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Ho Chi Minh City
Wednesday, June 19, 2024

HCMC keen on social housing development

The Saigon Times

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HCMC – The HCMC People’s Committee has assigned relevant departments to explore and establish specific mechanisms to promote social housing development in the city.

The Department of Planning and Investment will conduct a review and propose solutions to streamline administrative procedures for approval of projects to build social homes and those for workers.

The department will work with relevant agencies and the HCMC Finance and Investment State-Owned Company to recommend including social housing projects in the city’s investment stimulus program, in line with the National Assembly’s Resolution 98 on special policies for HCMC.

The Department of Finance has been entrusted with considering an increase in state funding to support and encourage businesses, particularly prominent real estate companies, to participate in the construction of social housing. This department will collaborate with the Department of Construction and related agencies to publicly release a list of housing projects so that interested businesses can study them and propose taking part in their execution.

The Department of Industry and Trade is responsible for integrating social housing planning into the design of new urban and industrial areas. To fulfill this commitment, at least 2% of the total land area of industrial zones will be allocated for planning social and public facilities for the workers employed within those areas. The city will set aside backup land and invite infrastructure developers, industrial businesses, and real estate companies to invest in constructing accommodation and rental housing for workers.

In the case of underutilized industrial zones, where portions of land are yet to be developed, the city will examine and potentially revise the construction plan to allocate land for the development of workers’ housing, rental accommodation, and trade union facilities.

The Department of Natural Resources and Environment is entrusted with reviewing and issuing specific solutions to streamline administrative procedures concerning land allocation, land leasing, and land conversion from rice fields and protected forests to social housing development.

These solutions will also include additional incentives to support and attract businesses that invest in social housing projects.

Meanwhile, the Department of Construction is directed to supervise and instruct project owners of commercial housing and urban areas to invest in the construction of social housing on the 20% land allocation as per the approved schedule.

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