Prime Minister Concerns Over $2,100-$2,900/m² Apartment Prices, Vietnam Young Entrepreneurs Association Pledges 10,000 Social Housing Units Next Year

On November 27th, the 8th National Congress of the Vietnam Young Entrepreneurs Association for the 2025-2030 term was held.

In his keynote address, the Prime Minister acknowledged the contributions of the business community, particularly young entrepreneurs, who have made significant strides, built brands that resonate regionally and globally, and elevated the nation’s standing.

Under the motto “Proactive State – Pioneering Businesses – Public-Private Partnership,” the Prime Minister urged the Vietnam Young Entrepreneurs Association and its members to elevate their mindset, think boldly, act ambitiously, value knowledge, and make decisive moves to seize opportunities.

The Prime Minister called on young entrepreneurs to lead in: fostering a generation of entrepreneurs with ideals and social responsibility; promoting startups, innovation, green transformation, and transparent governance; strengthening linkages and cooperation to form value chains and innovation hubs; and actively contributing to policy-making, partnering with the government, and meeting public expectations.

Beyond charitable activities like supporting flood and drought victims or eliminating makeshift housing, the Prime Minister emphasized the need for businesses to pioneer affordable housing development, enabling citizens, especially young people, to settle and thrive.

The Prime Minister also urged real estate companies and businesses new to this sector to embrace social responsibility, boldly invest in affordable housing, while the government continues to refine supportive policies and mechanisms.

“With apartment prices at 50-70 million VND per square meter, how can young people afford to buy without family, community, or societal support? Simplified policies and land-use fee exemptions are already in place. I urge the Association to launch programs, rally entrepreneurs to step up, and ensure actions follow words,” the Prime Minister stated.

The Prime Minister directed ministries, agencies, and localities to create a conducive environment for businesses through streamlined policies, synchronized infrastructure, and efficient governance. He also called for transparent procedures, reduced costs for citizens and businesses, and continued institutional reforms to drive development.

Responding to the Prime Minister’s remarks on affordable housing amid rising property prices, Mr. Dang Hong Anh announced: “After urgent discussions with the Association’s Central Standing Committee, we commit to starting construction on at least 10,000 affordable housing units in 2026. Members will register and report progress to the Prime Minister.”

The Chairman of the Vietnam Young Entrepreneurs Association pledged concrete actions to uphold the Association’s stature:

First, the Association will uphold the spirit of “Pioneering Innovation – Creating Value,” daring to think, act, take responsibility, and avoid complacency. Second, it will act decisively, turning resolutions into tangible results and spreading the ethos of “Young Entrepreneurs in Service.” Third, it will serve as a trusted bridge, safeguarding members’ interests and collaboratively addressing institutional bottlenecks, ensuring no one faces challenges alone.

Finally, the Association will prioritize effectiveness, publicly disclosing transparent metrics to ensure a substantive term focused on real value creation.

In his presentation at the congress, Mr. Nguyen Van Khoa, CEO of FPT, noted that while the private sector contributes 42% of GDP, employs 75% of the workforce, and generates 55% of total income, it still lacks the competitiveness to directly challenge global conglomerates.

He highlighted the immense pressure on young entrepreneurs to invest heavily in technology, research, and innovation. To break through, he proposed three strategies: developing human resources; advancing science, technology, data, and new energy sources; and innovating business models while building interconnected ecosystems to share value.