JAKARTA (TheInsiderStories) – Indonesia’ international investment recorded worth of US$326.2 billion or 29.8 percent of gross domestic products (GDP) in the third quarter (3Q) of 2019, said the central bank (BI) on Friday (12/27). It declined from last quarter of $329.6 billion or 30.9 percent of GDP
The declining of foreign financial obligation has been influenced the Rupiah and the Jakarta Composite Index. In the 3Q of 2019, foreign financial obligation reached $691.4 billion or decreased 0.3 percent a quarter earlier.
The further declining was paused after the foreign capital entered to equities, bonds, and government bonds. In addition, it was also caused by the increasing of foreign financial assets.
In the 3Q of 2019, the foreign financial assets rose by 0.4 percent in quarter to quarter (QoQ) basis to $365.3 billion. The increased was influenced by the resident deposits in overseas.
However, the improvement was being hold caused the US dollar strengthened and the declining of yield of share in the destination countries. BI said still be alert to the potential risks by implementing mix policy, fiscal policy and structural reform.
As one of the policy to increase the international investment, the Bank with the directorate general of custom and excises integrated the export and import document into one system. The policy will be implemented in Jan 1, 2020.
In the first phase, the system will integrate the document from custom and excises office and cash flow from the central bank. With the integration, the government and BI will reconcile the export and import data comprehensively so be able to support the guided of current account deficit.
According to senior deputy governor of BI, Destry Damayanti, the system is also important to form policy in foreign exchange revenues and payments accurately and in advance. Its reported, the system is estimated to reduce reports and enhance the report efficiency.
The director general of custom and excises, Heru Pambudi, said the system gives the complete information about the real export and import values. Beside, the data will be also used to manage the businessmen obedience profile. The obedient businessmen will get higher status than disobedient businessmen.
Moreover, the obedient exporters will be prioritized to get incentive in the form of ease of import and be authorized economic operator, as well as considered in tax refund services. While, for the obedient importers will be get incentive such as be priority route importers, main partner and authorized economic operator.
In contrary, the disobedient businessmen will be imposed administration sanction and lateness or blocking of services.
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