Erick Thohir's move to the position of Minister of Youth and Sports in the latest reshuffle of the Red and White Cabinet led to various predictions from many circles. Understandably, in the ministerial inauguration on Wednesday (17/9), the seat of Minister of SOEs was left temporarily vacant.
It is no wonder that there are strong signals that the Ministry of SOEs, which has made various efforts to transform the state-owned company, will be merged into the Daya Anagata Nusantara Investment Management Agency (Danantara) - which is only 7 months old.
Perhaps President Prabowo Subianto is still looking for the right figure to occupy this strategic position. However, a number of people believe that the vacant leadership position at the Ministry of SOEs emphasizes the signs that Danantara is designed to directly oversee all state-owned companies.
Chairman of the Indonesian Export Companies Association Benny Soetrisno agrees that the Ministry of SOEs and Danantara should be merged. Because currently, the role of the Ministry of SOEs has begun to be carried out by Danantara.
Since Danantara was formed, it has managed and consolidated state assets spread across large state-owned enterprises. Benny believes that Danantara can become Indonesia's new spirit in facing global challenges, creating new opportunities, and advancing national economic development.
“Saya sangat setuju Kementerian BUMN dan Danantara digabung, buat menjadi satu-kesatuan agar mudah dikontrol,” ujar Benny ketika ditemui dalam acara Roundtable SUAR tentang Pekerja Migran Indonesia di Hotel JS Luwansa, Jakarta (18/9).
Benny said, if the Ministry of SOEs and Danantara have been merged, the main task should not be abandoned. Namely, asset optimization.
If the Ministry of SOEs and Danantara are merged, the main task should not be left out: asset optimization.
With Danantara as the investment manager, it is expected that SOE assets can be optimized in a more professional manner to provide maximum benefits for the state.
"This more defined structure can improve transparency and accountability in the financial and operational management of SOEs," he said.
If this scenario is realized, Danantara will play a vital role as the main manager of state assets spread across various sectors. Namely, ranging from energy, infrastructure, to banking.
This consolidation is seen as an effort to streamline the bureaucracy while strengthening state corporate governance through a more focused business approach that is independent of political intervention.
The Daya Anagata Nusantara Investment Management Agency (Danantara), a superholding entity designed to directly oversee all state-owned companies, was established by President Prabowo Subianto on February 24, 2025. In fact, he had already presented this idea during his campaign last year, referring to Temasek Holding in Singapore as a benchmark for the superholding.
Prabowo's father, Sumitro Djojohadikusumo, had envisioned the idea of an SOE asset management institution in the late 1980s. Sumitro had the idea of establishing an institution to manage SOE profits, but it was rejected by the then Minister of Finance, JB Sumarlin.
Restructuring the power of SOEs
Indonesian Employers Association (Apindo) Expert Council Danang Girindrawardana said that the issue of merging the Ministry of SOEs and Danantara should be a matter for the government. The main function of the Ministry of SOEs must be carried out optimally.
The Ministry of SOEs should make breakthroughs through restructuring to build a strong business ecosystem, enhance strategic digital and technological capabilities, optimize asset value, and develop quality human resources with a focus on sustainability, food security, energy and health.
“BUMN harus menjadi agen pembangunan yang memberikan kontribusi signifikan terhadap kesejahteraan rakyat,” ujar Danang kepada SUAR di Jakarta (18/9).
Many considerations
Economic observer LPEM FEB UI Teuku Rifky said that President Prabowo Subianto had many considerations before deciding to shift Erick Thohir's position from Minister of SOEs to Minister of Youth and Sports.
According to him, Erick Thohir already has a pretty good track record and is very familiar with the world of sports. Erick was also listed as the owner of the Inter Milan football club for the 2013-2019 period.
“Pemerintah jangan membiarkan posisi Menteri BUMN kosong karena Kementerian BUMN juga sangat penting dalam perekonomian,” ujar Teuku kepada SUAR, di Jakarta (17/9).
He said that the Ministry of SOEs is a strategic ministry. Therefore, it should work separately, despite rumors that the Ministry of SOEs will be merged into Danantara.
