JAKARTA - The Ministry of Agrarian Affairs and Spatial Planning is planning to establish a land bank as part of the Omnibus Law to keep track of government-owned land reserves.
According to Agrarian Minister Sofyan Djalil, the agency, which will be supervised by his ministry, will organise and manage government-owned land reserves. The agency’s functions will include land management for social, public, and government interests as well as to facilitate investment.
“It is very difficult to acquire land in certain regions. Thus, our plan to establish a land bank is included in the Omnibus Law. When land is owned by the state, the government can provide it as an incentive,” said Mr Djalil at the Coordinating Ministry for Economic Affairs as quoted by Bisnis.com, Thursday (12/12).
Furthermore, Mr Djalil explained that the land bank establishment scheme will be included in the Land Bill. However, he did not specify the timeframe of the land bank establishment.
“We are establishing a land bank to create economic equality,” said Mr Djalil. (MS)