Vietnam’s Ministry of Construction Proposes Key Players for Social Housing Development
Vietnam’s Ministry of Construction has recently submitted a report to the government, identifying 18 capable construction firms for social housing projects and 15 provinces with the highest demand for affordable housing nationwide.
The ministry’s proposal highlights 15 provinces with the most pressing need for social housing, including: Ho Chi Minh City, Hanoi, Bac Ninh, Tay Ninh, Dong Nai, Phu Tho, Hung Yen, Hai Phong, Vinh Long, Dak Lak, Da Nang, Nghe An, Thai Nguyen, Ninh Binh, and Quang Tri. These areas, characterized by high population density, numerous industrial zones, and a large young workforce, face an urgent demand for affordable housing, particularly for workers.
Among the 18 selected companies, several prominent names in real estate, construction, and urban development are featured, such as: Vingroup, Sun Group, Viglacera, HUD, Hancorp, Corporation 319 (Ministry of Defense), Nam Long, Becamex IDC, Vinaconex, Thanh An (Division 11), Truong Son (Division 12), Kinh Bac, UDIC, Duc Manh, TasecoLand, Cat Tuong, Thu Do, and Construction Corporation No. 1.
Selected Companies Must Meet Stringent Criteria
According to the Ministry of Construction, these companies must meet stringent criteria, including robust financial capabilities to mobilize capital from both internal sources and banking systems. They must also possess experience in implementing social housing or worker housing projects, along with a governance structure and quality management system that ensures compliance with legal regulations regarding progress, labor safety, and quality.
Additionally, social responsibility is a critical factor, as this sector, while not highly profitable, holds significant political and social importance, aligning with the nation’s sustainable development strategy.
The selected companies are expected to commit to long-term engagement in social housing development from 2025 to 2030. They must also be capable of creating a closed value chain, from planning and design to construction, operation, and management of social housing, ensuring both quality and reasonable costs.
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