On October 24th, Prime Minister Pham Minh Chinh, Head of the Central Steering Committee for Housing Policy and Real Estate Market, chaired a conference with ministries, localities, and businesses to discuss breakthrough solutions for social housing development.
During the meeting, delegates focused on providing feedback for the new draft resolution by the Government on implementing social housing development solutions. Notably, the mechanism allowing businesses to act as project investors was a key point of discussion.
 Conference on breakthrough solutions for social housing development – Photo: VGP
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Streamlining Procedures and Expanding Investor Options
Le Quang Hung, former Deputy Minister of Construction and member of the Policy Advisory Council, suggested that the Ministry of Construction should streamline the licensing process for social housing projects to just two steps: investment approval in principle and FS appraisal or construction permit issuance, instead of the previous three steps. This would prevent misunderstandings and shorten implementation time.
Regarding investor selection criteria, Mr. Hung argued that the list of 21 enterprises recommended by the Ministry of Construction should serve as a reference rather than an exclusive list. Instead, the Ministry should establish specific selection criteria, such as political commitment, financial capacity, progress, and selling price, allowing localities to choose suitable partners independently.
He also urged regulatory authorities to set price targets corresponding to the average income of residents when approving investment plans. “If the average income is around 10 million VND per month, social housing prices must be affordable, without adding a 10% profit margin that would push prices to 25-30 million VND per square meter, making it unaffordable for residents,” he stated.
Additionally, Mr. Hung noted that the draft currently lacks focus on low-income workers, primarily targeting middle-income groups. Rental housing for workers is often overlooked by businesses due to long capital recovery periods. He proposed linking social housing policies with labor-intensive enterprises, encouraging them to invest in rental housing within industrial zones using their welfare funds.
Businesses Seek Capital Mobilization Flexibility
Representatives from construction companies requested the ability to include certain self-funded expenses in the selling price and facilitate additional capital mobilization beyond credit, particularly from the stock market.
Deputy Minister of Finance Do Thanh Trung responded that social housing projects already receive significant state support, so selling prices must adhere to existing criteria and regulations, without separate special mechanisms.
Mr. Trung mentioned that Decree 245/2025/ND-CP, effective from September 11, 2025, allows shares to be listed immediately after IPO, enabling businesses to raise capital more efficiently and protect investor interests. The Stock Exchange can review listing applications concurrently with the State Securities Commission’s IPO appraisal process.
Furthermore, eligible businesses can issue private bonds to raise capital alongside share listings.
The Deputy Minister also suggested developing an online social housing registration system managed by a central agency, connected to relevant ministries and sectors. This system would allow residents to register and have their applications reviewed online, significantly reducing processing time.
Exclusion of Land Clearance Costs from Selling Price
In response to businesses’ proposal to include land clearance and compensation costs in the selling price, Minister of Construction Tran Hong Minh asserted that this would distort the spirit of social housing policy, causing prices to approach those of commercial housing.
He emphasized that social housing prices on land handed over by local authorities should only include construction and technical infrastructure costs, maintaining the goal of supporting low-income earners.
Acknowledging the feedback, Minister Tran Hong Minh stated that the Ministry of Construction would finalize the new draft resolution on breakthrough solutions for social housing development and submit it to the Government as soon as possible, ensuring feasibility and alignment with practical realities.
– 19:43 24/10/2025
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