Indonesia's SWF Will Gain Domestic, Foreign Trust: Jokowi

    Wahyu Dwi Anggoro - 17 February 2021 14:59 WIB
    Indonesia's SWF Will Gain Domestic, Foreign Trust: Jokowi
    Illustration (Photo:Medcom.id)



    Jakarta: President Joko Widodo (Jokowi) has expressed his optimism that the country’s sovereign wealth fund (SWF), the Indonesia Investment Authority (LPI), will gain domestic and foreign trust.

    On Tuesday, he officially introduced the Board of Directors and the Board of Supervisors of the sovereign wealth fund.




    According to President Jokowi, Indonesia is one step behind the United Arab Emirates, China, Norway, Saudi Arabia, Singapore, Kuwait, and Qatar in establishing the state sovereign wealth fund.

    Therefore, the SWF will catch up to gain the trust.

    "Countries, that have established their sovereign wealth funds decades ago, have a considerable amount of fund to finance their development projects," said the President, as quoted by the Cavbinet Secretariat's website.

    For the record, members of LPI’s Board of Supervisors are Minister of Finance Sri Mulyani Indrawati (Head), Minister of State-owned Enterprises Erick Thohir, Darwin Cyril Noerhadi (a member for 2021-2026 term of office), Yozua Makes (a member for 2021-2025 term of office), and Haryanto Sahari (a member for 2021-2026 term of office).

    Meanwhile, members of LPI’s Board of Directors consisted of five professionals, among others; Ridha Wirakusumah (Head of Board), Arief Budiman (Deputy Head), Stefanus Ade Hadiwidjaja (Investment Director), Marita Alisjahbana (Risks Director), and Eddy Porwanto (Finance Director). 

    (WAH)

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