Danantara Says Indonesia Opens Door for Foreign Nationals Entering State Enterprises

October 17, 2025 | 09:17 am

TEMPO.CO, Jakarta - Indonesian sovereign wealth fund Danantara CEO Rosan Roeslani said the government is opening the doors for foreign executives to enter state companies. According to him, the laws limiting foreign nationals from taking part in the board of directors of state-owned enterprises (SOEs) have been revised to boost professionalism and governance.

Two foreigners earlier have been appointed as executives of the flagship carrier Garuda Indonesia. The two are Balagopal Kunduvara and Neil Raymond Nills, as the finance and risk management director, as well as the transformation director.

According to Rosan, the government requires expatriates with sharp analysis to transfer knowledge and technology to advance SOEs.

"We also analyze whether the expatriates we bring can elevate our state-owned enterprises to international standards, given their extensive experience," said Rosan during an interview at JS Luwansa Jakarta on Thursday, October 16, 2025.

The Minister of Investment and Downstream Industry/Head of BKPM mentioned that the presence of expatriates in state-owned enterprises can establish good governance and management standards. "We want to reduce any possible irregularities within state-owned enterprises, such as corruption, which we strive to eradicate," he stated.

Meanwhile, Chief Investment Officer of Danantara Indonesia, Pandu Sjahrir, revealed the reasoning behind the appointment of two foreign nationals to the board of directors of Garuda Indonesia. According to Pandu, Danantara aims to introduce a new paradigm that will bring state-owned enterprises to global competitiveness.

He cited examples of foreign airlines, such as Emirates and Air New Zealand, which have foreign nationals serving on their boards of directors. "You may not have heard of Air New Zealand, but when it comes to revenue, its net profit is double that of Garuda. The majority of their board is also comprised of foreign nationals, not New Zealanders," Pandu stated during the same occasion.

Furthermore, President Prabowo Subianto wishes for state-owned enterprises to be managed according to international standards. The head of state also said that regulations have been amended to allow expatriates or foreign nationals to hold leadership positions in state-owned enterprises.

Prabowo requested the Danantara Investment Management Board to seek the best talents, including those from overseas. "I have amended the regulations, now expatriates, non-Indonesians, can lead our state-owned enterprises. I am enthusiastic (about it)," Prabowo said during a dialogue with Forbes chair, Steve Forbes, in Jakarta on Wednesday, October 15, 2025.

Hendrik Yaputra and Anastasya Lavenia contributed to the writing of this article

Editor’s Choice: Danantara Explains Appointment of Foreign Nationals as Garuda Indonesia Directors

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