{
    "success": true,
    "data": {
        "id": 1772661,
        "msgid": "improving-commodity-export-governance-can-strengthen-economic-sovereignty-1780057622",
        "date": "2026-05-29 16:49:00",
        "title": "Improving Commodity Export Governance Can Strengthen Economic Sovereignty",
        "author": "indrastuti",
        "source": "MEDIA_INDONESIA",
        "tags": "",
        "topic": "Trade",
        "summary": "PT Danantara Sumberdaya Indonesia (DSI) has been established as a state-owned enterprise to enhance strategic commodity export management, aiming to bolster Indonesia's economic sovereignty. Experts highlight the importance of transparency, data integration, and preventing under-invoicing to capture more foreign exchange revenue, which will directly fund national development projects and strengthen macroeconomic stability.",
        "content": "<p>The establishment of PT Danantara Sumberdaya Indonesia (DSI), a\nstate-owned enterprise formed to improve the management of strategic\nnational commodity exports, is viewed as a crucial structural reform to\nstrengthen economic sovereignty. Transparency, accountability, data\nintegration, and professional management are key to DSI\u2019s success in\nensuring that natural resources, which have long been the backbone of\nthe national economy, deliver tangible benefits to all citizens.\nEconomist and Public Policy Expert from UPN Veteran Jakarta, Achmad Nur\nHidayat, stated that Indonesia\u2019s issue is not a lack of commodities but\na loss of value from them. DSI, as a state-owned enterprise for\nstrategic commodity exports, can be likened to a dam\u2019s sluice gate, with\nnatural wealth being the water. \u2018If the sluice gate is managed well,\nwater flows to rice fields, electricity, industry, and public welfare.\nIf it leaks, water still flows heavily, export ships still sail, and the\ntrade balance appears active, but the value that should enter the\nnational coffers is lost along the way,\u2019 Achmad said on Thursday (28\nMay). According to Achmad, DSI must serve as an instrument of economic\nsovereignty, not merely a rebranding of old trade systems. Therefore,\nthe first indicator DSI must demonstrate from the outset is transparent\nexport pricing. DSI\u2019s success is measured by data: recorded export\nvalue, volume, foreign exchange inflows, deviations from benchmark\nprices, additional tax revenue, royalties, and Non-Tax State Revenue\n(PNBP). The second indicator is compliance with foreign exchange\nearnings. He noted the government has strengthened the Natural Resource\nExport Foreign Exchange (DHE SDA) policy through Government Regulation\nNo.\u00a08\/2025, amending Regulation No.\u00a036\/2023 on natural resource export\nforeign exchange. This regulation mandates the placement of DHE SDA\nwithin domestic financial systems to maximise export benefits for\nnational liquidity. \u2018Here, DSI must function as an execution engine,\nensuring export foreign exchange is received, recorded, monitored, yet\nstill available for legitimate purposes such as tax payments, PNBP,\ndebts, dividends, raw materials, and global obligations,\u2019 he added.\nAchmad explained that one of the most sensitive challenges DSI faces on\nthe ground is under-invoicing. Thus, he urged DSI to implement a risk\nscoring system for transaction monitoring. Price variations can\nlegitimately occur due to quality, moisture content, or long-term\ncontracts. Strict monitoring should prioritise transactions with large,\nrecurring price deviations involving foreign affiliates, while\nsafeguarding business interests. Companies selling to related entities\nin low-tax jurisdictions at prices significantly below market rates must\nbe prioritised for scrutiny. With a focus on business interests, he\nstressed the importance of the right of reply and legal certainty for\nexporters to ensure compliance measures maintain a conducive investment\nclimate. Cross-agency data integration is key for DSI to effectively\nplug leakage gaps,\u2019 he said. Moreover, Achmad stated that DSI\u2019s success\nin mandating strategic export revenue flows into domestic financial\nsystems would strengthen macroeconomic foundations. He hopes DSI\u2019s\nmanagement of strategic commodity export foreign exchange will provide\ndeeper foreign currency liquidity for national banks. DSI could be a\ncrucial structural reform if it operates with transparency, data\nintegration, real-time audits, and clear authority allocation,\u2019 he\nconcluded. Previously, Chief Investment Operating (CIO) of Danantara\nIndonesia, Pandu Sjahrir, affirmed DSI would operate transparently. The\nmain challenge for DSI lies in execution and corporate governance moving\nforward, so Danantara aims to build openness from the company\u2019s\ninception. DSI enforcement is projected to redirect 10%-20% of potential\nunder-invoicing funds back into the country. This surge in natural\nresource revenue will directly secure funding for national development\nprogrammes, including the MBG initiative. An economist from Andalas\nUniversity assessed that PT DSI\u2019s establishment by Danantara Indonesia\neffectively curbs under-invoicing and strengthens national economic\nsovereignty. The government has mandated coal, palm oil (CPO), and\nferroalloy exports to be channelled exclusively through DSI starting\nSeptember 2026 to strengthen foreign exchange reserves.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/improving-commodity-export-governance-can-strengthen-economic-sovereignty-1780057622",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}