PM emphasizes need to diversify resources for social housing development

Prime Minister Pham Minh Chinh has emphasized 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 Pham Minh Chinh speaks at the event. (Photo: SGGP)

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 programs, 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.

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