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Jokowi inaugurates sovereign wealth fund’s supervisory board members
The supervisory board is led by Finance Minister Sri Mulyani Indrawati, with members including State-Owned Enterprises (SOEs) Minister Erick Thohir as well as three professionals overseeing the fund’s operations.
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President Joko "Jokowi" Widodo (right) swears in supervisory board members of sovereign wealth fund the Indonesia Investment Authority (INA) at the State Palace in Jakarta on Jan. 27, 2021 in this screen grab from the Presidential Secretariat's official YouTube account. (Courtesy of Presidential Secretary/-)
P
resident Joko “Jokowi” Widodo inaugurated on Wednesday five members of Indonesia’s sovereign wealth fund’s supervisory board after a selection process followed by three of the members and consultation with the House of Representatives.
The supervisory board is led by Finance Minister Sri Mulyani Indrawati, with members State-Owned Enterprises (SOEs) Minister Erick Thohir as well as three professionals overseeing the fund’s operations.
Read also: Things you need to know about government's sovereign wealth fund
The three professionals are PricewaterhouseCoopers (PwC) Indonesia former country senior partner Haryanto Sahari, Indonesia Stock Exchange (IDX) former president director Darwin Cyril Noerhadi and law firm Makes & Partners founder and managing partner Yozua Makes.
“I believe in the good track records, experience and reputation of these professionals,” President Joko “Jokowi” Widodo said during the livestreamed ceremony.
“We hope that our sovereign wealth fund named the Indonesia Investment Authority (INA) will gain the trust of both domestic and international [investors] so we can expect large numbers of alternative financing for the development of our nation.”
The government expects to secure US$100 billion in investment into the sovereign wealth fund in the next two years and plans to use the fund to finance big projects such as infrastructure, tourism and technology, as well as the planned relocation of the country’s capital to boost the economy.
