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Tuesday, 14 September 2021 12:31

Minister Erick Thohir outlines four key areas of SOE transformation

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State-Owned Enterprises Minister Erick Thohir has revealed the four main transformations expected in SOEs, saying the current transformation is not part of restructuring the enterprises or shrinking their number from 108 to 41.

"The transformations that we expect in SOE companies are actually four. First, we will ensure that the SOE as a corporation can make a consistent and large contribution to the state," the minister said at the online signing of the Ultra Micro SOE Holding Deed on Monday.

SOEs already have a track record of contributing Rp3,295 trillion over the last 10 years to the state in the form of taxes and dividends, he noted.

"But the question is: with the current state of this pandemic, the contribution of SOEs to the state must not decrease. One way to overcome this is by ensuring supply chains and ecosystems to make efficiency so that SOEs financials are still getting healthier," Thohir said.

Second, due to the COVID-19 pandemic, people's lives have changed and digitalization has also changed, he observed. Thus, SOEs must prepare to compete in a very open market, he said.

"And this is what we ask for post-COVID conditions: SOEs have a very strong business model. That is why, for example, we merged Pelindo, so that the SOE's container business becomes large and can be ranked as the eighth largest in the world. Or, we can synergize ultra micro SOEs and MSMEs, so that we have the strength to balance the economy," he added.

Third, how the SOE transformation actually impacts the community needs to be traced, the minister said. Easy access to funding needs to be ensured, especially in the ultra micro sector, he added.

"We can also reduce interest from Ultra Micro SOEs Holding to be even more competitive," he remarked.

Fourth, it is important that internally, SOEs are sustainable in every aspect, so that the transformation carried out by the previous leadership can be followed by the next leaders, Thohir said.

"The problem is: sometimes it is not sustainable, the administration is ideal for today but not implemented in the future. This is why I emphasize how the transformation of SOE human resources is also important, so it is not just business transformation. So these are the four points we hope in the future," Thohir added. (Antaranews)

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