PM emphasises need to diversify resources for social housing development

May 20, 2024 | 15:25

(0) user say

Prime Minister Pham Minh Chinh has emphasised the need to diversify resources for social housing development, from the State, the public, society and financial institutions, in order to provide support for both sellers and buyers.

PM emphasises need to diversify resources for social housing development

PM Pham Minh Chinh speaks at the event. (Photo: VNA)

Hanoi – Prime Minister Pham Minh Chinh has emphasised the need to diversify resources for social housing development, from the State, the public, society and financial institutions, in order to provide support for both sellers and buyers.

PM Chinh made this call while chairing a meeting with ministries and agencies in Hanoi on May 17 to discuss solutions to social housing development, as part of a project aiming to construct at least 1 million social housing units for low-income earners and industrial zone workers in the 2021-2030 period.

He acknowledged that key hurdles relating to land allocation, administrative procedures and real estate regulations have been largely resolved, saying that the laws on land, housing, real estate business and credit institutions have been issued, and what matters now is how to put them into practice.

The localities were urged to proactively engage in specific programmes, plans and projects while procedures and conditions for borrowers seeking social housing must be simplified, he said.

The leader also urged building and issuing a resolution allowing the Land Law, Housing Law and Real Estate Business Law to take effect early from July 1, 2024, and the early enforcement of preferential policies for social housing projects.

The PM assigned specific tasks to relevant ministries, local authorities and investors to ensure the successful implementation of the project.

Currently, Vietnam now has 503 underway social housing projects, providing a total of 418,200 apartments.

HCM City to build 35,000 social housing apartments in 2021-2025

The southern economic hub of Ho Chi Minh City is striving to build 35,000 social housing apartments by 2025, equivalent to 2.5 million square metres of floor space, said the municipal People's Committee.

Land zoned for social housing expands to over 8,390ha: ministry

The land area zoned for social housing development has increased by 5,031ha from the 3,359ha reported in 2020, said the Ministry of Construction (MoC).

Social housing needed to boost capital in real estate

Amid a gloomy real estate market, experts have pointed out that the affordable housing segment is the key to mobilising capital.

Dong Nai eyes 10,000 units of social housing by 2025

The southern province of Dong Nai targets some 10,000 units of social housing built by 2025, the provincial Department of Construction said at a meeting on March 21.

By VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional