Mr. Nguyen Xuan Quang, Chairman of Nam Long Group
Mr. Nguyen Xuan Quang, Chairman of Nam Long Group, shared: “Over the past 15 years, we have supplied the market with over 10,000 products, including more than 5,000 social housing units. From our practical experience in Ho Chi Minh City and Can Tho, Nam Long also acknowledges the challenges and obstacles in the process of price appraisal for social housing projects.”
Mr. Quang added that the current social housing program relies on government subsidies and previous incentives. Nam Long proposes to further socialize the program by engaging capital from enterprises and society.
“Since we are investing with social capital, we humbly propose a mechanism to motivate and encourage the participation of social capital,” said the Chairman of Nam Long.
To make this happen, Nam Long suggests several solutions: Firstly, there should be only one price appraisal and approval process. Secondly, regarding land funds, the government should support enterprises in site clearance, and the cost will be covered by the enterprises themselves.
If an enterprise already owns the land, the appraisal should be close to the market price. In cases where there is already a land price framework that reflects the market price, the new land price framework should be applied. This will shorten the time to bring the price closer to the practical market price.
Thirdly, standard fee rates should be introduced, aligning with the market reality. Currently, all other fees are relatively standard, except for the sales fee, which is only 2%. In the current market, this fee ranges from 5% to 8% or even higher.
“We should hire consultants to advise on a rate that is closer to the market price. I believe that if it is market-oriented, investors will be more willing to support,” shared Mr. Quang.
For government ministries and sectors, there should be an inter-ministerial steering committee with high interconnectivity and sufficient authority to resolve bottlenecks during the implementation process.
If the government and local authorities provide support to address these challenges, Nam Long, together with its partners, is committed to delivering 60,000 social housing units in various provinces and cities (Ho Chi Minh City, Hanoi, Can Tho, and Long An) from now until 2030.
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