At the National Conference on Social Housing on the morning of February 22, leaders of the Ministry of Construction said that Resolution No. 01/NQ-CP on the tasks and key solutions for implementing the Plan on socio-economic development and state budget estimates for 2024, the Prime Minister has assigned efforts in 2024 to complete about 130,000 social housing units nationwide.
In order to achieve the set target, the Ministry of Construction, along with the relevant ministries, sectors, and localities, will coordinate and urgently implement the tasks assigned by the Prime Minister in the Project. Specifically, focus on building guiding decrees for the Housing Law, the Real Estate Business Law, the Land Law, the Credit Institutions Law, and amending regulations on Taxes to ensure legal consistency.
In addition, relevant ministries and sectors will focus on implementing the tasks assigned in the Project to remove difficulties and obstacles in investment procedures, land use fee exemption, planning, land fund allocation, and development of accommodation for workers.
At the same time, the relevant ministries and sectors will continue to implement Resolution No. 33/NQ-CP dated March 11, 2023 of the Government; coordinate with the Ministry of Construction to continue working with some key localities in terms of social housing to remove difficulties and urge localities to achieve the set target.
According to the Ministry of Construction, during the implementation process, the State Bank of Vietnam has reduced the interest rate twice for the VND 120 trillion (~USD 5.2 billion) social housing loan. However, the Ministry of Construction suggested that the State Bank of Vietnam continue to study, consider reducing the interest rate for the supporting capital of VND 120 trillion (~USD 5.2 billion) to be suitable for practical conditions in each stage.
The Ministry of Public Security and the Ministry of National Defense will closely coordinate with localities to prepare resources on land, finance, and investment procedures to effectively implement housing projects for the armed forces after the 2023 Housing Law is in effect. The goal is for each ministry to complete 5,000 social housing units in 2024.
The Vietnam General Confederation of Labor will coordinate with localities to accelerate the construction of trade union projects and prepare trade union financial resources for investment in social housing for workers and laborers eligible for social housing rental policies. The goal is to complete 2,000 units in 2024.
Minister of Construction Nguyen Thanh Nghi speaking at the National Conference on Social Housing.
At the same time, the Ministry of Construction will lead and coordinate with the relevant ministries and sectors to urge localities to focus on achieving the target of completing 130,000 social housing units in 2024 as instructed in Resolution No. 01/NQ-CP dated January 05, 2024 by the Government;
Regarding localities, the Ministry of Construction suggests them to promptly establish, amend, and supplement programs and plans for housing development. Specifically, clarify the targets for social housing for low-income people, industrial zone workers, and the armed forces.
In terms of planning and land allocation for the development of social housing, worker accommodation, localities need to review and supplement urban planning, industrial zone planning, ensure sufficient land funds for social housing development, including housing for the armed forces. At the same time, plan and allocate independent social housing projects in suitable, convenient locations with appropriate scale and complete technical and social infrastructure. Review and strictly implement regulations on allocating 20% of invested technical infrastructure land fund in commercial housing projects, urban areas for investment in social housing according to housing laws.
Regarding investment in social housing projects, for projects that have started construction, localities are requested to regularly urge the completion of projects in 2024; guide and facilitate projects to be tested and put into use according to regulations;
In addition, urge investors of commercial housing projects and urban areas to invest in social housing on the 20% land fund of these projects according to the approved progress; in case the investor does not implement, the 20% land fund will be recovered to select other investors for implementation;
Provincial People’s Committees continue to review, inspect legal procedures, establish a list of social housing construction projects, housing for workers, renovation and reconstruction of qualified apartment buildings that are eligible for the VND 120 trillion (~USD 5.2 billion) capital loan to be publicly announced on the electronic information portal of provincial People’s Committees.
For businesses and investors of social housing projects, they need to establish schedules, prepare resources, finance, and apply new technologies to shorten construction time;
For selected investors of social housing projects, they are requested to expedite the completion of legal procedures (land handover procedures; compilation of basic design, technical design, fire prevention and fighting design, construction permits; selection of consulting and construction contractors) to start construction according to approved plans;
After starting the project, the investor of the social housing project is responsible for providing and publicly announcing information related to the project for people to know, register, and monitor; promptly implement construction, ensure the progress, and complete the projects on the 20% land fund for social housing; Actively review subjects, conditions, and register with provincial People’s Committees to be publicly announced in the list of preferential loan investment from the VND 120 trillion (~USD 5.2 billion) support package.
