Border of Indonesia and Papua New Guinea (Jubi)

Entrepreneurs Find It Hard to Open Foreign Exchange Business in RI-PNG Border

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Border of Indonesia and Papua New Guinea (Jubi)
Border of Indonesia and Papua New Guinea (Jubi)

Jayapura, Jubi- Bank Indonesia said currency problems in Skow, which borders Papua New Guinea, shows that there is a need for more foreign exchange traders there.

“There are only three foreign exchange business listed, so we will continue to encourage these entrepreneurs to establish at the border. For currency exchange of Kina dominate up to 98 percent,” chief deputy of Representative of the Economy and Finance BI in Papua Eko Waluyo P explained to the Jubi on Monday (8/6/2015).

He also mentioned that the security issues become a problem at the border.

Communication Manager BI Representative of Papua, Yon Widiyono also said there had been a licensed foreign exchange trader that is interested in setting up their businesses in the border area.
“The entrepreneur is still thinking about the security of the money that is taken from the city to the border,” Widiyono said.

Bank Indonesia will intensify cooperation with relevant parties including the police and Immigration to realize foreign exchange trading on the RI-PNG border.
“We not only facilitate the license but encourages new or old traders to open there,” Widiyono added. (Sindung Sukoco/ Tina)

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