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Indonesia's export rules create confusion amid revenue drive

Indonesia has implemented new regulations aimed at boosting its foreign exchange reserves by cracking down on commodity exports. These rules mandate that most non-oil and gas exporters must deposit 100% of their earnings in state-owned banks for a year. However, exemptions exist for countries with existing trade agreements, who only need to deposit 30% for three months, leading to widespread confusion among businesses. AI

RANK_REASON New national-level economic policy with significant potential impact on trade. [lever_c_demoted from significant: ic=1 ai=0.1]

Read on SCMP — Tech →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Indonesia's export rules create confusion amid revenue drive

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New national-level economic policy with significant potential impact on trade. [lever_c_demoted from significant: ic=1 ai=0.1]
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130 days old
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Resty Woro Yuniar ·

    Chasing billions: Indonesia’s commodity export crackdown sows confusion

    Indonesia lost nearly US$1 trillion in resource wealth over a 34-year period due to deceptive trade practices, President Prabowo Subianto declared in parliament on May 20. That same day, a set of new export controls was unveiled. Foreign-exchange earnings would be locked in Indon…