Jakarta, Aug. 14 -- President Prabowo Subianto announced Friday that net profits from state-owned enterprises (SOEs) will be funneled directly into accelerating national industrial downstreaming initiatives and integrating Indonesia into high-tech global supply chains.

Delivering his annual state address before the People's Consultative Assembly (MPR) at the Parliament Complex in Jakarta, Prabowo emphasized that state corporate revenues are pivotal to financing the nation's key industrial ambitions.

"SOE profits are now being used to accelerate our downstreaming efforts," Prabowo said.

Indonesian SOEs recorded a net profit of Rp360 trillion ($22 billion) in 2025, up 75.3 percent from Rp186 trillion ($10.43 billion) in 2024.

Consequent...