JAKARTA] Indonesia launched the Danantara investment fund on Monday (Feb 24), a high-stakes, multi-billion-dollar initiative designed to consolidate the country’s state-owned enterprises (SOEs), while serving as a powerful catalyst to attract investment and fuel the nation’s ambitious growth trajectory.

JAKARTA – Indonesia launched its new sovereign wealth fund Danantara on Feb 24, the latest initiative by President Prabowo Subianto to deliver on his ambitious economic growth target of 8 per cent within his first term.

Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said on Monday, as he launched the country's new sovereign wealth fund.

He wants to tap into the fund's assets -- planned to be more than $900 billion -- to boost Indonesia to developed economy status, despite expert concern about its governance.

President Prabowo Subianto announced that Indonesia's newly launched sovereign wealth fund, Daya Anagata Nusantara (Danantara), will be one of the largest

Indonesia on Monday launched a new sovereign wealth fund that will aim to manage state assets worth more than $900 billion as President Prabowo Subianto looks to turbo-charge growth in Southeast Asia's biggest economy.

Indonesian authorities formally launched a new sovereign wealth fund on Monday that will aim to manage state assets worth more than $900 billion

President Prabowo Subianto on Monday signed a regulation that officially established a new sovereign wealth fund, "Danantara Indonesia", which will hold government stakes in state firms and is intended to operate like Singapore's investment arm Temasek.