Solutions for ministries and sectors
For ministries and sectors, firstly, focus on building Decrees guiding the Housing Law No. 27/2023/QH15 to remove obstacles in mechanisms, policies, laws, promote effective implementation, and facilitate the development of housing. At the same time, continue to coordinate with relevant ministries and sectors to provide input in building Decrees guiding the Real Estate Business Law, Land Law (amended), Credit Organizations Law, tax law amendments… to synchronize with the amended Housing Law on housing policy mechanisms.
Currently, the Ministry of Construction, Ministry of Natural Resources and Environment, and Ministry of Finance are studying draft Decrees guiding the Housing Law and Real Estate Business Law, Land Law (amended), Credit Organizations Law (amended) to submit to the Government for issuance in May 2024 as a basis for the Government to consider and submit to the National Assembly to allow the aforementioned laws to take effect early, estimated on July 1, 2024.
Request the State Bank of Vietnam (SBV) to continue researching and considering lowering the interest rate for loans from the 120 trillion VND support capital source suitable for practical conditions in each stage; remove difficulties and effectively implement the 120 trillion VND support capital.
In addition to promoting the implementation of the 120 trillion VND capital source through commercial banks, request the Ministry of Planning and Investment to coordinate with the Social Policy Bank, Ministry of Construction to allocate sufficient capital from the State budget from public investment to the Social Policy Bank for individual customers to borrow for purchasing, renting social housing according to regulations on social housing development and management in the 2024-2025 period and subsequent periods, specifically according to the proposal of the Social Policy Bank for the 2024-2025 period with a demand of 12 trillion VND, of which the State budget allocates 50%, equivalent to 6 trillion VND, and annual allocation of 3 trillion VND.
For the Ministry of Public Security and the Ministry of National Defense, strive to implement 5,000 social housing units each in 2024; Determine the housing needs of the managed subjects; Coordinate closely with localities to prepare land funds to ensure meeting the requirements, and at the same time prepare other resources such as finance, human resources… to effectively implement housing projects for armed forces personnel after the Housing Law 2023 takes effect.
The Vietnam General Confederation of Labor also aims to implement 2,000 social housing units in 2024.
The Ministry of Construction takes the lead in coordinating with ministries and sectors to urge localities to focus on accomplishing the goal of completing 130,000 social housing units in 2024 as directed by the Government in Resolution No. 01/NQ-CP dated January 5, 2024.
 Minister of Construction Nguyen Thanh Nghi speaking at the Conference – Photo VGP/Nhat Bac
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Solutions at localities
For localities, first of all, urgently establish, amend, and supplement their programs and plans for housing development, specifying the targets for social housing for low-income people, industrial zone workers, armed forces personnel. Prepare and implement the Program according to the tasks assigned by the Prime Minister.
Based on the targets of the Program and the indicators in the appendix on social housing to be completed in 2024, urgently develop specific plans for implementing investment projects for social housing to ensure the set targets.
For projects that have started, request localities to regularly urge completion of the projects in 2024; instruct and facilitate the projects to be tested and put into use according to the provisions of the law.
For projects that have been approved for investment proposals, it is necessary to urgently carry out procedures for selecting investors, land allocation, granting land use rights certificates, establishment and appraisal of basic and technical designs, construction permits,… to start construction in 2024.
For social housing land funds that have not been approved for investment proposals, it is necessary to urgently develop plans; appraise the feasibility report; update the project into the local program and plan… to complete the procedures for approving investment proposals.
The Ministry of Construction takes the lead in coordinating with ministries and sectors to urge localities to focus on accomplishing the goal of completing 130,000 social housing units in 2024 as directed by the Government in Resolution No. 01/NQ-CP dated January 5, 2024.
Regarding preferential funding for social housing development, propose provincial People’s Committees to continue reviewing, checking legal procedures, establishing a list of social housing construction projects, housing for workers, renovation and construction of qualified condominiums that can borrow from the 120 trillion VND capital source for public announcement on the provincial People’s Committee’s electronic information portal, so that banks can apply for loans according to the program and send documents to the State Bank of Vietnam and the Ministry of Construction for monitoring and summarizing.
