In conclusion, the Standing Government requests ministers, heads of ministerial-level agencies, Government agencies, and Chairpersons of the People’s Committees of provinces and cities to urgently implement thorough decentralization and delegation of power in line with Conclusion No. 115 of the Politburo. The direction is for central agencies to focus on macro-management, institution-building, planning, and strategy, while specific tasks are delegated to localities with the spirit of “localities decide, localities do, and localities are accountable.” This is combined with the two-level administrative delegation in the coming time.
“Review and immediately clarify the reasons for the increase in the price structure of real estate (land prices, material prices, interest rates, etc.); urgently come up with a plan to reduce the elements that increase real estate prices, increase accessibility to real estate, and increase supply,” the document states.
Prime Minister Pham Minh Chinh speaks at the conference, which took place on May 24. Photo: PV.
The Standing Government emphasizes focusing on cutting down on overlapping and unnecessary administrative procedures, eliminating complicated paperwork requirements, and ensuring a reduction of at least 30% in the time and 30% in the cost of complying with administrative procedures, as per the Government’s requirements for implementing real estate projects. This includes considering reducing procedures for investment approval, project appraisal, and design, especially construction permits, inspection of acceptance work, reducing pre-checks, and strengthening post-checks.
The Standing Government requests ministers, heads of ministerial-level agencies, Government agencies, and Chairpersons of the People’s Committees of provinces and cities to review, amend, and immediately abolish inconsistent and conflicting standards and norms that cause additional costs, such as planning norms, parking spaces, and fire prevention. They should also research and develop supportive policies for homebuyers with genuine needs, young people, and increase citizens’ access to housing and real estate to realize their constitutional right to housing.
Along with researching and developing diverse real estate projects and products to increase accessibility for buyers, reduce costs, and increase supply, the Standing Government emphasizes that planning should focus on allocating central locations for long-term production, business, and service development. For residential areas, adequate technical and social infrastructure must be in place to meet land requirements. It is imperative to strictly handle acts of speculation, price manipulation, and dissemination of misleading information aimed at creating artificial fever and defrauding people for profit.
The Standing Government assigns the Ministry of Construction to coordinate closely with the Ministry of Natural Resources and Environment to promptly research and review the Laws on Housing and Real Estate Business to identify existing shortcomings and inconsistencies with reality to meet the expectations of the real estate market development… Conduct a comprehensive review of decrees and circulars on housing and real estate business to propose amendments by competent authorities through an expedited process, resolutely cutting down on cumbersome administrative procedures that increase costs and eliminating regulations inconsistent with practical development requirements…
Notably, the Standing Government assigns the State Bank of Vietnam to direct commercial banks to focus on lending and disbursement for commercial housing projects with suitable prices, promoting 8% growth in 2025. This will contribute to achieving the targeted overall growth rate. Reducing procedures and conditions will facilitate people’s and enterprises’ access to credit, while also strictly controlling corruption and negative behavior. Consider a credit package for young people with housing needs. The State Bank should also focus on directing and urging banks to participate in the VND 120,000 billion preferential credit program and research medium-term credit packages with stable interest rates for commercial housing projects at reasonable prices…
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