Government Regulation No. 21 of 2026: Greater Flexibility for DHE SDA Placement Under Bilateral Trade Arrangements

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On 6 May 2026, President Prabowo Subianto enacted Government Regulation No. 21 of 2026 (“GR 21/2026“), introducing the third amendment to Government Regulation No. 36 of 2023 on Export Proceeds from Natural Resources (Devisa Hasil Ekspor Sumber Daya Alam or DHE SDA) (“GR 36/2023”). The regulation came into effect on 1 June 2026 and further amends GR 36/2023, following the earlier amendments under GR 8/2025 and GR 2/2026.

The key change under GR 21/2026 is the introduction of more flexible DHE SDA placement requirements for mining sector exporters whose transactions are conducted under bilateral trade agreements, understandings, or other trade arrangements between Indonesia and the buyer’s country.

Background

Under the existing DHE SDA regime, non-oil-and-gas exporters are generally required to place 100% (one hundred percent) of their export proceeds in a designated onshore DHE SDA account for at least twelve (12) months at a State-Owned bank (Himbara). Meanwhile, oil and gas exporters are only required to place at least 30% of their DHE SDA for a minimum period of three (3) months.

The amendment is intended to ensure that Indonesia’s DHE SDA policy remains responsive to developments in global trade and geopolitics while providing equal treatment to Indonesia’s bilateral trading partners. It is also expected to encourage broader bilateral trade and economic cooperation.

Key Changes Under Article 18A GR 21/2026

For mining sector exporters carrying out exports under a qualifying bilateral trade agreement, understanding, or other trade arrangement, Article 18A GR 21/2026 introduces three (3) following key relaxations:

  1. Reduced placement requirement

Exporters in mining sectors are now only required to place at least 30% of their DHE SDA for a minimum period of three (3) months, instead of the prior general requirement to place 100% for twelve (12) months.

  • Broader banking options

DHE SDA may be placed in a Special DHE SDA Account maintained at any Bank Conducting Business Activities in Foreign Currency (Forex Bank), rather than only at Himbara banks.

  • More flexible Rupiah conversion

Exporters may also convert DHE SDA into Rupiah through an eligible Forex Bank designated by Bank Indonesia.

Transitional Provisions

The applicable regime depends on the date of the Export Customs Declaration (Pemberitahuan Pabean Ekspor or PPE):

  • PPE issued on or after 1 June 2026 will be subject to GR 21/2026, including the Article 18A GR 21/2026 relaxation where the relevant requirements are met. 
  • PPE issued before 1 June 2026 are deemed to have fulfilled their DHE SDA obligations, including where the export proceeds are received after 1 June 2026 or where compliance supervision by Bank Indonesia and/or the Financial Services Authority (OJK) remains ongoing. This transitional provision is intended to provide legal certainty by avoiding the retroactive application of the new requirements, minimise potential disruption for exporters and banks in adjusting to the new regime, and accommodate DHE SDA that may already have been converted into Rupiah.

Which Countries Qualify?

GR 21/2026 does not identify any specific partner countries. Instead, Article 18A GR 21/2026 broadly applies to exports conducted under the implementation of a bilateral trade agreement, understanding, or other trade arrangement between Indonesia and another country. However, according to recent public statements, Coordinating Minister for Economic Affairs Airlangga Hartanto indicated that China, United States, Australia, and Canada are currently regarded as qualifying partner countries, citing existing trade arrangements and the significance of their investment in Indonesia.

Practical Implications

  • Exporters whose PPEs were issued before 1 June 2026 and are under BI and/or OJK supervision for compliance with their obligations should ensure that their compliance status is properly documented so they can rely on the transitional provisions. 
  • The amendment does not remove the obligation to repatriate DHE SDA into Indonesia’s financial system, it only provides greater flexibility regarding the placement percentage, placement period, and the choice of eligible bank for mining exporters whose buyers are from countries that have a bilateral trade agreement, understanding, or other trade arrangement with Indonesia.

We will continue to monitor the release of the list of countries eligible for the relaxation, as well as Bank Indonesia’s designation of eligible Forex Banks, and will provide further updates as more guidance becomes available.

This client alert is provided for general informational purposes only and does not constitute legal advice. For guidance on how GR 21/2026 applies to your specific transactions, please contact our team at Turnip Saragih Partners.