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BKPM'S RESPONSE TO INVESTORS CALM OVER WEAK RUPIAH

Posted on August 22, 2015 on 09:47:03 WIB


Investment Coordinating Board (BKPM) chairman Franky Sibarani has said the weakening of the rupiah, which has recently been above Rp 13,000 per US dollar, poses no significant problems for investors.

"At meetings, we ask [investors] what they think about the rupiah exchange rate, which stands at around Rp 13,000 per dollar. They always say: 'It's not a problem'," he said as quoted by Antara in Jakarta on Wednesday.

The weakening of the rupiah, Franky said, had in fact benefitted export-oriented sectors. In his visits to two investment projects in Central Java on June 22, the BKPM head said he had witnessed first-hand that the rupiah's performance was not affecting two sectors, namely automotive components and fisheries.

All produce of the fisheries sector, which solely used Indonesian's natural resources, he said, was for export markets. Meanwhile, 90 percent of raw materials for investment projects in the automotive component sector was produced locally and around 76 percent of its products were exported.

"I haven't yet received any complaints from investors in projects that depend on imported raw materials. Thus, again, there is no problem with the [rupiah depreciation]," said Franky.

He further said investors still considered Indonesia "quite promising" in terms of its business management and investment climate.

As of June 1, BKPM had recorded investment potential amounting to almost US$150 billion or Rp 2 quadrillion, Franky said. "That includes a number of categories. Some would-be investors are serious and some of them are prospective, while others have just shown interest," said Franky.

Source: The Jakarta Post dated 24 June 2015


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