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Indonesian President Joko Widodo appointed Ridha Wirakusumah to head the country’s first sovereign wealth fund, and voiced optimism that it would draw as much as US$15 billion from global investors looking to invest in roads and other infrastructure projects in Southeast Asia’s largest economy. Joko also tapped four other individuals from the banking, private equity, energy and mining industries to round out the senior ranks of the Indonesia Investment Authority, the official name of the newly-minted fund. All five appointees also make up the fund’s inaugural board of directors. According to the Indonesian leader, the wealth fund was set up to “increase and optimise the long-term value of state assets to support sustainable development”. ....
Jokowi confident INA garnering investors trust to speed development 16th February 2021 President Joko Widodo (Jokowi). ANTARA/screenshot/YouTube Ombudsman RI 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 Jakarta (ANTARA) - 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. ....