The People’s Committee of Ho Chi Minh City has proposed to the Prime Minister and related ministries to issue regulations that compel all commercial housing projects, irrespective of their size, to use 20 percent of their land area for social housing projects.
Accordingly, ministries should issue regulations that compel all developers of commercial housing complexes and urban areas to use at least 20 percent of their land area for social housing projects.
At present, the Housing Law requires only those projects with an area of 10 hectares or more to use 20 percent of their area for social housing projects.
The People’s Committee of HCMC has proposed that ministries and departments should also issue norms to assess the financial stability of investors before handing over or leasing land to them. This will prevent bogus investors with limited capital to undertake projects far beyond their means.
The City asked the Government not change regulations on administrative procedures in land, investment and construction at irregular intervals.
They should promulgate policies on land pricing, land withdrawal, land lease, compensation and resettlement to ensure rights of residents and speed up projects.
