Jakarta, Feb. 24 -- Indonesia is accelerating its technological self-reliance strategy after sovereign wealth fund Danantara signed a framework cooperation agreement with leading chip design firm Arm Limited, witnessed by President Prabowo Subianto in London on February 23.

The signing marks a new step in Indonesia's efforts to build a national semiconductor industry. Danantara was represented by its Chief Executive Officer and Minister of Investment and Downstreaming Rosan Roeslani. The ceremony was also attended by Minister of Energy and Mineral Resources Bahlil Lahadalia, Coordinating Minister for Economic Affairs Airlangga Hartarto, and Cabinet Secretary Teddy Indra Wijaya.

Hartarto said the partnership follows President Prabowo's d...