Solutions from departments and ministries
For the departments and ministries, first of all, the focus is on building the Decree guiding the Housing Law No. 27/2023/QH15 to overcome obstacles in mechanisms, policies, laws, and effectively implement and promote the development of social housing. At the same time, continue to coordinate with relevant departments and ministries to provide feedback on the construction of Decrees guiding the Real Estate Business Law, Land Law (amendment), Credit Institutions Law, and amendments to tax laws to synchronize with the amended Housing Law on social housing mechanisms and policies.
Currently, the Ministry of Construction, the Ministry of Natural Resources and Environment, and the Ministry of Finance are studying draft Decrees guiding the Housing Law and the Real Estate Business Law, Land Law (amendment), and Credit Institutions Law (amendment) to propose to the Government for issuance in May 2024, as the basis for the Government to consider and submit to the National Assembly for early enforcement of the mentioned laws, expected from July 1, 2024.
The State Bank of Vietnam (SBV) is requested to continue researching and considering reducing the interest rate for loans from the VND 120 trillion support fund in accordance with practical conditions in each stage and solving difficulties and obstacles in effectively implementing the VND 120 trillion support fund.
In addition to promoting the implementation of the VND 120 trillion capital through commercial banks, the Ministry of Planning and Investment is requested to coordinate with the Social Policy Bank and the Ministry of Construction to allocate sufficient funds from the state budget from public investment to the Social Policy Bank for individual customers to borrow to buy or rent social housing according to the regulations on development and management of social housing in the 2024-2025 period and the subsequent period, specifically according to the proposal of the Social Policy Bank in the 2024-2025 period with a demand of VND 12 trillion, of which the state budget provides 50%, equivalent to VND 6 trillion, and VND 3 trillion each year.
As for the Ministry of Public Security and the Ministry of National Defense, it is aimed to implement 5,000 social housing units in 2024 for each ministry; determining housing needs for the subjects managed by the ministries; closely coordinating with localities to prepare land funds to ensure the supply meets the demand, while preparing other resources such as finance, human resources, etc. to effectively implement housing projects for armed forces after the 2023 Housing Law comes into effect.
The Vietnam General Confederation of Labor also sets a target of implementing 2,000 social housing units in 2024.
The Ministry of Construction is responsible for coordinating with the departments and ministries to urge localities to focus on achieving the target 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 the local level
For localities, first and foremost, it is urgent to establish, amend, and supplement programs and plans for housing development at the local level, in which, clarify the targets for social housing for low-income people, workers in industrial zones, and armed forces. Develop specific implementation plans for the assigned tasks of the Prime Minister’s Project.
Based on the objectives of the Project and the targets in the appendix on social housing to be completed in 2024, localities should urgently develop specific plans to implement the investment in social housing projects to achieve the set targets.
For projects that have started construction, localities are requested to regularly monitor to complete the projects in 2024; guide and create conditions for projects to be inspected and put into use according to the regulations.
For projects that have been approved, it is necessary to urgently carry out procedures for selecting investors, transferring land, issuing land use certificates, preparing basic designs, technical designs, construction permits, etc. to commence construction and construction in 2024.
For social housing land funds that have not been approved for investment policy, it is necessary to promptly establish plans; appraise feasibility reports; update projects into the local program and plan… to complete the procedures for approving investment policy.
The Ministry of Construction is responsible for coordinating with departments and ministries to urge localities to focus on achieving the target of completing 130,000 social housing units in 2024 as directed by the Government in Resolution No. 01/NQ-CP dated January 5, 2024.
In terms of preferential capital for social housing development, provincial People’s Committees are requested to continue reviewing and examining legal procedures, establishing a list of social housing construction projects, houses for workers, renovation of qualified apartment buildings for the VND 120 trillion loan capital to be publicly announced on the electronic portal of provincial People’s Committees for banks to apply for loans under the program and send documents to the State Bank of Vietnam and the Ministry of Construction for monitoring and aggregation.
