Global Leaders Forum: Rini Soemarno, Minister for State-Owned Enterprises of Indonesia

The CSIS Southeast Asia Program was pleased to present the Global Leaders Forum with Her Excellency Rini Soemarno, Minister for State-Owned Enterprises of the Republic of Indonesia. This event served as the official launch of a new initiative between CSIS and Bank Negara Indonesia focused on U.S.-Southeast Asia economic relations. Minister Rini Soemarno discussed this initiative as well as U.S.-Indonesia relations, the status of the Indonesian economy, and the role of State-Owned Enterprises in achieving national objectives.

Minister Soemarno gave an overview of current state of the Indonesian economy and President Joko Widodo’s efforts to spur economic development. Thus far, these efforts have focused on incorporating SOEs as major actors of economic growth and on increasing opportunities for foreign investment in Indonesia. “SOEs have a significant impact on Indonesia’s development, including infrastructure building, poverty eradication, and financial inclusion” said Minister Soemarno, noting that “in the past few years, SOEs have performed well in line with the nation’s development.” In recent years, Indonesia’s SOEs have played an integral role in electrification projects, land connectivity, littoral and air facilities development. Most significantly, SOEs have made large strides in developing telecommunication and the digital economy, increasing Indonesia’s fiber optic connectivity with the rest of the world, all of which have great potential for expansion in the foreseeable future. Minister Soemarno concluded her remarks by stating that SOEs open more opportunities for foreign investment, particularly in the renewable energy, mining, and tourism sectors by inviting foreign partners and pushing for a reduction in regulatory hurdles. 

Rini Soemarno was appointed Minister for State-Owned Enterprises of Indonesia in October 2014. She previously served as the chairwoman of President Joko Widodo’s transition team in 2014. She also served as Minister for Industry and Trade from 2001 to 2004 under President Megawati Sukarnoputri. In addition to her time in public service, Rini Soemarno has extensive experience in business, previously holding positions at Astra International and Citibank Jakarta, among others. She holds a bachelor's degree in economics from Wellesley College in Massachusetts.

This event was made possible with support from Bank Negara Indonesia.