Prabowo Reveals Some State-Owned Enterprises Were Almost Sold to Foreign Parties

President Prabowo Subianto has revealed that several state-owned enterprises (BUMN) were almost sold to foreign parties. The planned sales were cancelled after he issued a prohibition. Prabowo disclosed this information during a speech at the inauguration of five dams in West Nusa Tenggara on Friday, 10 July 2026. “There were many companies that were seemingly about to be sold to foreigners. I forbade it,” Prabowo said, as quoted from a Presidential Secretariat broadcast. According to Prabowo, some of the BUMN that were almost sold to foreign parties are strategic companies, such as PT PAL Indonesia, PT Pindad, PT Dirgantara Indonesia, and PT Garuda Indonesia. He expressed shock upon learning about the plans to sell these BUMN to foreign entities at the beginning of his presidency in 2024. The Gerindra Party chairman stated he would strive to revive these strategic companies. “PT PAL can now build great warships and submarines. PT PAL will build advanced ships,” Prabowo said. He noted that there are currently more than a thousand BUMN, including parent companies, subsidiaries, and sub-subsidiaries, many of which are inefficient and continue to incur losses. Consequently, Prabowo plans to close several BUMN and reduce the total number to around 250 companies.