Indonesia’s Sovereign Wealth Fund takes shape
Image by Dias on Unsplash
The former CEO of Bank Permata, Ridha Wirakusumah has been named as the CEO of the Indonesia Investment Authority (INA), Indonesia’s new Sovereign Wealth Fund.
Development in Indonesia has traditionally been dependent on the State Revenue and Expenditure Budget (APBN) and State Owned Enterprises (BUMN) but the INA has been created as a new funding instrument to attract financing and investments for a broad range of projects from infrastructure to health care.
In a recent press statement at the State Palace, Ridha said, “we want to create an investment climate so that investors can enter Indonesia more comfortably and with more confidence.” The hope is that a healthy investment climate will attract investor interest and participation to jointly develop Indonesia.