President Prabowo Pushes for Accelerated Industrialization to Bolster National Economy

JAKARTA - President Prabowo Subianto is encouraging the acceleration of downstream processing and the arrangement of State-Owned Enterprises (BUMN) to strengthen the national economy. This was conveyed in a meeting between President Prabowo and Minister of Investment and Industrialization and Chief Executive Officer (CEO) of Danantara Rosan Roeslani, Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia, and Danantara's ranks in Hambalang, Bogor Regency, West Java, Friday (4/9). The Secretary of the Cabinet (Seskab) Teddy Indra Wijaya when confirmed, Saturday, said that accelerating downstreaming was one of the main agendas discussed in the meeting. "Acceleration of downstream processing is a strategic step to increase the added value of natural resources in the country, strengthen investment, and create greater economic benefits for Indonesia," said Teddy. In addition to downstreaming, President Prabowo also received a report on the progress of implementing his instructions regarding the arrangement and streamlining of SOEs. Until now, 290 SOEs have been closed. This step is said to have resulted in savings in the state budget of up to Rp50 trillion. The process of consolidating SOEs will continue with the target of closing at least 700 other SOEs by the end of December 2026. This policy is part of the government's efforts to simplify the state-owned company structure. Through the restructuring of SOEs, the government projects budget efficiency of up to Rp100 trillion. President Prabowo emphasized that the arrangement of SOEs must be carried out in a measured and comprehensive manner. This step is aimed at creating state-owned enterprises with a more efficient, healthy, and professional structure, as well as being able to make optimal contributions to the national economy. "The President emphasized the importance of structuring SOEs in a measured and comprehensive manner to create a more efficient, healthy, professional state enterprise structure, and to be able to make optimal contributions to the national economy," said Teddy. The meeting was also attended by Danantara Dony Oskaria's Chief Operating Officer (COO), Minister of State Secretary Prasetyo Hadi, and Cabinet Secretary Teddy Indra Wijaya.