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Indonesia pushes state-owned industry consolidation and IPO plans

Tourism and food latest sectors targeted as government seeks economic recovery

President Joko Widodo launches InJourney, a new holding company for state-owned enterprises in tourism-related businesses, in West Nusa Tenggara Province on Jan. 13. (Photo courtesy of Indonesia’s presidential office)

JAKARTA -- From food and tourism to crude oil and geothermal energy, Indonesia's Ministry of State Owned-Enterprises is pushing consolidation and initial public offering plans this year, highlighting national priorities in driving post-pandemic recovery in Southeast Asia's largest economy.

The government last week launched two new state holding entities, InJourney and ID Food. The former now oversees state-owned enterprises in tourism-related businesses including airport operators Angkasa Pura I and II, as well as a network of 120 hotels nationwide. The latter includes several companies in the food sector.

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