Indonesia hires foreign consultants to renovate SOEs hinh anh 1Indonesian Deputy Minister of State-Owned Enterprises Budi Gunadi Sadikin (Photo: Jakarta Post)

Jakarta (VNA) - Indonesia is working with consultants McKinsey & Co. and Boston Consulting Group to revamp state firms with an annual revenue of 172 billion USD and dominate sectors from energy to construction and telecom.

Deputy Minister of State-Owned Enterprises (SOEs) Budi Gunadi Sadikin said the global consultants will prepare a roadmap for the 114 SOEs.

The revamp plan will be in line with President Joko Widodo’s 2020-2024 national plan and is expected to be finalised by the end of February, he said.

According to him, the SOEs will be restructured to promote business innovation, technological leadership and the ability to partner with world-class companies.

Global partnerships will be key for state firms as President Widodo wants to transform Indonesia into a manufacturing powerhouse from a supplier of raw materials, he said, adding that the country has set its eyes on becoming a hub for electric batteries with its huge nickel reserves and processor of crude palm oil and coal into fuel to power vehicles and substitute liquefied petroleum gas./.