Jumat, November 30, 2018

Government Hints at Provisions Included in the Draft Government Regulation on Foreign Exchange Deriving from the Proceeds of Exports of Natural Resources

The government recently announced its 16th Economic Policy Package. In essence, the new economic policy package addresses three main areas, including the issuance of a new government regulation on foreign exchange deriving from the proceeds of exports of natural resources (devisa hasil ekspor untuk sumber daya alam – “DHE SDA”).
The new regulation is currently still being deliberated by the government. However, according to a recent press release issued by the Coordinating Minister of Economic Affairs, the Draft Government Regulation on Foreign Exchange Deriving from the Proceeds of Exports of Natural Resources (“RPP”) will focus on the following four specific areas: 1) Mining; 2) Plantations; 3) Forestry; and 4) Fisheries.
In addition, four main topics will be regulated under the RPP, including: 1) The utilization of usable DHE SDA (e.g., foreign loans, profits/dividends, etc.); 2) Procedures for the utilization of DHE SDA; 3) Payments of foreign loans, through the use of overseas escrow accounts; and 4) Supervision of DHE SDA within the Indonesian financial system by the Minister of Finance and Bank Indonesia.
For more on this story, see Hukumonline: “Mengintip Pengaturan Devisa Hasil Ekspor Dalam RPP DHE SDA”.

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The government recently announced its 16th Economic Policy Package. In essence, the new economic policy package addresses three main areas, including the issuance of a new government regulation on foreign exchange deriving from the proceeds of exports of natural resources (devisa hasil ekspor untuk sumber daya alam – “DHE SDA”).
The new regulation is currently still being deliberated by the government. However, according to a recent press release issued by the Coordinating Minister of Economic Affairs, the Draft Government Regulation on Foreign Exchange Deriving from the Proceeds of Exports of Natural Resources (“RPP”) will focus on the following four specific areas: 1) Mining; 2) Plantations; 3) Forestry; and 4) Fisheries.
In addition, four main topics will be regulated under the RPP, including: 1) The utilization of usable DHE SDA (e.g., foreign loans, profits/dividends, etc.); 2) Procedures for the utilization of DHE SDA; 3) Payments of foreign loans, through the use of overseas escrow accounts; and 4) Supervision of DHE SDA within the Indonesian financial system by the Minister of Finance and Bank Indonesia.
For more on this story, see Hukumonline: “Mengintip Pengaturan Devisa Hasil Ekspor Dalam RPP DHE SDA”.

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