Prabowo: SOE Profits to Accelerate Downstreaming and Strengthen Global Supply Chain Position

President Prabowo Subianto has emphasised that the growing profits of state-owned enterprises (SOEs) will be utilised to accelerate the nation’s downstreaming programme and strengthen Indonesia’s position in the global supply chain. He stated that SOE profits are not merely directed towards increasing state revenue but are also serving as a source of financing for various strategic downstream projects.

“SOE profits are now being used to accelerate our downstreaming efforts,” President Prabowo said during the Annual Session of the People’s Consultative Assembly (MPR) and the Joint Session of the House of Representatives (DPR) and the Regional Representatives Council (DPD) in Jakarta on Friday.

He outlined several key projects, including the processing of coal into dimethyl ether (DME), copper and gold downstreaming, industrial salt processing, and the construction of an alumina smelter to produce aluminium. According to Prabowo, these projects will generate tens of thousands of new jobs.

“Projects such as coal-to-DME processing, copper and gold downstreaming, industrial salt processing, and the alumina-to-aluminium smelter are creating tens of thousands of jobs. Not to mention the waste-to-energy projects we have also begun,” he explained.

The President further noted that this strategy is crucial to ensure Indonesia does not merely process its raw materials domestically but also acquires the technology and market networks necessary to strengthen its involvement in the global supply chain. “We are buying the world’s best companies to obtain their technology, management, and markets, which can help make Indonesia a part of the global supply chain,” he added.