REPUBLIKA.CO.ID, JAKARTA -- Indonesia has great potential to take off into a developed country, but the road to travel is not easy. Global veteran investor Ray Dalio highlighted a number of crucial challenges that need to be overcome.

Efficient bureaucratic governance, the ability to create strong capital, as well as a business climate conducive to entrepreneurs are the main foundations that must be strengthened. Equally important, effective corruption eradication strategies are key to building trust and attracting investment. These challenges are not merely obstacles, but rather opportunities for Indonesia to prove itself as a formidable economic power on the world stage.

“In some countries, as I watched the transition take place, I know the importance of a leader who is able to take control, and make very difficult reforms to address the challenges of corruption, and revitalize those countries,” Ray Dalio said during a speech at the Presidential Palace of the Republic of Indonesia, Jakarta, Friday (7/3/2025).

On the same occasion, Ray Dalio judged the President of the Republic of Indonesia Prabowo Subianto as the right figure to lead Indonesia towards a transition period to a developed country. “I have spoken directly with Mr. Prabowo, and I think Mr. Prabowo is the right person, and he made me want to come here to meet with you directly,” Ray Dalio said, speaking before a lineup of White Red Cabinet ministers, several Indonesian tycoons, Kadin Indonesia, and the National Economic Council (DEN).

Ray Dalio believes that Indonesia has a number of potential to become a developed country. “I'm happy to help Indonesia,” Ray Dalio said.

He continued, “I follow the development of the world. I witnessed what happened. I am not an academic, I am not a macro investor. I'm aware of that, but what I see from this situation, the potential is there, and I'm happy to be able to contribute, to be able to do this.”

Ray Dalio attended the meeting at the Palace wearing a batik. He sat right next to President Prabowo. In the same ranks, there are also Finance Minister Sri Mulyani Indrawati, ESDM Minister Bahlil Lahadalia, and Chairman of the National Economic Council Luhut Binsar Pandjaitan.

Meanwhile, in the back row of the President, there are Minister of State Secretary Prasetyo Hadi and Cabinet Secretary Letkol Inf. Teddy Indra Wijaya. In the same meeting, there was also Danantara Chief Executive Officer Rosan P Roeslani, who was also Minister of Investment and Underwriting/Head of BKPM, then Chief Investment Officer (CIO) Danantara Pandu Sjahrir, and Chief Operating Officer (COO) Danantara Dony Oskaria, who is currently also Deputy Minister of State-Owned Enterprises.

In the same room, there was also Chairman of Kadin Indonesia Anindya Novyan Bakrie, and several Indonesian tycoons, including Andi Syamsuddin Arsyad (Haji Isam), Tomy Winata, Chairul Tanjung, Hashim Djojohadikusumo, James Riady, Prajogo Pangestu, Garibaldi Thohir, Sugianto Kusuma (Aguan), Hilmi Panigoro, Franky Oesman Widjaja, and Anthony Salim.

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