Prime Minister Pham Minh Chinh addressed the content at the 2nd meeting of the Central Steering Committee on Housing Policy and Real Estate Market, focusing on the breakthrough development of social housing.
Prime Minister Pham Minh Chinh. (Photo: VGP)
In his concluding remarks, the Prime Minister emphasized that social housing should not be limited to high-rise buildings but can also include low-rise structures. Social housing should not be located in remote areas but must have adequate infrastructure, including transportation, electricity, water, telecommunications, social services, healthcare, culture, and education.
The Prime Minister stressed, “No province lacks demand,” but the key is to find suitable methods and housing solutions tailored to local conditions and circumstances, while balancing supply and demand.
Regarding key tasks and solutions moving forward, the Prime Minister instructed that planning must be stable and long-term, without disrupting existing plans. Localities must proactively allocate land, handle land procedures, and resolve obstacles within their authority. If issues exceed their authority or require additional policies, they should propose further solutions.
The Prime Minister highlighted the need for diverse housing segments, including high-end, mid-range, and low-income options, ensuring balanced development without significant disparities in essential infrastructure (transportation, electricity, water, telecommunications) and social infrastructure (education, healthcare, sports, culture).
The Prime Minister noted that the law mandates localities to actively develop policies suited to their conditions, based on central government guidelines, and take responsibility for these matters.
The Prime Minister urged businesses to reduce costs and unnecessary expenses to make social housing more affordable, ensuring a balance of interests among the government, citizens, and businesses. In case of risks, all parties should share the burden.
Additionally, the Prime Minister directed the continued improvement of technology, information systems, databases, and regulations related to managing and monitoring real estate brokerage activities, operating trading floors, and establishing state-managed real estate and land use rights centers. This should be done transparently, efficiently, and within the appropriate authority, building on past successes and enhancing effectiveness.
Outlining specific tasks and solutions, the Prime Minister instructed the Ministry of Construction to issue detailed circulars following the government’s Decree 261/2025, particularly regarding timelines for social housing project procedures.
The government will also issue appropriate documents, establishing criteria and principles without limiting provinces or businesses, to enable localities to assign social housing construction tasks to businesses.
“I urge businesses to proactively take on these tasks, demonstrating responsibility toward the people, especially low-income individuals and vulnerable groups needing community and business support. Mechanisms for oversight, anti-corruption, and preventing policy exploitation must be in place,” the Prime Minister stated.
The Prime Minister tasked the Ministry of Construction with urgently submitting a draft decree detailing the National Housing Fund, emphasizing the need for comprehensive policies, broader coverage, and flexibility, including support for officials affected by administrative restructuring. Policies should prioritize convenient rental and rent-to-own options.
Regarding support for remote and rural communities, the Prime Minister stressed the importance of integrating related policies within national target programs to avoid overlap.
The Prime Minister directed the State Bank to accelerate the disbursement of the VND 145 trillion credit program for social housing and worker housing, making it more accessible while managing speculative real estate credit to prevent market bubbles.
Banks were also urged to reduce costs, adopt technology, and lower lending rates for both investors and homebuyers.
The Prime Minister called for enhanced policy communication to ensure public understanding and compliance, encouraging the promotion of best practices, innovative models, and effective approaches.
Raising the income threshold for social housing eligibility to VND 40 million/month for couples
Since the beginning of the year, the Prime Minister has chaired four national conferences related to social housing, issued three resolutions, three directives, and 124 documents steering housing and real estate market policies.
Most recently, on October 10, the government issued a decree amending social housing regulations, raising the income threshold for eligibility to VND 20 million/month for individuals, VND 40 million/month for couples, and VND 30 million/month for single individuals supporting underage children.
In the first nine months of 2025, the country invested in constructing 132,616 units, with 73 new projects totaling 57,815 units. Of these, 50,687 out of 100,275 units (50.5%) were completed, with an additional 38,600 units expected by year-end (totaling 89,007 out of 100,275 units, or 89%).
The Ministry of Public Security initiated six housing projects for the people’s armed forces, totaling approximately 4,220 units. The Ministry of Defense plans to start eight projects with a total of 6,547 units.
Sixteen localities are expected to meet or exceed their targets: Hanoi, Ho Chi Minh City, Da Nang, Hue, Bac Ninh, Hai Phong, Ninh Binh, Dong Nai, Hung Yen, Nghe An, Quang Ninh, Thai Nguyen, Ca Mau, Quang Tri, Quang Ngai, and Tuyen Quang.
Seven localities, including Phu Tho, Thanh Hoa, Can Tho, Lao Cai, Khanh Hoa, Tay Ninh, and An Giang, are likely to achieve their targets.
Prime Minister Outlines 5 Aspirations and 3 Pioneering Roles for Businesses and Entrepreneurs
On the afternoon of October 9th in Hanoi, Prime Minister Phạm Minh Chính chaired a conference to meet with outstanding business representatives and entrepreneurs nationwide in celebration of Vietnamese Entrepreneurs’ Day (October 13th). During the conference, the Prime Minister expressed five aspirations and three pioneering expectations for businesses and entrepreneurs.
Vietnam Opens Cryptocurrency Arena, Boosting the Digital Economy
Deputy Prime Minister Hồ Đức Phớc has signed and issued Resolution No. 05/2025/NQ-CP dated September 9, 2025, by the Government of Vietnam, regarding the pilot implementation of the cryptocurrency market in the country. This resolution will take effect from September 9, 2025.
“Expanding Social Housing Access: Advocating for Policies Supporting Families with Three or More Children”
The Deputy Prime Minister emphasized the need to enhance policies facilitating access to social housing for multi-generational families and nuclear families with three or more children.
Vietnam’s One-of-a-Kind $900 Million Project Receives Exciting EU Approval: Pioneering Unprecedented Technology
As per the outlined plan, the project is slated to commence operations in 2031.
Ho Chi Minh City: Vietnam’s Megacity and Engine of Growth
In just a few days, the Ho Chi Minh City Party Congress will officially commence. This event transcends local politics, marking a pivotal moment in the nation’s development. As the first Congress following the city’s expansion through the merger with Binh Duong and Ba Ria – Vung Tau, it heralds the birth of a megacity boasting over 14 million residents. This new metropolis stands as Vietnam’s premier hub for industry, services, finance, and maritime trade.
