On the afternoon of April 17, the Ho Chi Minh City Confederation of Labor and Tan Thuan Industrial Promotion Company (IPC) signed a Memorandum of Understanding (MoU) to coordinate the implementation of a social housing development project. Under the agreement, the two entities will work closely to achieve the target of developing 200,000 social housing units by 2030.
Recently, both parties have conducted research and surveys of suitable land plots for social housing construction. Development sites will focus on locations adjacent to or conveniently connected to areas with high worker density, such as industrial parks, export processing zones, high-tech parks, and software parks.
According to Vo Hong Tai, Acting General Director of IPC, investment will go beyond apartment construction to ensure a synchronous utility ecosystem, including nurseries, convenience stores, parks, and community spaces, aiming to comprehensively improve the quality of life for workers.
Vo Khac Thai, Standing Vice Chairman of the Ho Chi Minh City Confederation of Labor, stated that the Confederation will lead surveys on actual demand, propose preferential policy mechanisms to state agencies, and conduct communication and policy advocacy to ensure the housing reaches the intended beneficiaries. IPC will serve as the primary developer, responsible for land acquisition, financial planning, construction, and project operation.
Previously, the City Confederation of Labor signed agreements with three enterprises to deploy 80,000 social housing units by 2030, which is expected to partially meet the current housing needs of laborers in Ho Chi Minh City.
