Peran Negara dalam Ekspansi PT Wijaya Karya Tbk ke Afrika: Tinjauan Kapitalisme Negara

Abstract

This paper examines roles of the government in PT Wijaya Karya Tbk, (WIKA)’s active expansion to Africa from the perspective of state capitalism. This paper identifies the role of President Joko Widodo's regime in WIKA’s expansion through (1) centralized planning, which determines target market and expansion goals; (2) economic diplomacy to open new markets and maintain relations and (3) capital assistance, with the state being WIKA’s major stockholder. Through these findings, this paper argues that WIKA's expansion is aimed not only at generating profits, but is also influenced by political factors to spread influence in new markets and for electoral purposes. WIKA is positioned as the national champion in the infrastructure sector, which is deemed as a strategic industry for President Widodo’s Regime. This paper is expected to fill the void of political economy research on the expansion of national SOEs abroad amidst the high needs of domestic infrastructure development.