IMPLEMENTATION OF MEANINGFUL PARTICIPATION IN THE FORMULATION OF REGULATIONS CONCERNING THE DANANTARA INVESTMENT MANAGEMENT AGENCY

Danantara, as Indonesia’s leading investment management agency, is expected to play a considerable role in Indonesia’s economic development, particularly in driving the operational and investment management of national state-owned enterprises. Due to its importance, Danantara’s regulatory formulation requires public participation to achieve efficacy in Danantara’s working system. This paper aims to investigate the institutionalized participatory procedures and mechanisms that can facilitate meaningful participation, which can then be applied to assess the presence of meaningful involvement in the enactment of Danantara’s regulation. Using a normative approach, this paper concludes that Indonesian laws and precedents have focused more on procedural issues, which are not supported by the broadening of methods and mechanisms for public consultation and the dissemination of information. Consequently, public participation is arduous to achieve, including in the establishment of Danantara’s Regulation.