JAKARTA: Indonesia on Friday (June 5) reaffirmed business certainty in the implementation of its one-door export policy for strategic commodities, saying existing export contracts will remain valid as long as they comply with regulations, reported Xinhua.
Danantara, the second sovereign wealth fund of Indonesia, said in a press release that state-owned holding PT Danantara Sumberdaya Indonesia (DSI) would carry out its mandate to strengthen export governance in a measured, professional and accountable manner while ensuring smooth trade activities.
"Signed contracts can continue to be carried out as long as there is no under-invoicing," the agency said in a statement, adding that maintaining the confidence of international trading partners and investors remains a priority.
During the transition period that began on June 1, DSI is focusing on strengthening reporting and monitoring systems through digitalisation, including the development of a platform to analyze export transaction data and detect potential under-invoicing.
The agency said its role after the transition will focus on facilitating and supervising exports without disrupting commercial relations between producers and buyers, while ensuring export transactions reflect their actual value. - Bernama-Xinhua
