Proposal for Government to Regulate Housing Prices

Chairman of the Law Commission Hoang Thanh Tung has proposed that the Government proactively implement effective measures to regulate housing prices in line with the affordability of individuals with average or low incomes.

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The Chairman of the National Assembly, Vương Đình Huệ, presided over the second nationwide conference to implement the laws and resolutions of the 6th session and the 5th extraordinary session of the 15th National Assembly – Photo: Lâm Hiển

On the morning of March 7, at the National Assembly House, the Standing Committee of the National Assembly (NA) in coordination with the Government, the Central Committee of the Vietnam Fatherland Front, and relevant agencies organized the second nationwide conference to implement the laws and resolutions of the 6th session and the 5th extraordinary session of the 15th National Assembly.

The conference was connected online to 63 locations throughout the country. The Vice Chairman of the Politburo, Chairman of the National Assembly, Vương Đình Huệ, presided over the conference.

The conference heard two important reports, including: the report by the Standing Committee of the National Assembly to thoroughly understand new points, core contents, and main issues in the implementation of laws and resolutions passed by the National Assembly in the 6th session and the 5th extraordinary session of the 15th National Assembly; the report by the Government on the organization and implementation of the laws and resolutions passed by the National Assembly. The conference also listened to some rapporteur reports.

Delegates attending the conference at the National Assembly House – Photo: Lâm Hiển

The report on the key contents, requirements, and main tasks was delivered by the Vice Chairman of the National Assembly, Nguyễn Khắc Định, who said that in the 6th session and the 5th extraordinary session of the 15th National Assembly, 9 laws and 10 resolutions were approved, stipulating very important contents.

The Standing Committee of the National Assembly proposed that the Government and the agencies under the Government promptly issue plans to implement the laws and resolutions, arrange resources, and prepare conditions to ensure the early implementation of policies and regulations in the laws and resolutions of the National Assembly, especially new and specific policies and regulations that take effect earlier than the general effective date of the laws.

Vice Chairman of the National Assembly, Nguyễn Khắc Định, speaks – Photo: Lâm Hiển

The Government is urgently developing and promulgating, according to its authority, detailed regulations and guidelines for the nearly 400 tasks assigned in the laws and resolutions passed by the National Assembly. Focus on promoting administrative procedure reform, perfect the entire state management apparatus, implement decentralization and delegation of authority as prescribed; prepare full human resources and necessary conditions.

Together with that, strengthen the organization of thorough propaganda, dissemination, introduction of policies, and contents of laws, resolutions, and detailed regulations and guidelines for implementation…

Preparing to present the North-South high-speed railway project

On behalf of the Government, Deputy Prime Minister Trần Lưu Quang reported on the organization and implementation of the laws and resolutions. He said that the Prime Minister of the Government has decided to assign the drafting agency to issue 56 documents (including 29 decrees, 5 decisions, 22 circulars) to specify the detailed regulations of 10 laws and resolutions just approved by the National Assembly.

Deputy Prime Minister Trần Lưu Quang speaks – Photo: Lâm Hiển

Sharing some difficulties and obstacles in the process of implementing laws and resolutions, Deputy Prime Minister Trần Lưu Quang said that the content of the assignment for detailed regulation is quite large, and the time for promulgation is urgent, leading to difficulties in ensuring the simultaneous effect of detailed regulation documents with laws and resolutions issued by the National Assembly.

In addition, many difficult, complex issues cannot be regulated in laws, and must be delegated to the Government, the Prime Minister to specify regulations, making it difficult to organize drafting and promulgation.

Regarding the tasks assigned in the resolutions of the National Assembly at the 6th session, Deputy Prime Minister Trần Lưu Quang said that the Government has developed and submitted to the National Assembly for approval Resolution No. 111 in 2024 on some mechanisms, special policies for implementing national target programs. Along with that, proposing the development of the Value Added Tax Law (amended); Special Consumption Tax Law (amended); Corporate Income Tax Law (amended) for submission to the National Assembly, the Standing Committee of the National Assembly for consideration and supplementation into the law and ordinances building program in 2024, 2025.

The Government is continuing to implement tasks on administrative procedure reform, and remove difficulties and obstacles for the people and businesses. Specifically, the Government has issued Resolution No. 01 and Resolution No. 02, setting out 17 specific targets for administrative procedure reform by ministries, branches, and localities to achieve in 2024.

The Government is also considering projects such as the Bắc-Nam high-speed railway project, the National Maritime Space Planning for the 2021-2030 period, the vision to 2050; National Land Use Planning for the 2021-2030 period, the vision to 2050; 5-year Land Use Plan from 2021-2025. After consulting the competent authorities, the Government will submit them to the National Assembly for consideration and decision.

Regulating the real estate market

In the discussion at the conference, the Chairman of the Legal Committee of the National Assembly, Hoàng Thanh Tùng, proposed that the Government proactively adopt effective measures to regulate housing prices, such as strong development of social housing suitable for the affordability of middle and low-income earners.

Along with that, speed up the approval process for housing development projects to increase supply and be ready to intervene when the market shows signs of becoming “hot” or “speculative”; pay attention to build a database of real estate information, enhance management and regulation of the real estate market, towards transparency and professionalism.

Urgently study and submit to the competent authorities for consideration and approval a pilot project allowing the implementation of commercial housing projects through agreements on land use rights or other land use rights (not for housing). According to Tùng, the pilot should be implemented in some large provinces, cities… to promptly remove difficulties and obstacles for real estate projects, free land resources, and promote socio-economic development.

Actively promote the implementation of new policies and regulations on social housing to attract resources for the development of this segment, contributing to solving the shortage of affordable housing for the people.