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View all search resultsOvercoming corruption vital for RI’s economy to ‘take off’, says Ray Dalio
Investment and Downstream Minister Rosan Roeslani told reporters on Friday that he reaffirmed the government’s plan to involve Dalio as one of the members of the advisory board of the country’s latest sovereign wealth fund Danantara.
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President Prabowo Subianto (center) together with Finance Minister Sri Mulyani (left), Energy and Mineral Resources Minister Bahlil Lahadalia (second right), chairman of DEN Luhut Pandjaitan (right), State Secretary Prasetyo Hadi (third left) and investor from the United States Ray Dalio (second left) and Cabinet Secretary Teddy Indra Wijaya (third right) hold a meeting with businessmen at the State Palace in Jakarta, on March 7, 2025. (Antara Foto/Galih Pradipta)
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nited States investor and hedge fund manager Raymond Thomas Dalio cites corruption as one of the barriers that has to be removed before Indonesia’s economy can take off as envisioned by the government.
Dalio, who founded and helmed one of the world’s largest hedge funds Bridgewater Associates, also mentioned bureaucratic obstacles and ease of doing business, among other obstacles that the country must overcome.
He also pointed to Indonesia’s relatively low debt level and its ability to seek investments as some “ingredients” that could help propel the country’s economy to become a developed country.
“I know the importance of a leader in being able to then take control of the situation and make those very difficult reforms to be able to energize and capitalize and also overcome the barriers of corruption that stand in the way,” said Dalio, referring to President Prabowo Subianto, whom he met at the State Palace on Friday.
“And from speaking to President Prabowo, I think he can be that man,” he added.
Read also: Police, regional administrations prone to graft: KPK survey
Indonesia scored 37 in Transparency International’s 2024 Corruption Perceptions Index, putting the country in 99th place of 180 countries surveyed. The score was an improvement from 34 in 2023, but still below the global average of 43.
