Indonesia to close more than 750 state-owned enterprises
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13 Articles
Indonesian President Prabowo Subianto is preparing to order the closure of more than 750 loss-making and inefficient state-owned enterprises by the end of this year, in an effort to crack down on corruption and reduce government spending.
"I thought there were 300 or 400 of them, but it turns out that there are 1,074. And these state-owned companies sometimes act as they please," the Indonesian head of state said in his speech on the state of the nation.
The Indonesian government, the fourth most populous country in the world and one of the top 20 world economies, will close over 750 public companies by the end of the year. The announcement was made on Friday by President Prabowo Subianto, who referred to the possibility of setting up a special tribunal to investigate "non-productive", ...
Indonesia to close over 750 state-owned enterprises
JAKARTA — The Indonesian government will close more than 750 state-owned enterprises by year's end, President Prabowo Subianto said Friday, mulling the possibility of a special court to investigate "unproductive" boards.
Indonesia to close more than 750 state-owned enterprises
Southeast Asia's biggest economy has long battled corruption in its public and private sectors despite strengthening anti-graft laws, creating special investigative commissions and arresting several high profile people. "There are far too many unproductive state-owned enterprises, always reporting losses while claiming profits -- those profits are just made up," Prabowo said in his state of the nation address to parliament. With the establishmen…
Indonesia Plans to Cut State Firms From 1,000 to 250
Indonesia · ECONOMY Key Facts —The target: President Prabowo Subianto wants to cut state-owned entities from more than 1,000 to about 250 within two years. —The scale: More than 750 entities would be closed, merged, or consolidated under the plan. —Progress so far: Around 240 to 250 entities had already been closed, merged, or consolidated […] The post Indonesia Plans to Cut State Firms From 1,000 to 250 appeared first on The Rio Times.
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