The Ministry of Construction has issued 37 guidance documents clarifying difficulties and obstacles in areas such as planning, social housing, renovation of old apartment buildings, construction permits, project transfer, etc. for localities (Hanoi, Ho Chi Minh City, Dong Nai, etc.).
To accelerate the implementation of the Program “Investing in the construction of at least 01 million social housing units for low-income people, industrial zone workers”, the Ministry of Construction has sent documents No. 1608/BXD-QLN dated April 24, 2023, No. 1551/BXD-QLN dated April 20, 2023 to the provincial People’s Committees and organized 2 online national conferences (on May 19, 2023 and on February 22, 2024).
Ministries including the Ministry of Finance, Natural Resources and Environment, Planning and Investment, and State Bank of Vietnam have also issued various directives, instructions, and guidance to localities to implement tasks and resolve difficulties and obstacles within their jurisdiction.
For localities that have set up Teams or Steering Committees to address difficulties and obstacles related to real estate projects. A number of real estate projects in the region have been reviewed and obstacles and difficulties have been resolved.
Currently, the Task Force and the Ministry of Construction have actively and proactively coordinated with the Government Office and relevant ministries and agencies to make numerous reports, recommendations, and reports directly at the Task Force meetings chaired by the Prime Minister and Deputy Prime Ministers, proposing the issuance of Resolutions, Official Dispatches, Conclusions… to solve difficulties and obstacles for the real estate market in the coming time.
In terms of tasks and solutions in the coming time, the Task Force states that it will continue to focus on implementing and completing tasks and solutions that have been assigned by the Prime Minister in Decision No. 1435/QD-TTg on reviewing, urging, and guiding the removal of difficulties and obstacles in the implementation of real estate projects for localities and businesses.
Ministries, sectors, and localities will continue to implement Government Resolution No. 33/NQ-CP and directives, official dispatches, and announcements of the Prime Minister and Deputy Prime Ministers on a number of solutions to remove obstacles and promote the safe, healthy, and sustainable development of the real estate market.
The Ministry of Construction will concentrate and urgently complete the draft detailed regulations and guidelines for implementing the Housing Law, the Real Estate Business Law, and submit them to the Government in May 2024.
Strengthen the operation of Task Forces, promptly guide and remove difficulties and obstacles in legal procedures; urge localities to resolve difficulties and obstacles of real estate projects that have been reviewed by the Task Force and have written guidance before June 30, 2024.
Chairing and coordinating with ministries, sectors, localities, and businesses to promote the development of social housing, effectively implement the Program “Investing in the construction of at least one million social housing units for low-income people, industrial zone workers in the period of 2021-2030” and effectively implement the “credit program of VND 120,000 billion”.
Urging, guiding, and supporting localities to review, establish, adjust general and detailed construction planning to serve as a basis for implementing real estate projects in the area; Strengthen inspection and examination of the settlement of administrative procedures related to real estate projects.
The Ministry of Natural Resources and Environment will concentrate and urgently complete the draft detailed regulations and guidelines for implementing the Land Law and submit them to the Government in May 2024.
Urgently guide, instruct, and support officers working directly with localities, especially in major cities such as Hanoi, Ho Chi Minh City, Danang, to resolve difficulties and obstacles related to land allocation, land leasing, land pricing, and annual land use planning;
Strengthen inspection and examination of the settlement of land pricing procedures for real estate projects, promptly detect and resolutely handle cases that delay the settlement process.
Photo: Ha Vy
The Ministry of Planning and Investment will continue to direct and guide localities to remove difficulties and obstacles in procedures for approving and adjusting investment policies, selecting investors for real estate projects, commercial housing projects, social housing projects, workers’ housing projects, etc.
The Ministry of Finance will continue to implement the Prime Minister’s official dispatches, follow closely the developments in the stock market and bond market; propose solutions and take charge of implementing them to ensure the safe, healthy, and sustainable development of the stock market, corporate bond market.
Regularly monitor and evaluate the implementation of issuing and trading corporate bonds related to real estate business in the domestic and international markets to propose the most appropriate solution in actual situations. Study, propose, and implement solutions to restructure debt related to real estate projects of businesses.
The State Bank of Vietnam will continue to implement the Prime Minister’s official dispatches, closely monitor developments in real estate credit to propose solutions to remove difficulties and promote the provision of credit for real estate businesses;
Strengthen the direction, urge, and guide commercial banks to create more favorable conditions for businesses, real estate projects, and home buyers to access credit sources. In particular, research, propose, and implement solutions to restructure credit debts related to real estate projects of enterprises.
Continue to effectively implement the VND 120,000 billion credit program for preferential loans for developing social housing, workers’ houses, and renovation of old apartment buildings. Continue to study and adjust the support mechanism of the program towards capital replenishment.
Localities should establish local task forces to review, study, and remove difficulties and obstacles for real estate projects in the area; Resolving difficulties and obstacles of real estate projects that have been reviewed by the Prime Minister’s Task Force and have written guidance before June 30, 2024.
Actively organize meetings and work directly with each enterprise and project, especially large-scale projects, to listen to the difficulties and obstacles of enterprises and projects to promptly remove obstacles and difficulties within the scope of competence related to land, investment, planning, housing,…
Summarize and send to the Prime Minister’s Task Force and send to the Prime Minister to direct consideration and resolution of obstacles beyond jurisdiction.
Have specific mechanisms and solutions, shorten administrative procedures for project approval, land allocation, land leasing, land clearance, investment and construction procedures… to support and encourage enterprises to invest and construct projects, create supply for the market, and take advantage of preferential sources for social housing development.
Strengthen direction, inspection, and enhance the responsibility of leaders of agencies and units; resolutely prevent situations of fear of mistake and evasion of responsibility affecting the settlement of legal procedures and removal of difficulties for real estate projects in the area.
Enterprises should proactively review the legal procedures specifically stating the difficulties and obstacles of each project to propose authorized agencies to consider and resolve according to their functions and powers.
Restructure and reorganize the project portfolio to suit the implementation capacity of the enterprise and the actual conditions of the market.
Proactively review and restructure special sources of capital, especially credit capital, to focus on implementing and completing the projects to avoid scattered and unfinished investment, ensuring the repayment plan of credit loans and corporate bond debts.
Adjust the segment, price of real estate products to fit the market and ensure liquidity, create capital flow to maintain operations and implement projects.
