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Fortune
Fortune
Angelica Ang

Indonesia's Danantara bets a new $6B SOE can save a textile industry from Trump tariffs and foreign competition

SoE Danantara Indonesia United States Siwage Dharma Negara
(Credit: ARDI SEPTIAN VIA GETTY IMAGES)

Indonesia plans to establish a new state-owned enterprise (SOE) to rejuvenate its struggling textile and garment industry and shield it from fallout from U.S. President Donald Trump’s tariffs.

The decision, announced on Jan. 14 by Airlangga Hartato, Indonesia’s coordinating minister for economic affairs, places the SOE under the control of Danantara, Indonesia’s sovereign wealth fund, which will pump up to $6 billion into the firm to produce new technology and expand exports. 

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