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Tuesday, June 18, 2024

PM urges accelerating social housing development

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh has called for an acceleration of work on the national plan to build one million social homes by 2030 for low-income people and factory workers.

According to reports, 503 social housing projects with 418,200 units have got underway nationwide, but only 75 of them have been completed, providing 39,884 units.

While a VND120 trillion credit package has been set up to support the plan, disbursement has been slow due to difficult access to land and other reasons.

Currently, in addition to four State-run commercial banks – BIDV, Vietinbank, Agribank, Vietcombank, privately held banks TPBank and VPBank have registered to participate in the program with a registered amount of VND5 trillion each.

Banks have disbursed VND1,144 billion, including VND1,133 billion to investors in 11 projects and VND11 billion to homebuyers in four projects.

However, large cities and provinces with many industrial zones, such as Hanoi, HCMC, Danang, Can Tho, and Long An, have been facing low rates of social housing development.

PM Chinh stressed the importance of social housing development in ensuring social security and promoting economic growth. He called for more effective solutions from relevant ministries and agencies.

Specific tasks were assigned, such as expediting the issuance of guiding decrees, reviewing land locations for social housing, and offering preferential credit packages for both developers and homebuyers. The Ministry of Finance was tasked with studying the establishment of a social housing fund.

The Government and the PM have issued 40 relevant documents directing the implementation of the social housing development plan, including 14 documents specifically on credit for the plan.

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