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Ministry admits no progress yet despite big investment pledges for housing program
Fahri pointed to several hurdles, including land issues and lack of demand, hampering rollout of the funding commitments made by foreign entities that the government had secured over the past months, as quoted from Bisnis.com.
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A subsidized-housing complex is pictured in Bogor, West Java, on Jan. 6, 2020. (Antara/Yulius Satria Wijaya)
No progress yet despite big investment pledges for housing program
The government has yet to make any significant progress in realizing large investments pledged for the flagship 3 million housing program, Public Housing and Settlements Deputy Minister Fahri Hamzah said on Sunday.
Fahri pointed to several hurdles, including land issues and lack of demand, hampering rollout of the funding commitments made by foreign entities that the government had secured over the past months, as quoted from Bisnis.com.
He has reported the potential funding to relevant ministries, but concrete actions remain unforthcoming, as it requires a “technical follow up”.
“The [investment] commitment of US$5 billion [...] or around Rp 75 trillion is ready,” Fahri said.
The deputy minister further highlighted a persistent challenge in implementing housing investment, one of which was the licensing system that he deemed “too dispersed” across multiple agencies. He suggested simplifying licensing to ease investment access in the country.
“The licensing process is too dispersed. There must be a centralized licensing, which has been mandated by the [housing] task force,” he said.
