Jakarta. Indonesia’s long-awaited state investment superholding, Daya Anagata Nusantara (Danantara), has officially been established following the approval of the amended State-Owned Enterprises (SOEs) Law by the House of Representatives (DPR) on Tuesday.

The holding entity will oversee $600 billion in state assets by consolidating government-run businesses to optimize operations and dividends while supporting Indonesia’s economic growth target of 8 percent.

“Danantara has been officially established to consolidate the management of state-owned enterprises, optimize dividends, and drive strategic investments. This is a transformative step in building a strong and sustainable economic foundation for future generations,” State-Owned Enterprises Minister Erick Thohir said during the DPR plenary session at the Parliament Complex in Senayan, Jakarta, on Tuesday.

According to Erick, Danantara’s establishment reflects the government’s commitment to aligning BUMN management with Indonesia’s broader economic vision, particularly under President Prabowo Subianto’s administration.

“This transformation is vital for achieving the vision of a Golden Indonesia 2045. Through collaboration between the government, SOEs, and stakeholders, we aim to create globally competitive and professional state enterprises that contribute significantly to national development,” Erick said.

He said the revised SOE Law would enable restructuring, reorganizing, and streamlining of state enterprises to increase efficiency and value creation. In addition, the new entity will prioritize innovation, technology adoption, and the development of globally competent human resources.

House Deputy Speaker Sufmi Dasco Ahmad said the organizational structure of Danantara, including its supervisory board, would be determined by President Prabowo.

“The supervisory board or any related appointments will be decided by the president. As of now, we await the formalization of these decisions,” Dasco said.

Speculation is rife that Erick Thohir himself may be appointed to lead Danantara’s supervisory board. Former Financial Services Authority (OJK) Chairman Muliaman Hadad has been entrusted to lead the agency.

Dasco urged the public to wait for the official regulations, including government decrees that will outline how Danantara will operate.

“Let’s wait until this law is enacted and the related regulations are issued to avoid public confusion. This clarity will also be crucial for attracting investors,” he added.