Indonesia sovereign fund widens focus to food, agriculture, minerals

Chief investment officer says it will align with new president's priorities

A rice field in Indonesia's East Java province. The Indonesia Investment Authority is looking to expand into agriculture and food sectors in its future investments. © Reuters

GITA ROSSIANA, DealStreetAsia

December 8, 2024 16:36 JST

JAKARTA -- Sovereign wealth fund Indonesia Investment Authority (INA) plans to diversify its investment focus in the coming year to support the country's ambitious economic growth targets.

The new Prabowo Subianto-led government has set a target of 8% gross domestic product growth for Indonesia by 2028-29. To support this, the INA will align its investments with the government's priorities, targeting sectors such as food, agriculture, and critical minerals in particular, Stefanus Ade Hadiwidjaja, INA's chief investment officer, said in an interview with DealStreetAsia.