Prabowo strengthens foreign exchange earnings policy for natural resource exports

Jakarta — President Prabowo Subianto has strengthened the foreign exchange earnings (DHE) policy for natural resources (SDA) through government regulations concerning the foreign exchange earnings from activities of exploitation, management, and processing of natural resources. “The government I lead today also strengthens the foreign exchange earnings policy through government regulations on the foreign exchange earnings from the activities of exploitation, management, and processing of natural resources,” said the President. He said this while delivering the Macro Economic Framework and Fiscal Policy Package (KEM-PPKF) at the 19th Plenary Session of the Indonesian House of Representatives (DPR RI) in the Parliament Complex, Senayan, Jakarta, on Wednesday. The President said the policy aims to ensure that the contributions of business players in the natural resources sector can be optimised for the greatest welfare of the people. He emphasised that the land, water, and all natural resource wealth of Indonesia belong to the people and the nation of Indonesia. He said the government still needs a dynamic private sector as well as entrepreneurs who have innovation, initiative, and good managerial capability. “I ask you all not to conclude that Indonesia does not need an economy in which the private sector plays a large role. On the contrary, we need the private sector; we need to support the private sector. We need a dynamic private sector,” he stressed. According to Prabowo, Indonesia’s economy needs to be built on the concept of Indonesia Incorporated, or an economy founded on the spirit of familial relations and mutual cooperation. Prabowo said those who are strong should help those who are weak, while the weak can unite through joint ventures such as cooperatives. He said the economic system that suits Indonesia is a middle-way economy that takes the best from socialism and capitalism. “We mean that the right economy for Indonesia is a middle path. An economy that dares to adopt the best from socialism and the best from capitalism. We need the role of the state, we need state protection, we need supervision and we need the state’s bias to ensure justice and equity,” Prabowo said.