Politics · Indonesia · 2 hrs ago
Prabowo targets closing or merging 700 state-owned firms by December 2026
President Prabowo Subianto plans to close or merge 700 Indonesian state-owned firms by December 2026.
He said about 364 had already been closed, merged or streamlined from a total of 1,074.
The firms are government-owned businesses, and the plan is to reduce their number and focus on those that generate benefits for the public.
Prabowo says loss-making firms and those with false financial reports will be shut.
He acknowledged that restructuring will take time and cannot happen all at once.
The government’s target is 700 closures or mergers by December 2026, though the process will be gradual.
President Prabowo Subianto says the government aims to close or merge 700 state-owned enterprises by December 2026.
He said about 364 companies had already been consolidated, closed or streamlined by the previous night.
Prabowo said the restructuring would take time and could not happen instantly.
He said companies that were inefficient, losing money or falsifying financial reports would be closed.
- Who
- President Prabowo Subianto announced the target.
- What
- The government aims to close or merge 700 state-owned enterprises.
- When
- By December 2026.
- Where
- Prabowo spoke at a national coordination meeting in North Jakarta.
- Why
- The government says it is seeking efficiency and wants to focus on state-owned companies that generate benefits for the public.
This story does not have two clearly opposing sides.
Prabowo said the government had worked to restructure state-owned enterprises and close those that continued to lose money.
About 364 state-owned enterprises had been consolidated, closed or streamlined, according to Prabowo.
The government aims to close or merge 700 state-owned enterprises.
- Target
- 700 state-owned enterprises to be closed or merged
- Deadline
- December 2026
- Progress
- About 364 consolidated, closed or streamlined by the previous night
- Total cited
- 1,074 state-owned enterprises
- Location
- North Jakarta
2 sources
What people are saying
We are determined now to make 1,000 SOEs more efficient; there are 1,074, and we have consolidated, closed, and streamlined about 364 by last night.
By next December, our target is to close 700.
This transfer, this improvement, cannot happen instantly.
Those that are inefficient, losing money, and have been making false financial reports, we will close.