Government Introduces Land Bank Agency

As a follow-up to the promulgation of Law No. 11 of 2020 on Job Creation (“ Job-Creation Law ”), [1] the Indonesian Government has issued Regulation of the Government No. 64 of 2021 (“ Regulation 64/2021 ”) as the legal basis for the establishment of the Land Bank Agency (“ Land Bank ”), a special legal entity that is authorized to manage land and to ensure the availability of land for the following purposes: 1) Public interests; 2) Social interests; 3) National development interests; 4) Economic equality; 5) Land consolidation; and 6) Agrarian reform. [2]