Kadin Pledges 100% Export Results to be Put into Domestic Income  

TEMPO.CO, Jakarta - Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Rosan Roeslani said the entrepreneurs agreed to bring 100 percent of foreign exchange exports to domestic income. Currently, it is only around 80 percent.

“We want everything to be stable, so we agree that the money we get from the export results should be put into domestic income 100 percent,” Rosan said at The Westin, South Jakarta, Wednesday, August 15.

Kadin has held a meeting with entrepreneurs from various fields, ministers of the economy, the Financial Services Authority, and Bank Indonesia to discuss the rupiah exchange rate.

Rosan said the entrepreneurs would try to increase the percentage of foreign exchange exports, which converted to rupiah. Because currently there is only 15 percent aka US$20 billion of funds that have been converted to rupiah.

“The target is that we can increase up to 40-50 percent of the awareness of the business world to convert the foreign exchange proceeds from exports to rupiah,” Rosan said.

Thus, he is targeting US$70-80 billion of foreign exchange generated from exports to be converted to rupiah.

Rosan said Indonesia currently still adheres to the free foreign exchange law. “So the business world must cooperate,” he said.

Based on the Bank Indonesia Jakarta Interbank Spot Dollar Rate, the rupiah exchange rate on Tuesday remained at the level of Rp14,621 per US dollar.

Rosan said, currently the Indonesian business world is still very dependent on imported products. “So we don't like surprises, we want stability,” said Rosan.

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