Mr. Bui Xuan Cuong, Vice Chairman of the Ho Chi Minh City People's Committee, has tasked the Department of Planning and Investment to review and issue detailed processes, streamline administrative procedures in investment, and approve investment policies for housing projects and social housing and worker accommodation construction projects.
Regarding the project aimed at constructing one million units of social housing for low-income individuals and industrial zone workers in the 2021-2030 period, Mr. Bui Xuan Cuong, Vice Chairman of the HCMC People's Committee, on July 21, assigned the Department of Planning and Investment to review and issue detailed processes, streamline administrative procedures in investment, and approve investment policies for housing projects and social housing and worker accommodation construction projects.
Furthermore, the department will collaborate with relevant authorities and the Ho Chi Minh City Finance and Investment State-Owned Company (HFIC) to propose the inclusion of additional social housing and worker accommodation projects in the city's investment stimulus program to implement Resolution No. 98 of the National Assembly, which aims to pilot specific mechanisms and policies for the development of HCMC.
The Department of Construction mandates that investors of commercial housing projects and urban areas must invest in the construction of social housing on 20 percent of the land allocated for these projects in accordance with the approved schedule. If an investor fails to meet this obligation, the department will advise the HCMC People's Committee to reclaim the 20 percent land fund and assign it to another eligible investor.
