PM Pham Minh Chinh signs a document requesting more efforts to promote the development of and remove obstacles to the real estate market. (Photo: SGGP)
He asked ministries, agencies, and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023, on several measures to solve difficulties for and promote the safe, healthy, and sustainable development of the market.
The Ministry of Construction (MoC), the Ministry of Finance (MoF), and the State Bank of Vietnam (SBV) must coordinate closely with each other and with relevant agencies to help businesses overcome difficulties and make the market revive.
Real estate enterprises must adjust the product structure and market segments as well as offer more reasonable prices; pay special attention to the development of social housing and houses for workers that are suitable to people's income. Competent authorities need to review housing and real estate projects to work with enterprises on measures to handle legal problems, especially in projects with corporate bonds and bank loans, and capital mobilized from buyers, the Government leader stressed.
He also urged the MoC to soon complete a project on building at least one million social housing apartments for low-income earners and workers in industrial parks in the 2021-2030 period.
The MoF was asked to carry out harmonious, reasonable, and effective measures to support enterprises to restructure bond debts, interest rates, payment terms, and conditions in accordance with regulations.
PM Chinh also urged the central bank to soon implement the credit program worth around VND120 trillion (US$5.1 billion) to assist commercial banks in providing preferential loans for investors and buyers of projects building social housing and houses for workers, and reconstructing old apartment buildings.
Local People’s Committees were required to soon approve master plans, as well as land use plans and housing development plans and programs for five years and annually; and organize meetings with each enterprise to help them deal with difficulties.