Published on October 29, 2025, by Detik Finance
By Shafira Cendra Arini
Jakarta – Minister of Finance Purbaya Yudhi Sadewa responded to 7th President Joko Widodo’s (Jokowi) statement regarding the Jakarta-Bandung High-Speed Train (KCJB), or Whoosh. The project is considered a form of social investment.
Purbaya agrees that the Whoosh project is not merely about profit, but rather a form of social investment. He believes that the first high-speed train project in ASEAN is also part of a regional development mission.
“There’s some truth to that, because Whoosh actually has a regional development mission,” Purbaya said at the Bank Mega Tower, Jakarta, Tuesday (October 28, 2025).
Unfortunately, however, development of the areas surrounding the Whoosh line has not been optimally implemented, particularly at the train stations. This is crucial for supporting regional economic growth.
“But perhaps the areas that haven’t been developed are those with stops along the Whoosh line to support the surrounding economy. That needs to be developed in the future, so there’s some truth to it,” he said.
Asks Danantara to Pay High-Speed Rail Debt
Furthermore, Purbaya also touched on the issue of high-speed rail debt repayment. He remains firm in his stance that he will not disburse state funds to help pay the project’s debt.
He said, with the Daya Anagata Nusantara Investment Management Agency (Danantara) stepping in to pay the debt, the country’s fiscal risk will be reduced.
“There’s no fiscal risk now; Danantara should be the one paying the debt,” Purbaya said.
Furthermore, Purbaya was previously not involved in Indonesia and China’s plans to negotiate a debt settlement for the Jakarta-Bandung, or Whoosh, high-speed rail project.
The Ministry of Finance will, as far as possible, avoid involvement in the high-speed rail debt settlement. It is hoped that the issue can be resolved through business-to-business (BtB) negotiations between the parties involved.
Jokowi’s Statement on High-Speed Rail
For your information, the 7th President, Joko Widodo, has already spoken out about the debt controversy surrounding the Whoosh project. Jokowi emphasized that the construction of the high-speed rail is part of the investment.
Citing detikJateng, Jokowi explained that the High-Speed Train project stemmed from the losses caused by severe congestion in Greater Jakarta (Jabodetabek) and Bandung. This severe congestion has been a persistent problem for the past 40 years.
“Including Bandung, the congestion is also severe. Calculations show that the state loses approximately Rp 65 trillion per year in Jakarta alone. If we add Greater Jakarta and Bandung, it’s already over Rp 100 trillion per year,” Jokowi said, as quoted by detikJateng.
Therefore, he believes that transportation modes are needed to reduce losses. Jokowi believes that mass or public transportation cannot be viewed solely from a profit perspective, but also from its social benefits, one of which is reduced carbon emissions.
“So, once again, mass or public transportation is not measured by profit, but rather by social benefits. Social return on investment, for example, reduced carbon emissions,” he said.
“That’s where the social benefits derived from developing mass transportation lie. So, once again, subsidies are an investment, not a loss,” he continued.
Haji Isam Joins Meeting with Danantara CEO and TNI Commanders
Published on October 27, 2025, by TEMPO
The Owner of PT Jhonlin Agro Raya Tbk (JARR), Andi Syamsuddin Arsyad, joined a coordination meeting with Daya Anagata Nusantara Investment Management Agency, also known as Danantara. The weeting was revealed on Danantara Chief Executive Officer Rosan Roeslani’s Instagram post on Sunday (26/10).
In the video, the man who is known as Haji Isam attended the meeting discussing mineral industry in the country. “Mineral industry coordination is increasingly strategic for Indonesia,” Rosan wrote in the caption of the video he uploaded.
Besides Isam, the meeting was also attended by Minister of Defense Sjafrie Sjamsoeddin, Minister of Higher Education Brian Yuliarto, Commander of the Indonesian National Armed Forces General Agus Subianto, Chief Investment Officer of Danantara Pandu Patria Sjahrir, and a number of other officials.
Rosan said the meeting also discussed Danantara’s strategic steps in strengthening the nation’s mineral ecosystem. “From downstreaming to investment,” he said.
According to the Investment Minister, President Prabowo Subiato has instructed for critical minerals to be used for defence and electric vehicle’s development. The step, he said, for the sovereignty of resource and sustainable economics.
This wasn’t Haji Isam’s first time attending the Dananatara event. He also participated in the launch of Danantara on Monday, February 24, 2025.
In late 2024, Haji Isam attended a meeting with delegates from the Japan-Indonesia Association (JAPINDA) and the Jakarta Japan Club (JJC) at the State Palace on Friday afternoon, December 6, 2024. Haji Isam sat among the ministers accompanying Prabowo.
In his remarks, Prabowo introduced Haji Isam to the Japanese delegates. “Mr. Andi Syamsudin Arshad, a prominent businessman from Kalimantan,” said the retired Indonesian National Armed Forces General in English, as translated by Tempo.