Prabowo vows to crack down on bad SOE governance, directors

President Prabowo Subianto has announced a plan to eliminate more than 750 state-owned enterprises (SOEs) and open investigations into current and former directors who have been involved with these companies for the past three decades. The goal of this sweeping overhaul is to eliminate unproductive companies and chronic losses. So far, the government has closed 290 out of 1,074 SOEs, and aims to reduce the total number to no more than 300 by the end of the year.

Prabowo asserts that these SOEs often operate with impunity and lack accountability, undermining the nation's confidence in the government. He criticizes the issue of unproductive SOEs continuously reporting profits while making losses by manipulating figures. Additionally, Prabowo highlights the challenges posed by foreign companies working with the SOEs, and vows to put an end to what he perceives as "games."