REPUBLIKA.CO.ID, JAKARTA -- The House of Representatives (DPR) together with the Government officially approved the Draft Law (Bill) Third Amendment to Act No. 19 of 2003 on State-Owned Business Entities (BUMN) into law at the Paripurna Meeting. One of the important points in this change was the establishment of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara).

SOE Minister Erick Thohir said that the establishment of BPI Danantara is a strategic step in strengthening the management of state-owned enterprises, both from the operational side and the management of dividends to support the economic growth target of eight percent that President Prabowo Subianto has set.

“The transformation of BUMN through the establishment of BPI Danantara is a strategic effort to support the vision of Together Indonesia Advancing Towards a Golden Indonesia 2045. Synergies between the government, state-owned enterprises, and all stakeholders will build a solid and sustainable economic foundation for future generations,” Erick said during the plenary meeting on the ratification of the BUMN bill into SOE legislation in the Plenary Meeting Room, DPR Building, Jakarta, Tuesday (4/2/2025).

The adoption of this law not only emphasizes the establishment of BPI Danantara, but also brings a number of important updates. One of them is the affirmation of SOE asset management carried out in an accountable manner and in accordance with the principles of good corporate governance.

In addition, this new regulation pays great attention to the human resources (HR) of SOEs. The government, Erick continued, stressed the importance of giving opportunities to people with disabilities and local people to get involved in SOEs.

Furthermore, women workers were encouraged to occupy strategic positions such as directors and boards of commissioners. Erick said the bill also confirms the status of state-owned wealth as state wealth segregated in order to be more flexible in running corporate actions.

“With the various arrangements that have been agreed in this change, we expect SOEs to become more competitive and able to support Indonesia's economic growth targets, as President Prabowo Subianto has proposed,” Erick said.

The adoption of this law received a positive welcome from various circles who considered the measure a manifestation of the government's commitment to promote the strategic role of state-owned enterprises as a motor driver of national economic growth.

The ratification of the BUMN bill into SOE legislation also gave Erick a mandate to become Chairman of the Supervisory Board of Daya Anagata Nusantara Investment Management Agency (Danantara). Erick is strategically positioned to ensure the new agency's operations run optimally.

“The Supervisory Board shall consist of the Minister of SOE as Chairman of all members; Representatives of the Ministry of Finance as members; and State officials or other parties appointed by the President as members,” reads Article 3M of the Draft Law (Bill) on the Third Amendment to Law No. 19 of 2003 on State-Owned Business Entities (SOEs).

In the list of problem inventory (DIM) Article 30 of the SOE Bill, the Supervisory Board's supervisory tasks towards Danantara include approving the annual work plan and budget along with the main performance indicators proposed by the Implementing Agency. The Supervisory Board will also evaluate the achievement of the KPI, receive and evaluate the accountability reports from the Implementing Bodies, and submit the accountability reports of the Board of Supervisors and the Implementing Bodies to the President.

The SOE Bill also regulates the duties and role of the SOE Minister in Article 3B. In the article, the minister not only sets policies, arranges, fosters, coordinates, and supervises the implementation of SOE management policies, but also has the authority to set policies, arrangements and oversight of the Agency.

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