February 17, 2021 | Invest Indonesia

Jokowi Confident INA Garnering Investors’ Trust to Speed Development

Source from: Antara News

Original News HERE

President Joko Widodo (Jokowi) is buoyant about the Indonesia Investment Authority (INA) gaining the trust of domestic and foreign investors to speed up national development.

“With a strong legal foundation and political support, the remarkable board of directors and advisory council, and a strong international network, I believe that the INA will gain national and international trust. This will make the INA a world-class Sovereign Wealth Fund,” Jokowi stated at the Merdeka Palace while introducing the INA’s directors on Tuesday.

The head of state appealed to other state institutions to support INA’s movement.

“It must be innovative and dare to take out-of-the-box decisions with good management. Indonesia must have adequate funding alternatives to speed up development toward an advanced Indonesia,” Jokowi remarked.

The head of state noted that the INA was established in accordance with the law on job creation and its implementation is regulated by Government Regulation No. 74 of 2020 on the INA issued on December 14, 2020.

“The INA is a professional institution protected under the law, and it heeds to professional considerations in taking the moves,” the president stated.

The INA is expected to fill the gap between domestic funding capability and the demand for development, Jokowi noted.

The institution will become a strategic partner for domestic and international investors to provide funding for national development, specifically for infrastructure development.

On January 27, 2021, Jokowi had installed five members of the INA Advisory Council: Sri Mulyani, concurrently the finance minister; Erick Thohir, the state enterprises minister; Haryanto Sahari as member for the 2021-2024 period; Yosua Makes for the 2021-2025 term; and Darwin Cyril Noerhadi for the 2021-2026 period.

The INA’s Board of Directors are CEO Ridha Wirakusumah, Deputy CEO Arif Budiman, Chief Investment Officer Stefanus Ade Hadidjaja, Chief Risk Officer Marita Alisjahbana, and Chief Financial Officer Eddy Porwanto.

Jokowi affirmed that the five directors are experienced in the investment, banking, financial services, and risk management sectors.

Reporter: Desca L Natalia, Sri Haryati
Editor: Yuni Arisandy Sinaga, Ine