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Making Danantara, Prabowo Admits To Copying From Singapore

Indonesia has started this year to establish its own Sovereign Wealth Fund (SWF) called the Daya Anagata Nusantara Investment Management Agency (BPI Danantara). President Prabowo Subianto said the policy to establish the SWF was a direct copy of Singapore's policy. 

Prabowo initially said that Indonesia copied many of Singapore's policies. Prabowo expressed this directly in front of Singaporean Prime Minister Lawrence Wong. 

Initially, Prabowo said that he had witnessed Singapore's early days and that he had always admired the successes of Singapore's early leaders. According to him, in real life, all countries are allowed to imitate the best practices of other countries. 

He said that in school, all students are taught not to copy their friends' homework. However, in real life as a country, he said it is okay to imitate the best practices of other countries. 

"This is called copying with pride. So I studied this and I think Singapore has initiated many successful policies," Prabowo said in a joint press statement during a working visit to Singapore, Monday (16/6/2025). 

One of Singapore's achievements that Prabowo acknowledged was copied by Indonesia is the establishment of the Sovereign Wealth Fund (SWF). While Singapore has Temasek, Indonesia has also just launched Danantara. He admitted that the concept of Danantara was inspired by Temasek. 

"Singapore's achievement that we are proud to copy is your Sovereign Wealth Fund, Temasek. A few months ago, we started our own Sovereign Wealth Fund, which we named Danantara," Prabowo explained. 

He said that Danantara is an abbreviation of Daya Anagata Nusantara, which means energy for the future of Indonesia. The hope is that Danantara can be an economic booster for the future generation of Indonesia. 

Not only Danantara, Prabowo said that Indonesia also copied Singapore's housing policy, namely providing cheap housing for the community. This policy also continues what was initially implemented by the 6th President Susilo Bambang Yudhoyono and also the 7th President Joko Widodo. 

"We will go full speed ahead. I am proud to say that I received a report that we will build one million apartments, low-cost housing this year," Prabowo stressed. 

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Tag: Danantara Daya Anagata Nusantara Lawrence Wong Prabowo Subianto