“What has been successful under our current president has to be continued for Indonesia,” the 53-year-old said. “Continuity in policy is very important.”

When asked if he would pair up with any of the leading presidential candidates, Thohir was tight-lipped, but did not disagree when it was put to him that there was widening consensus that he was among analysts’ favourites to be a vice-presidential nominee. He said he had built a strong level of trust with multiple political parties by being transparent and consistently showing good results since entering politics in 2018.

He also reasserted his support for Widodo’s leadership, including his ambitious US$32 billion project to move the capital from Jakarta to Nusantara.

With candidate registration in October fast approaching, analysts suggest Thohir might have already been making moves to leverage support if he does decide to throw his hat into the ring.

Of particular interest was his successful bid this year to become chairman of national governing body the Football Association of Indonesia – an influential position in a country brimming with fans of the sport.

Building political capital

In the city, he inaugurated Indonesia Incorporated, a hub that seeks to help the country’s state-owned enterprises expand worldwide. Thohir said Indonesia had plans to introduce other offices in Dubai, London, New York and Singapore.

Profits from Indonesia’s state-owned enterprises rose at least 143 per cent in 2022, reaching 303.7 trillion rupiah (US$20 billion). This is a huge jump from the US$860 million Thohir said was made in his first year as minister in 2020.

“We are now exploring more and more partnerships between Indonesia and global players, between state enterprises and strategic partners in the private sector,” said Thohir, whose own net worth in 2021 was reported to be 2.319 trillion rupiah (US$158 million).

“Through this transformation, we can create job opportunities, but at the same time we can become more open in terms of managing our companies and [allowing] them to go public.”

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In the interview with This Week in Asia, Thohir also alluded to growing investments from Chinese and European manufacturers, including China’s CATL and Germany’s Volkswagen, as Indonesia aspires to create an end-to-end electric vehicle supply chain on its shores.

“We do not want to supply raw materials, because this does not create value for Indonesia,” Thohir said. “We need job creation in Indonesia. If we don’t do this, this will become a problem for us in the next five to 10 years.”

Loyalty to Widodo

In June, research group Indikator Politik Indonesia published survey results that indicated the race for the vice-presidency would be tight between Thohir and Widodo’s most trusted aide, Mahfud MD, the coordinating political, legal, and security affairs minister, with the two receiving 15.5 per cent and 15.4 per cent of votes, respectively.

While Thohir has as yet no affiliations with any political party, he may have the support of the pro-Widodo National Mandate Party (PAN), which has openly campaigned for him as a potential running mate.

PAN is one-third of the United Indonesia Coalition, alongside the Golkar party and the United Development Party (PPP). PAN remains closely aligned with Golkar, and the two parties combined control more than 22 per cent of seats in the House of Representatives, putting them over the required threshold to nominate a candidate.

“We hope that [one of the front runners] will choose Erick Thohir as a vice-presidential candidate,” PAN secretary general Eddy Soeparno said last month, according to local news outlet Tempo.

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PAN has previously said it is open to supporting either Ganjar Pranowo – the nominee of the ruling Indonesian Democratic Party of Struggle who has Widodo’s backing – or Prabowo Subianto, Gerindra Party chairman and Widodo’s defence minister.

Also in the mix at the top is Anies Baswedan, whose close ties with conservative Muslim parties and inclination for identity politics have often placed him as the antithesis of the moderate Widodo.

For Thohir, who is looking for a leader who might carry Widodo’s politics forward, Anies would be the least likely pairing.

“It’s not perfect, of course. Every government has its own weakness, but the fact is that President Jokowi’s approval [rating] is at 82 per cent, so he’s doing something right. Some of his policies, we should continue,” he said.

“So if you asked me which one of the three candidates [I’d go with], let’s see who has the commitment to continue this legacy for Indonesia.”

Leveraging football

Already creating buzz in Indonesia is the recent announcement that the country will host the 2023 Fifa Under-17 World Cup later this year.

The cancellation triggered a wave of sadness and anger from the football-crazy country.

Thohir, who previously owned Italian club Inter Milan, has largely been credited with helping Indonesia get a foot in the international football scene, but the minister denied suggestions he had lobbied Fifa President Gianni Infantino to grant Indonesia the hosting rights.

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“Do not mix politics and sports,” Thohir said, reflecting on the incident in March. But observers say the chance to host again may give the minister an apt launch pad for an electoral bid, winning the support of the country’s football fans and young people, with those aged below 42 making up more than half of voters in the coming election.

For now, Thohir emphasises that his focus is strictly on his current roles.

“I have made strong statements many times that I am loyal to the president because I am on his team,” he said. “Right now, I’m focusing on the two assignments that he has asked me to do.

“Number one is the transformation of the state enterprise sector, and number two is football. I will try to do my best to deliver the results, and I hope that he is happy.”