Man Of The Hour
Forbes Indonesia|October 2018

Coordinating Minister for Maritime Affairs Luhut B. Panjaitan Is at the Helm of the National Committee That Organizes the Imf-world Bank Meetings in Bali.

Taufik Darusman
Man Of The Hour

Early last year, President Joko Widodo (Jokowi) convened a Cabinet meeting on the 2018 IMF-World Bank meetings in Bali. He asked a minister to make a presentation on the event, but barely halfway through the president interrupted him and said: “I appoint Coordinating Minister Luhut Panjaitan as Chairman of the National Committee on the IMF-World Bank Annual Meetings in Bali.” Many in the room were slightly taken aback, but all agreed that Jokowi had made the right choice.

Jokowi couldn’t have assigned a better person for the job. Coordinating Minister for Maritime Affairs Luhut B. Panjaitan, a retired fourstar Army general, already has four ministries under his watch, namely energy and mineral resources; fisheries; tourism; and transportation. But to Jokowi, Luhut is an indefatigable and no-nonsense person with a get-out-of-my-way approach in doing things. Although Luhut had only less than two years to prepare for the meetings, he typically managed to deliver the goods in time— with flying colours.

“It’s 96% ready,” he told Forbes Indonesia at his office overlooking Thamrin Street, the capital city’s main thoroughfare, last month.

“The meetings will benefit Indonesia both short- and long-term, particularly in relation to foreign exchange reserves gain, trade and investment, tourism and, perhaps more importantly, Indonesia’s leadership in the region. I also made sure that the Rp 855,5 billion ($58.26 million) budget for the event will not go to waste,” said Luhut, a former Kopassus (Special Forces) commander.

“The main objective of hosting the meetings is to showcase Indonesia and Asia as reformed, resilient, and progressive economies.”

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM FORBES INDONESIAView all
BACK ON TRACK
Forbes Indonesia

BACK ON TRACK

Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.

time-read
10+ mins  |
December 2021
Championing Locals
Forbes Indonesia

Championing Locals

The wave of social commerce is enabling inclusive digital economies beyond urban areas.

time-read
6 mins  |
December 2021
Boys in the Bubble
Forbes Indonesia

Boys in the Bubble

Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.

time-read
6 mins  |
December 2021
Enduring Relations
Forbes Indonesia

Enduring Relations

The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.

time-read
6 mins  |
December 2021
Sweet Success
Forbes Indonesia

Sweet Success

Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.

time-read
5 mins  |
December 2021
Marathon Man
Forbes Indonesia

Marathon Man

Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.

time-read
5 mins  |
December 2021
Gold Rallies on Inflation Fears
Forbes Indonesia

Gold Rallies on Inflation Fears

During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.

time-read
2 mins  |
December 2021
Set Off to A New Start
Forbes Indonesia

Set Off to A New Start

Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.

time-read
5 mins  |
December 2021
The Daily Intake
Forbes Indonesia

The Daily Intake

YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.

time-read
4 mins  |
December 2021
THE CROESUS OF CRYPTO
Forbes Indonesia

THE CROESUS OF CRYPTO

FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.

time-read
10+ mins  |
November 2021