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A New Business Plan for SOEs

Monday, July 20, 2020

The SOEs ministry will continue to scale back the number of state-owned companies. Many of them have been running inefficiently.

State-Owned Enterprises Ministry, Jakarta. TEMPO/Tony Hartawan. tempo : 173056434846.

THE 2018 financial report for state-owned enterprises (SOEs) was enough to convince Erick Thohir that the number of state companies must be significantly reduced. In fact, the report brought some good news: total SOEs profits reached Rp210 trillion that year, or 12 percent more than the previous year. But the profits obscured a certain issue, namely that three quarters of the amount was made by only 15 companies.

Now, nine months after he took o

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