Indonesia’s Upcoming Sovereign Wealth Fund Targets USD 20 Billion in Investment: President Joko Widodo

Indonesia’s upcoming sovereign wealth fund, which is set to be launched soon, is targeting to raise USD 20 billion in investments over the next few months, according to President Joko Widodo.

Addressing an annual meeting with financial players that was hosted by the Financial Services Authority (OJK), Widodo stated that this target was larger than previously announced following positive responses from several firms. Earlier Sri Mulyani Indrawati, Finance Minister had announced that Jakarta would seed the sovereign wealth fund with USD 5 billion in cash and shares in state companies, and hoped to grow the fund to USD 15 billion through foreign investors.

According to media reports, Indonesia is hoping to launch the sovereign wealth fund early in 2021 to attract f...