Upcoming Revision of the Foreign Export Proceeds from Natural Resources

GOI is planning to implement the revised DHE SDA Framework under the Government Regulation No. 8 of 2025 (GR 8/2025) by January 1, 2026, despite the previously failed implementation. Coordinating Economic Affairs Minister Airlangga Hartarto acknowledged that while exporters have begun placing funds domestically, the policy has not boosted foreign exchange (FX) reserves. FX reserves decline to USD$148.70 billion in September 2025, down from $150.70 billion in August, due to debts and stabilization efforts. The government had reassessed whether GR 8/2025 will be effective to retain capital into Indonesia’s financial system and increase  liquidity. 

Nevertheless, GOI has decided to implement the Regulation beginning 2026. Non-oil and gas companies will be required to secure 100% of their export proceedings in foreign currency accounts at state-owned banks for 12 months. GR 8/2025 also caps foreign exchange conversion into rupiah at 50%, expands foreign currency use for working capital and procurement needs, removes LPEI (Eximbank) as a placement channel, and introduce foreign currency denominated government securities (SBN values) as a new instrument that cannot be withdrawn before the mandatory period ends.

USABC continues to advocate for more level playing field between Himbara (Association of State-Owned Banks) and non-Himbara banks as well as to reduce trade frictions for oil and gas exporters. In response, USABC participated in the joint advocacy with other foreign chambers and requests a meeting with the Minister of Finance and the Secretary of the Coordinating Ministry for Economic Affairs (CMEA), to discuss potential solutions ahead of the effective date.