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Ada Pertanyaan? Hubungi Kami Robert Sidauruk, Fathan Qorib
In the midst of the rupiah’s weaking against the US dollar, many parties are making recommendations to the government on what should be done. Previously, Lawmaker Ecky Awal Muharram (Commission XI), commented that current economic policy packages are insufficient to overcome the root of the problems.Taking a different angle on the situation, economic pundit Ichsanuddin Noorsy believes that there are two pieces of legislations that are hampering the national economic in overcoming the current adversities, Law No. 24 of 1999on Foreign Exchange and Exchange Rate System (“Foreign Exchange Law”), and Law No. 25 of 2007on Investment (“Investment Law”).
“The solution is to amend the Foreign Exchange Law and the Investment Law,” said Mr. Noorsy in Jakarta last Thursday.
According to Mr. Noorsy, both laws have made Indonesia highly vulnerable to every global economic trend, both positive and negative. For instances, Indonesia’s economic was affected by the US financial crisis in 2008, and although the economic situation of the US has now become stronger, Indonesia is still experiencing the same negative exposure.
Responding the idea of amending the Foreign Exchange Law and the Investment Law, lawmaker Johny G Plate (Commission XI) contends that such advice can be followed up in accordance with the prevailing procedures at the House of Representatives.
However, aside from the amendment idea, Mr. Plate believes that the policy packages that have been issued by the government have created various impacts on the national economy, both short and long term.
The government may, according to Mr. Plate, take advantage from the weakening of the rupiah accelerate export activities and suppress imports. One solution to increase exports is repatriation of the funds of Indonesian citizen overseas to Indonesia, currently standing at IDR 4,000 trillion.
“The weakening of the rupiah against the US dollar must be viewed as an opportunity to boost the economy,” said Mr. Plate.
The government has issued six policies to improve and maintain national economic development. The first policy is tax concessions for companies that are willing to reinvestment dividends. The second and third policies are in relation to import duty and visa-free facilities.
The fourth policy is the mandatory use of biofuel to reduce the import of diesel. The fifth policy is the utilization of letters of credit for natural resource businesses such as mining, oil and gas, coal, and palm oil. The last policy covers domestic reinsurance companies.
(hot/kc)
Robert Sidauruk, Fathan Qorib
In the midst of the rupiah’s weaking against the US dollar, many parties are making recommendations to the government on what should be done. Previously, Lawmaker Ecky Awal Muharram (Commission XI), commented that current economic policy packages are insufficient to overcome the root of the problems.Taking a different angle on the situation, economic pundit Ichsanuddin Noorsy believes that there are two pieces of legislations that are hampering the national economic in overcoming the current adversities, Law No. 24 of 1999on Foreign Exchange and Exchange Rate System (“Foreign Exchange Law”), and Law No. 25 of 2007on Investment (“Investment Law”).
“The solution is to amend the Foreign Exchange Law and the Investment Law,” said Mr. Noorsy in Jakarta last Thursday.
According to Mr. Noorsy, both laws have made Indonesia highly vulnerable to every global economic trend, both positive and negative. For instances, Indonesia’s economic was affected by the US financial crisis in 2008, and although the economic situation of the US has now become stronger, Indonesia is still experiencing the same negative exposure.
Responding the idea of amending the Foreign Exchange Law and the Investment Law, lawmaker Johny G Plate (Commission XI) contends that such advice can be followed up in accordance with the prevailing procedures at the House of Representatives.
However, aside from the amendment idea, Mr. Plate believes that the policy packages that have been issued by the government have created various impacts on the national economy, both short and long term.
The government may, according to Mr. Plate, take advantage from the weakening of the rupiah accelerate export activities and suppress imports. One solution to increase exports is repatriation of the funds of Indonesian citizen overseas to Indonesia, currently standing at IDR 4,000 trillion.
“The weakening of the rupiah against the US dollar must be viewed as an opportunity to boost the economy,” said Mr. Plate.
The government has issued six policies to improve and maintain national economic development. The first policy is tax concessions for companies that are willing to reinvestment dividends. The second and third policies are in relation to import duty and visa-free facilities.
The fourth policy is the mandatory use of biofuel to reduce the import of diesel. The fifth policy is the utilization of letters of credit for natural resource businesses such as mining, oil and gas, coal, and palm oil. The last policy covers domestic reinsurance companies.
(hot/kc)