New Indonesia sovereign wealth fund to invest US$20 billion in projects, president saysDanantara Indonesia will invest US$20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said on Monday, as he launched the country's new sovereign wealth fund.
At a lavish ceremony, Prabowo formally launched the Daya Anagata Nusantara Indonesia fund, or Danantara Indonesia, which is expected to manage more than US$900 billion worth of assets to help drive development in Southeast Asia's largest economy and fulfil his promise of boosting growth to 8%, from about 5% now.