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Government is Preparing Sovereign Wealth Fund (SWF) of IDR 75 trillion

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The government will form a Sovereign Wealth Fund (SWF) or the Investment Management Institute (LPI) this year. The purpose of establishing this institution is to increase the competitiveness of investment in Indonesia so that the economy in Indonesia can grow positively in the future.

Finance Minister Swi Mulyani explained that SWF's initial capital of IDR 30 trillion is in cash, while the rest was BUMN assets and other state assets. The funds raised to attract investment amounting to Rp 225 trillion, this fund is a combination of the United Arab Emirates, the Japanese Conglomerate Softbank and the United States International Development Finance Corporation (IFDC).

"Cipta Kerja Bil" or Omnibus Law will cover the laws that make up the SWF and are included in the chapter on central government investment and the ease of national strategic projects. The SWF consists of a supervisory board by the Minister of Finance and the Minister of SOEs, then a board of directors that manages SWF operations.

The Minister of Finance hopes to find a professional strategic partner so that these assets can be used properly to attract investment.