Indonesia President Prabowo Subianto announced that Indonesia’s newly launched sovereign wealth fund, Daya Anagata Nusantara (Danantara), will be one of the largest in the world, national news agency Antara reported on Monday.

“The people of Indonesia should be proud because, with total assets of more than $900 billion, Danantara Indonesia will be one of the biggest sovereign wealth funds in the world,” he said at the launch of the Danantara Investment Management Agency on Monday.

Prabowo stated that during the first 100 days of his presidency, the government had secured nearly $20 billion in savings, the report added.

The funds will be allocated to be managed by the Danantara Investment Management Agency and invested in 20 or more national projects as part of the industrialization and downstreaming efforts.

These projects encompass the downstreaming of natural resources such as nickel, bauxite, and copper, as well as the development of data centers, artificial intelligence, oil refineries, petrochemical plants, food and protein production, aquaculture, and renewable energy development, according to the news agency.

“These are the sectors that will determine our future, our resilience, and our nation’s self-reliance,” Prabowo highlighted.

The sovereign wealth fund is seen as the latest initiative by Prabowo to deliver on his ambitious economic growth target of 8 percent within his first term.

He noted that Danantara is a milestone in Indonesia’s journey towards prosperity, resilience, and economic independence.

“Danatara is not just an investment management body. Danantara must be an instrument of national development capable of optimizing the management of Indonesia’s wealth with high standards of transparency and accountability,” he said.

“We are entering a new era where state-owned enterprises (BUMN) operates with the highest standards and the best management. BUMN must put forward innovation, big vision, transparency, and technological advancements, while maintaining discipline, caution, and commitment to good governance and responsible management,” he said in a Facebook post.

Danantara was officially launched by President Prabowo Subianto, accompanied by former presidents Joko Widodo and Susilo Bambang Yudhoyono on Monday.

Earlier in the day, Prabowo enacted Presidential Decree Number 30 of 2025 on Danantara’s board of advisors and executive board and Government Regulation Number 10 of 2025 on Danantara’s organization and governance, the report added.

Indonesia antitrust agency fines Google $12.4M for unfair business practices – report