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Sovereign Wealth Fund (Swf) Institution: Roles And Challenges Of The Indonesia Investment Authority (Ina) Vincent Guo; Rouli Anita Velentina
Jurnal Pendidikan Indonesia Vol. 6 No. 6 (2025): Jurnal Pendidikan Indonesia
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/japendi.v6i6.7963

Abstract

Sovereign Wealth Fund (SWF) is a term in the realm of finance that refers to a state-owned financing institution. One of the Sovereign Wealth Funds owned by the Indonesian government, the Indonesia Investment Authority (INA), has been operational since 2024. As a progressive step in the development of Sovereign Wealth Funds in Indonesia, INA can be considered successful as a state investment management institution that has attracted the attention of foreign investors. Since its establishment, INA has played a role in driving investments in infrastructure, transportation, logistics, digitalization, healthcare, food security, green energy, and sustainable development. The sectors funded by INA range from geothermal energy in the green energy sector, the Belawan terminal infrastructure project, until Plasma Derivative Drug Products in healthcare. However, INA’s success is also accompanied by challenges, such as securing prospective investors, balancing economic interests with sustainable developmental priorities, and the impact of the global economic slowdown on investor confidence. Additionally, regulatory challenges—including policy alignment and even jurisdictional conflicts with other government institutions—are critical concerns for INA’s future growth. This research attempts to elaborate on the role of INA in the development of the Indonesian economy and the challenges faced by INA as Indonesia’s Sovereign Wealth Fund.
Sovereign Wealth Fund (Swf) Institution: Roles And Challenges Of The Indonesia Investment Authority (Ina) Vincent Guo; Rouli Anita Velentina
Jurnal Pendidikan Indonesia Vol. 6 No. 6 (2025): Jurnal Pendidikan Indonesia (Japendi)
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/japendi.v6i6.7963

Abstract

Sovereign Wealth Fund (SWF) is a term in the realm of finance that refers to a state-owned financing institution. One of the Sovereign Wealth Funds owned by the Indonesian government, the Indonesia Investment Authority (INA), has been operational since 2024. As a progressive step in the development of Sovereign Wealth Funds in Indonesia, INA can be considered successful as a state investment management institution that has attracted the attention of foreign investors. Since its establishment, INA has played a role in driving investments in infrastructure, transportation, logistics, digitalization, healthcare, food security, green energy, and sustainable development. The sectors funded by INA range from geothermal energy in the green energy sector, the Belawan terminal infrastructure project, until Plasma Derivative Drug Products in healthcare. However, INA’s success is also accompanied by challenges, such as securing prospective investors, balancing economic interests with sustainable developmental priorities, and the impact of the global economic slowdown on investor confidence. Additionally, regulatory challenges—including policy alignment and even jurisdictional conflicts with other government institutions—are critical concerns for INA’s future growth. This research attempts to elaborate on the role of INA in the development of the Indonesian economy and the challenges faced by INA as Indonesia’s Sovereign Wealth Fund.
Sovereign Wealth Fund (SWF): Comparison between Indonesia, Singapore and Malaysia Vincent Guo; Rouli Anita Velentina
Unram Law Review Vol 9 No 2 (2025): Unram Law Review (ULREV)
Publisher : Faculty of Law, University of Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/ulrev.v9i2.435

Abstract

Sovereign Wealth Fund (SWF) is a state-owned investment institution that is professionally managed to secure financial surpluses, such as natural resource revenues or foreign exchange reserves. SWF aims to support economic stability, income diversification, and long-term development. Since 2020, the Indonesian Government has begun to strengthen the direction of its investment policy by establishing national SWFs, namely the Indonesia Investment Authority (INA) and Daya Anagata Nusantara (Danantara). The establishment of these two institutions is based on regulations such as the Job Creation Law, the BUMN Law, and their implementing regulations. In a global context, the concept of SWF has developed since 1953 and is standardized through the Santiago Principles by the IMF and the International Forum of Sovereign Wealth Funds. This study aims to examine the structure, role, and effectiveness of Indonesia’s SWF, and compare it with the SWF models in Singapore (Temasek and GIC) and Malaysia (Khazanah and 1MDB). Through a comparative approach, this study provides a more comprehensive picture of Indonesia’s position in SWF management and lessons learned from successful and failed SWFs in neighboring countries.