TEMPO.CO, Jakarta – President Prabowo Subianto said his administration had halted plans to sell several state-owned enterprises (SOEs) to foreign parties. He argued that Indonesia must retain control over strategic national assets.
Speaking at the inauguration of five dams in West Nusa Tenggara on Friday, July 10, Prabowo said he was surprised to learn that several state-owned companies had reportedly been earmarked for sale when he took office in 2024.
"There were many companies that appeared to be heading toward being sold to foreign parties. I prohibited it," Prabowo said, according to a broadcast by the Presidential Secretariat.
Prabowo said the companies included several strategic SOEs, such as state-owned shipbuilder PT PAL Indonesia, defense manufacturer PT Pindad, aerospace company PT Dirgantara Indonesia, and national flag carrier PT Garuda Indonesia.
The president said his government is instead seeking to revitalize these companies and strengthen their capabilities.
"PT PAL can now produce high-quality warships and submarines. PT PAL will build increasingly sophisticated naval vessels," he said.
Plans to Streamline SOEs
Prabowo also highlighted the large number of state-owned companies currently operating in Indonesia.
According to him, there are more than 1,000 SOEs, including parent companies, subsidiaries, and sub-subsidiaries. He said many of these entities are inefficient and continue to incur losses.
As a result, the government plans to significantly reduce the number of state-owned companies.
"We will streamline them," Prabowo said, adding that the number of SOEs could eventually be reduced to around 250 companies.
The remarks came as the government seeks to reform Indonesia's state-owned sector by consolidating underperforming firms while maintaining control over enterprises considered strategic to national interests.
Click here to get the latest news updates from Tempo on Google News
Prabowo: Social Media Can Mislead, Trust Elected Leaders Instead
2 jam lalu
Prabowo warns that social media can be misused by wealthy individuals, urging the public to be cautious about information circulating online.
Prabowo Welcomes Police, Military Inspection at MBG Kitchens
13 jam lalu
President Prabowo allows the police and military to inspect SPPGs in their areas.
Why Prabowo Urges TNI, Police, and AGO to 'Self-Introspect'
17 jam lalu
State officials, especially serving with TNI, Polri, and the AGO, all enjoy facilities funded by the people, Prabowo said.
Prabowo Set to Inaugurate Meninting Dam in Lombok
1 hari lalu
In West Lombok, Prabowo will also symbolically inaugurate four dams in other areas.
4 Highlights from Prabowo's Remarks at Indonesia's B50 Launch
1 hari lalu
In addition to launching the B50 program, Prabowo made several notable remarks on fuel subsidies, mineral discoveries, and country's economic outlook.
Prabowo: It Is a Sin for Leaders to Lie to the People
1 hari lalu
President Prabowo Subianto slammed critics who accused his government of lying to the public.
Prabowo Reveals Massive Gold Reserves in Papua Mountains
1 hari lalu
Prabowo noted that the findings were reported to him just hours before he inaugurated the mandatory 50% biodiesel blend (B50) in Karawang today.
Why Does Prabowo's State Honor for PM Modi Draw Scorn?
1 hari lalu
President Prabowo Subianto awarded the Bintang Republik Indonesia Adipurna to Indian PM Narendra Modi on Tuesday, July 7, 2026.
Prabowo Hails Indonesia as First to Adopt B50 Biodiesel
1 hari lalu
President Prabowo stated that biodiesel B50 is not just a technological achievement but also evidence of Indonesia's ability to utilize its natural wealth for the people.
Indonesia Launches B50 Program, Minister: 'No More Diesel Import'
1 hari lalu
President Prabowo's administration has mandated that all types of diesel must be blended with 50 percent biodiesel.
