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Saturday, February 4, 2023

PM seeks to rescue gloomy real estate sector

By Y.M

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HCMC – Prime Minister Pham Minh Chinh yesterday, December 14, wrote to ministries and localities, ordering them to step up efforts to eliminate hurdles facing the real estate market.

PM Chinh told the Ministry of Construction and relevant authorities to carry out Decision 1435/QD-TTg issued on November 17, which requires the ministry to join hands with localities and real estate companies to cope with obstacles plaguing construction projects and tackle paperwork roadblocks.

It was also asked to speed up the plan to build one million low-cost homes for workers and low-income people from 2021-2030 as prescribed in Resolution 11/NQ-CP on socioeconomic recovery and development.

Meanwhile, the central bank’s governor was urged to work with commercial banks and relevant agencies on developing economies, cutting down on bureaucratic procedures and offering new loans to property firms and homebuyers to relieve the financial burden on the industry.

The minister of Natural Resources and Environment, together with the minister of Planning and Development, was tasked with paving the way for housing projects by completing the legal framework for laws on land, investment and bidding.

The minister of Finance was entrusted with monitoring the issue of realty bonds and coming up with solutions to deal with difficulties and measures ensuring the healthy, transparent, safe and effective operations of the corporate bond market, according to an official dispatch the prime minister signed on December 13.

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