Prabowo to Appoint Special Envoys to Oversee State-Owned Enterprises

President Prabowo Subianto has recounted how many sovereign wealth funds in wealthy nations have incurred losses due to poor management. For this reason, he intends to ensure maximum oversight of the Investment Management Body (BPI) Danantara.

“Colleagues, always be vigilant. Many sovereign wealth funds have suffered losses. Many sovereign wealth funds even in the wealthiest nations have lost money due to poor management,” Prabowo said whilst briefing officials at Danantara’s first anniversary celebration at Wisma Danantara in South Jakarta on Wednesday (11 March 2026).

“I believe this is my responsibility. We shall endeavour to ensure all oversight mechanisms are in place. I believe Danantara is the most closely monitored institution in Indonesia. There is a supervisory board—our supervisory board is quite robust, with almost all coordinators attending—and I have also asked the Financial Audit Agency (BPK) and the Internal Supervisory Agency (BPKP) to enter and leave to conduct inspections. The Attorney General’s Office, police, and the Military Commander all participate in oversight as well,” he continued.

Prabowo stated that he has already appointed several special presidential envoys. Going forward, the government is also considering placing special envoys within each state-owned enterprise managed by the state.

“In addition to this, I have appointed special presidential envoys, and in future, I may appoint special envoys for each BUMN we manage,” he said.

According to him, this step is necessary to ensure that state assets are not misused. Prabowo emphasised that SOEs represent a source of economic strength for the nation that must be safeguarded carefully.

“We must oversee this because it is the lifeblood of the Indonesian nation. If this blood continues to leak, our nation will be in difficulty,” he said.

Prabowo also expressed optimism regarding Indonesia’s future despite various global challenges. He believes that the current crisis must be faced with unity and hard work.

“Our future is strong, our future is bright. We shall face crises with courage. Crisis is opportunity. We are united, we live in harmony, we work hard,” he said.