Jakarta, March 12 -- Deputy Industry Minister Faisol Riza stated that the Indonesian sovereign wealth fund, BPI Danantara, with its substantial asset liquidity of Rp14,700 trillion (US$868 billion), can encourage the development of the domestic aerospace industry.

"Danantara's large assets and liquidity can help our aerospace industry," he remarked at the signing of the cooperation agreement between PT Dirgantara Indonesia (DI) and PT Yogya Presisi Teknitama Industri (YPTI) in Jakarta, Wednesday.

With Danantara's support, state-owned aircraft manufacturer PT Dirgantara Indonesia (DI) is expected to expand its operations independently, without needing external investment.

Riza drew attention to a substantial rise in the demand for aircr...