Coordinating Minister for the Economy Airlangga Hartarto said the government continues to encourage optimization of the use of Natural Resources (SDA) and acceleration of natural resources downstream.
Recently, PP Number 36 of 2023 has been issued concerning Foreign Exchange Export Results from Entrepreneurship, Management and/or Natural Resources Processing Activities (PP DHE SDA), as a revision of PP Number 1 of 2019.
"We must optimize all the utilization of our natural resources, so that for the export of natural resources, the funds/devisa generated in the form of DHE must be included and placed into the Indonesian Financial System (SKI). Thus, it will increase the liquidity of foreign exchange and encourage increased financial services," he said in a written statement quoted on Sunday, July 30.
According to Airlangga, the potential for optimization of DHE SDA is very large, from 2022 data, DHE data from 4 sectors that are mandatory for DHE (mining, plantation, forestry, fisheries) totaling 203.0 billion US dollars a year or 69.5 percent of total exports.
"With the provision that 30 percent of DHE SDA must be stored in SKI, there is at least the potential for domestic foreign exchange liquidity (the proceeds from the placement of DHE SDA) amounting to 60.9 billion US dollars," he said.
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Airlangga explained that the DHE SDA obligation is only enforced on SDA exports whose export value is at least 250,000, so it will not have an impact on small and medium exporters.
"Small and medium exporters who are MSMEs will not be affected by this DHE SDA obligation. They can even voluntarily place their DHE SDA, to get interest incentives and tax facilities," he said.
For information, this DHE scheme has been implemented in various countries, starting in Malaysia, Thailand, Vietnam, India and Turkey. Therefore, the implementation of the DHE SDA in Indonesia is a common thing to do in various countries, and in Indonesia the policy of entering DHE into SKI since around 2011.
"PP 36/2023 will take effect on August 1, 2023, and an evaluation of its implementation will be carried out within the next 3 months," he concluded.
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