New sovereign wealth fund Danantara Indonesia will focus on large-scale projects generating good returns as it prioritises sectors championed by the government to increase economic growth and create jobs,

Prabowo wants to tap into the fund's assets -- planned to be more than US$900 billion -- to boost Indonesia to developed economy status, despite expert concern about its governance.

Danantara, the nation's newly established sovereign wealth fund, may end up stifling growth instead of fuelling it, analysts warn.

Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said.

Indonesian president Prabowo Subianto has launched plans for a new sovereign wealth fund aimed at supporting his strategic projects and boosting the country’s growth – but it’s already raising concerns of transparency and political interference.

The fund will invest US$20 billion (S$27 billion) in 20 projects to drive development in the nation. Read more at straitstimes.com.

Prabowo on Monday inaugurated the new fund, known as Daya Anagata Nusantara or Danantara, which is modeled partly on Singapore's investment arm Temasek.

JAKARTA-- Indonesia on Monday launched a much-anticipated sovereign wealth fund that government officials say is key to hitting President Prabowo Subianto's 8% target for economic growth.

The new fund, known as Daya Anagata Nusantara, or Danantara, which is modeled on Singapore's investment arm Temasek, was approved by the parliament this month. It will take control of government holdings in state companies,

President Prabowo Subianto on Monday signed a regulation that officially established a new sovereign wealth fund, "Danantara Indonesia", which will hold government stakes in state firms and is intended to operate like Singapore's investment arm Temasek.