Jakarta, July 20 -- President Prabowo Subianto emphasized that Danantara, Indonesia's sovereign wealth fund, has shown significant progress in restructuring state-owned enterprises (SOEs), reducing the number of business entities by 250 within 18 months.

Chairing a plenary cabinet meeting at the State Palace in Jakarta on Monday, the president lauded Danantara leaders for consolidating and merging 250 of the 1,077 companies and subsidiaries, noting the achievement as unique to Indonesia.

"There is no other country in the world capable of shutting down 250 state-owned enterprises in a year," Prabowo affirmed.

He went on to stress that the major reduction of SOEs is only the beginning of a broader restructuring drive.

Danantara, he said...