REPUBLIKA.CO.ID, JAKARTA -- There was huge amount of Indonesian funds deposited abroad. An estimate of more than Rp 1,800 trillion were parked in several bank overseas.

To woo the money owner to transfer the fund in to local market, government tried to offer incentives aiming to boost rupiah value.

Deputy Finance Minister Bambang Brodjonegoro said the funds belong to Indonesian citizens parked overseas exceeded the State Budget in 2013 to Rp 1,800 trillion. It was a challenge for the government and Bank Indonesia (BI) to attract the owner to transfer the money to Indonesia.

"It's important to seek capital inflow from there," Brodjonegoro said at a seminar organized by Thomson Reuters entitled 'Indonesia 2014: Quo Vadis?', Jakarta, Thursday (5/12).

He said the government should strive to make the money flown to Indonesia, but not in a pushy way.

One way, he said, was by providing incentives. Bambang said the government would try to create incentives and instruments so that the money would come to Indonesia.

"A promising return to endure the money at home in Indonesia," he said.

Bambang said the government was seriously brewing the plan hoping that next year the policy instruments could be issued.

But, the government could not do it alone. Bambang said they collaborate with Bank Indonesia (BI) and Financial Services Authority (FSA).

"The government deals with tax rules. BI and FSA [deal with its] instrument," he said.

Ed: Nidia Zuraya

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