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Sri Mulyani suggests remittance fee reduction to five percent JAKARTA - World Bank Managing Director Sri Mulyani Indrawati has suggested a reduction in the remittance fee for members of the Indonesian diaspora from 15 percent to 5 percent.

"The total remittance from the Indonesian diaspora is very large, at US$7.2 billion, and the fee is 15 percent. The remittance fee should be reduced to match the G20 forum, which has already set a fee of five percent," Sri Mulyani said here on Monday, while attending the "Diaspora Power: Its Relevance for Indonesia" discussion session, one of the events of the Second Congress of the Indonesian Diaspora.

She believed the large remittance from the Indonesian diaspora could drive the Indonesian economy and noted that it maximized the diaspora`s potential contribution.

The government needs to follow up with the global Indonesian diaspora through policy efforts to ensure that this potential can be realized to assist the development of the country, she added.

"Policies need to be designed to utilize the resources of the diaspora to improve Indonesia not just as a trend or by treating them as foreigners with no involvement in the country," she said.

Meanwhile, Bank Negara Indonesia (BNI) President Director Gatot Suwondo said his side was a staunch supporter of investment in Indonesia through several channels and that he encouraged the involvement of small and medium enterprises.

"I often meet investors who want to relocate their factories to Indonesia. I advise them to partner with local entrepreneurs," he stated.

The Second Congress of the Indonesian Diaspora, themed "The Power of Harmony in Diversity: Unleashed Worldwide," was also attended by Marvel Technology Group CEO Sehat Sutardjat, Crown Group Australia CEO Iwan Sunito, and RI`s Ambassador to the United States Dino Patti Djalal.

The event is being held at the Jakarta Convention Center on August 18-20 and is being attended by 3,880 members of the Indonesian diaspora from 55 branches of the diaspora network across 26 countries.

The diaspora attendees are expected to discuss and formulate policy recommendations on topics such as education, energy, habitable cities, Indonesian cuisine, business and investment, and Indonesian aerospace. This task force will focus on important issues, adopting a practical and comprehensive approach by partnering with ministries and relevant stakeholders.

In addition to the task force discussion, the congress will also host nine public forums, including one that promotes Indonesian martial arts (pencak silat), youth forums, and a forum on globalizing Indonesian culture.


Related blog entries (category 'Economy') Related blog entries (category 'Economy'):
12 August 2013 · Government to boost economic growth to six percent
26 July 2013 · Lebaran remittances estimated to reach Rp15 trillion
02 July 2013 · Indoensia's inflation may reach 9 percent
16 May 2013 · President calls on people to save on fuels
07 May 2013 · Riau students demand gas block nationalization
30 April 2013 · Bankers optimistic about economic growth

Related blog entries (category 'Economy') Tags: remittance, fee, diaspora, decrease, economic, stimulance


Posted in Economy @ 19 August 2013 18:51 CET by Blog Bot · 'Blog' RSS feed · permalink






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