Indonesia’s Omnibus Law and Sovereign Wealth Fund (SWF)
INDONESIA STUDIES PROGRAMME & REGIONAL ECONOMIC STUDIES PROGRAMME WEBINAR
About the Webinar
On 5 October 2020, the Indonesian Parliament passed the job creation law (Undang Undang Cipta Kerja, commonly known as the “Omnibus Law”). The Law was designed to improve the overall business environment, thus attracting more investments into Indonesia, both foreign and local. Under this law, the government creates an investment vehicle called the Indonesia Investment Authority (INA or in Bahasa “Lembaga Pengelola Investasi” or LPI). Although often called a Sovereign Wealth Fund (SWF), the Indonesia Investment Authority is quite different from other SWFs. This webinar invites two senior economists, Anton Gunawan and Reza Siregar, both of whom have been advising the government, as well as a member of INA’s Supervisory Board, Cyril Noerhadi, to discuss the background to INA’s establishment, its objectives, and role as well as how it is expected to work.
About the Speakers
Anton Gunawan is Lead Adviser on Economics, Finance and Inclusion Thematic Area of PROSPERA, leading a team of researchers who are doing macroeconomic, financial, private sector and socio-economic development and policy research since May 2019, and helping advise several Ministries and Regulators. He has been advising the Fiscal Policy Office (BKF) of the Ministry of Finance in the area of Macroeconomic Policy and Financial Sector Stability and Development since May 2015, under the Australia-Indonesia Partnership for Economic Governance (AIPEG) and PROSPERA Projects. Gunawan is also a member of PROSPERA’s “Team Asistensi” advising the Coordinating Minister for Economic Affairs in the area of Macroeconomic Policies and Financial Sector Development. Prior to this, he held various positions at Bank Mandiri, Bank Indonesia, Bank Danamon, and Citigroup. In early 2014 Anton was named as the Global Best Economic Forecaster for Indonesia economy for 2012-13 by Bloomberg Markets Magazine. Gunawan earned Master of Philosophy and Master of Arts from Columbia University and the University of Chicago, respectively.
Reza Y. Siregar is currently a Special Advisor to the Minister at the Coordinating Ministry of Economic Affairs, Republic Indonesia. He has been a faculty member at the Bank Indonesia institute since 2016. He also serves as Senior Financial Sector Adviser to PROSPERA. Prior to the current positions, Siregar was the Chief Representative of the Singapore Office and Head of ASEAN and Indian Research at the Institute of International Finance, and a Senior Economist at the International Monetary Fund, and an Executive Director and Chief ASEAN Economist for Global Macro Research at Goldman Sachs (Singapore) Pte. He has held a variety of other positions at the IMF, the Asian Development Bank, the ASEAN+3 Macroeconomic Research Office, the SEACEN Center, and in academia at the National University of Singapore, University of Adelaide, and Australian National University. Siregar earned his PhD in Economics from Brown University in 1994.
Darwin Cyril Noerhadi currently serves as Board of Supervisor to the Indonesia Investment authority (INA). He is one of the most prominent investors in Indonesia – with his growth fund having raised and invested USD 1.5 billion across Indonesia, Malaysia, India, and Vietnam; he has also been a senior leader for the development of INA concept. Noerhadi holds several Board positions in leading Indonesian companies, including Hermina (one of Indonesia’s leading hospital chains), Austindo (natural resource business group), and Mandiri Sekuritas (largest Indonesian securities company). Prior to that, Noerhadi has held top executive positions including the CEO of Jakarta Stock Exchange, the CFO of Medco Energi, and Corporate Finance leader of PriceWaterhouseCoopers in Indonesia. He holds a PhD in Strategic Management from the University of Indonesia and a Master of Business Administration in Finance and Economics from the University of Houston, USA.
This webinar will be delivered online entirely. You can join the webinar at the specified date and time using devices (computer, phone, or tablet) with internet connection.
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