JAKARTA – President Prabowo Subianto has called for an ‘Indonesia Incorporated’ approach in front of business actors, members of the Indonesian Chamber of Commerce and Industry (Kadin).

The term, which has not been heard for quite some time, was revived by Prabowo to encourage businesses to be more adaptive in facing upcoming economic challenges.

“We need a dynamic Kadin as well as bold and innovative entrepreneurs working together in the spirit of Indonesia Incorporated,” Prabowo said in his speech at the National Consolidation Congress of United Kadin Indonesia, Thursday (16/1).

It is worth noting that the term Indonesia Incorporated became popular in 2023 during Erick Thohir’s term as Minister of State-Owned Enterprises (SOEs). At the time, Thohir promoted this concept to consolidate private and state-owned resources to support economic growth.

In line with this idea, Prabowo urged business players not to polarize between state and private interests. “There is no other orientation. It’s all for the nation’s interests, the state’s interests, and the people’s interests,” Prabowo declared.

"Leaders must be united. Who comes first, second, or third doesn't matter. We can just take turns, right, just take turns."

Additionally, Prabowo acknowledged that many state projects over the past 10 years have largely benefited SOEs. In his administration, Prabowo seeks to create equal opportunities for the private sector to participate in state projects.

“Construction of toll roads, ports, airports—I will hand these over to the private sector. Go ahead, everyone can get involved,” Prabowo reaffirmed. (KR/ZH)