Prabowo pushes deregulation and downstreaming to restore trust
Danantara’s debut global bond drew US$4,6 billion in orders, more than three times its US$1,5 billion issue size.
President Prabowo Subianto is pushing licensing deregulation and faster downstreaming and industrialization as steps to restore public and market confidence amid shifts in the national economy. State Secretary Prasetyo Hadi said at the Presidential Palace Complex in Jakarta on Monday that deregulation is needed to make the investment climate more competitive. He added that support for the currency is also tied to export and import performance, so downstreaming is expected to reduce reliance on imports while adding value to domestic products. On the same occasion, Danantara CEO Rosan Roeslani said PT Danantara Investment Management issued its first global bond worth US$1,5 billion. The peak orderbook reached about US$4,6 billion, which was seen as a sign of strong international investor interest in Indonesia.