Indonesia will launch Sovereign Wealth Fund in January 2021

Indonesian Deputy Minister of State-Owned Enterprises (SOEs) Kartika Wirjoatmodjo announced that the country government will establish the sovereign wealth fund to handle government January 2021 

“We will launch the Indonesia Investment Authority soon as the Job Creation Law mandates its establishment,” he told a virtual discussion but did not go into more details. 

A few days ago, it was announced that to attract investment and give a boost to the economy, Indonesian government is preparing 75 trillion rupiah (S$6.8 billion) in capital to set up a sovereign wealth fund,  

The government would inject up to 30 trillion rupiah ($2.04 billion) in cash for its equity and add other assets, including stakes in state companies that would in total reach 75 trillion rupiah or $5 billion, Minister Sri Mulyani Indrawati said.then. The government would leverage that to attract funds for investment totalling $15 billion, she said. 

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