JAKARTA The government is preparing the latest regulations regarding the provisions for foreign exchange of export products (DHE) for natural resources (SDA).
Coordinating Minister for Economic Affairs Airlangga Hartarto conveyed that the government with Bank Indonesia (BI) and banks are preparing incentives to be given to exporters who place DHE SDA in the country.
"Yes, we are preparing with BI and banks. The incentives are interesting," he told reporters, Wednesday, January 8.
According to Airlangga, these incentives are currently being discussed with several parties in order to compete with other countries such as Singapore.
"We are still finalizing this and we will also talk to related parties, with banking and facilities, we are competing with Singapore," he said.
In addition, Airlangga conveyed that related to one of the revised results of the DHE SDA policy, namely the extension of the period of obligation to park funds for domestic exporters to at least one year from the previous 6 months.
Currently, the rules that apply in PP Number 36 of 2023 concerning Export Result Foreign Exchange, where exporters are required to store DHE SDA at least 30 percent in the Indonesian financial system with a minimum period of 3 or 6 months.
"DHE is not 6 months, longer. At least one year," said Airlangga.
Airlangga explained that the consideration for storing longer export funds in Indonesia is expected to strengthen foreign exchange reserves in the country.
"Yes, the consideration is that we hope to strengthen our foreign exchange," he said.
For information, until the end of 2024 the position of Indonesia's foreign exchange reserves was 155.7 billion US dollars. This figure increased compared to the end of November 2024 of 150.2 billion US dollars.
However, Airlangga is still reluctant to mention in detail the rules, including the interest incentives to be provided. However, he has not been able to explain when exact the rules related to the DHE SDA policy will be issued.
"The rules are coming soon," he said.
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Previously, the government was preparing regulations regarding the revision of the Natural Resources Export Result Foreign Exchange (DHE) policy which is planned to be published in January 2025.
"We are still preparing the regulations, later when the regulations are completed. Later we will announce it to the public," said Airlangga at his office, Friday, December 20, 2024.
Airlangga explained that the rules include Government Regulations (PP), Minister of Finance Regulations (PMK), Bank Indonesia Regulations (PBI), to Financial Services Authority Regulations (POJK).
"When will we prepare PP and PMK, we will also prepare the PBI and also from the OJK. The time frame may be about a month from now," he explained.
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