118 projects in Ho Chi Minh City need to determinate foreign ownership

The Ministry of National Defense and the Ministry of Public Security are tasked to determinate 118 projects in HCMC being or not under the list of housing construction projects that foreign organizations and individuals are permitted to own.

The Ho Chi Minh City People's Committee has just sent a dispatch to the Ministry of National Defense and the Ministry of Public Security regarding requirement of determining a list of housing construction projects in the areas where foreign organizations and individuals are permitted to own houses.

Previously, the Ho Chi Minh City Department of Construction had received requests from investors about determining whether their projects belong to the list of housing construction projects in the areas where foreign organizations and individuals are permitted to own.

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According to the municipal People's Committee, Article 16, Clause 2 of the Housing Law stipulates that the Ministry of National Defense and the Ministry of Public Security are responsible for informing about areas that need to ensure national defense and security to the provincial or municipal People's Committees to determine and publicly announce the list of housing construction projects in the areas that allow foreign organizations and individuals to own houses on their electronic portals and the housing management agency's portal.

Article 4, Clause 2 of Decree No. 95/2024 stipulates in detail several provisions of the Housing Law, states that within a maximum period of six months from August 1, 2024, the Ministry of National Defense and the Ministry of Public Security must specifically determine areas that need to ensure national defense and security in provinces and centrally-run cities by the law on state secrets protection; and inform the provincial People's Committees as a basis for determining the list of housing construction projects that foreign organizations and individuals are permitted to own.

Based on the notifications from the Ministry of National Defense, the Ministry of Public Security and the investment policy approval documents of the competent authorities, the provincial People's Committees are responsible for determining the list of housing construction projects in the area that foreign organizations and individuals are permitted to own houses, publicly announcing the list on the electronic portal of the provincial People's Committee and sending it to the provincial housing management agency to post the list on their electronic portal.

In order to reach the list of housing construction projects that foreign organizations and individuals are permitted to own houses, the Ho Chi Minh City People's Committee proposed the Ministry of National Defense and the Ministry of Public Security to provide their opinions for the determination of 118 projects in Ho Chi Minh City being or not under the list of housing construction projects that foreign organizations and individuals are permitted to own houses.

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