He spoke to reporters at his office in Jakarta.
How the two arrangements differ
Under the general arrangement, set by PP No. 2 of 2026, exporters in mining, plantations, forestry and fisheries must deposit export proceeds in special accounts in Indonesia. Non-oil and gas exporters must place 100 percent for at least 12 months. Oil and gas exporters must place at least 30 percent for at least three months.
Placement and rupiah exchange under the general arrangement can take place only at state-owned banks. The special arrangement, set by PP No. 21 of 2026, keeps the 100 percent requirement for entry into Indonesia’s financial system but shortens the placement terms. Oil and gas and non-oil and gas mining companies must place at least 30 percent for at least three months, and they may use five state-owned banks and 11 non-state-owned banks.
Who qualifies
Eligibility depends on where a company comes from. Airlangga said a company qualifies if its home country has a bilateral cooperation or multilateral agreement with Indonesia. The countries listed are the United States, Canada, China including Hong Kong, Australia, South Korea, Japan and the European Union.
A company can also qualify if at least 10 percent of its shares are held by shareholders from those countries. Airlangga said that a bilateral or multilateral agreement, once in place, can be granted.
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Ownership disclosure under review
The government is studying changes to the criteria. One proposal would require disclosure of ultimate beneficial owners to the Ministry of Law. Another would extend coverage to permanent establishments, known as BUT, which Airlangga said typically applies to oil and gas contractors with 100 percent foreign ownership.
Related: Indonesia names 16 banks for export proceeds deposits · Export proceeds conversion into rupiah falls 37.4% in three months
