The Vietnamese government has recently issued Decree No. 302, which provides detailed regulations on the National Housing Fund. This fund comprises two main components: the Central Housing Fund, established by the government and managed by the Ministry of Construction, and the Local Housing Fund, established and managed by provincial People’s Committees.
The National Housing Fund is a non-profit state financial fund outside the state budget, with legal status. It operates without the aim of generating profit.
According to the decree, the fund’s primary objectives and functions include investing in the construction of social housing projects, complete with technical infrastructure and social amenities, for rental purposes. It also aims to create social housing by repurposing public assets in compliance with housing laws and related regulations.
Establishment of the National Housing Fund at central and local levels. (Illustrative image)
The fund will acquire housing and social housing through various means, including purchasing from developers, commissioning, receiving, and transferring housing from state-owned enterprises, accepting resettlement and temporary housing, and receiving donations from organizations and individuals for rental purposes.
Additionally, the fund will purchase commercial housing for rent to civil servants, public employees, and workers.
Regarding its structure and organization, the decree stipulates that the fund’s organizational structure will follow the regulations for public service units. This includes a Director, up to two Deputy Directors, a Chief Accountant, and no more than five departments responsible for administrative and specialized functions.
The Director and Deputy Directors of the Central Housing Fund are appointed and dismissed by the Minister of Construction, while those of the Local Housing Fund are appointed and dismissed by the Chair of the provincial People’s Committee.
The Director serves as the fund’s legal representative and is fully accountable to the law, the Minister of Construction for the Central Housing Fund, and the Chair of the provincial People’s Committee for the Local Housing Fund.
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