The Effect of Government Policy on SOE Investment Strategies in the Development of National Infrastructure on Toll Roads (Review of Law no. 25 of 2004 Concerning the National Development System)

Abstract

The policy direction National Development is carried out based on democracy with the principles of togetherness, justice, sustainability, environmental insight, and independence by maintaining balanced progress and national unity until the presence of law No. 25 of 2004 expected as a basis for determining the direction of investment infrastructure development policies carried out by state-owned companies, state-owned companies as institutions regulated by Law No. 19 of 2003 About State-Owned Enterprises as a business entity whose capital is wholly or primarily owned by the state through direct participation originating from separated state assets. Most state-owned companies invest in infrastructure development in Indonesia such as toll roads, it is proven that several state-owned companies are involved in the proven direction of infrastructure development policies targeting toll roads, and currently business king toll roads are controlled by State-Owned Enterprises (BUMN), namely PT Jasa Marga (PERSERO) TBK, development investments made by state-owned companies to support the policy direction of President Joko Widodo's government regarding infrastructure development such as toll roads in order to increase investment competitiveness and support sustainable economic growth, but unfortunately the construction of various toll road sections does not look at the long-term profit side of investment where the government through its state-owned companies issues policies related to the sale of toll road sections as an investment, even though on the other hand it is actually a sale to cover the debt burden in the BUMN financial balance sheet.