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Saudi Arabia to develop low-cost housing in Indonesia: BKPM
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Then energy and natural resources minister Sudirman Said (first left), State-Owned Enterprises Minister Rini Soemarno (second left), Pertamina president director Dwi Soetjipto (third left), Pertamina processing director Rachmad Hardadi (third right), Saudi Aramco international operations executive director Said al-Hadrami (second right), and Saudi Arabia Ambassador to Indonesia Mustafa Ibrahim Mubarak pose during a ceremony on the signing of a memorandum of understanding between Pertamina and Saudi Aramco on May 23. (thejakartapost.com/Anton Hermansyah)
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audi Arabia has expressed an interest in investing in affordable housing for low-income people in Indonesia, Investment Coordination Board (BKPM) head Thomas Lembong has said.
The interest was mentioned by Saudi Arabian Prince Mohammad bin Salman bin Abdul Aziz Al-Saud during a meeting with President Joko :Jokowi" Widodo on the sidelines of the G20 Summit at the Dahua Boutique Hotel in Hangzhou, China, earlier this week.
"They conveyed that they wanted to invest in low-cost housing [...] I think maybe in the next 12 to 18 months there will be a concrete follow-up," Thomas said at the State Palace in Jakarta on Friday, adding that aside from low-cost housing development, the country also intended to invest in tourism in Indonesia.
Earlier, Foreign Minister Retno Marsudi said Saudi Arabia intended to invest on a big scale, or what Prince Mohammad — the second deputy prime minister and Saudi Arabian defense minister — called mega investments.
It would encompass a number of sectors that involve cooperation between the two countries, namely oil refinery, low-cost housing and tourism, Retno further said. The two countries will follow up on the economic cooperation during the Saudi Arabian king's official visit to Indonesia next month.
The government recently issued the 13th economic policy package to further accelerate the low-cost housing program, aiming to reduce licensing costs for particular projects by 70 percent. (ags)
