Ministry of Construction proposes to 'pump' 100,000 billion VND in preferential capital for social housing

(CLO) The Ministry of Construction is seeking opinions from ministries and branches on the draft Resolution on preferential capital for social housing development with a scale of about 100,000 billion VND from issuing government bonds.

According to the Ministry of Construction, the resolution aims to ensure capital to implement the investment project to build at least 1 million social housing units for low-income people and industrial park workers in the 2021-2030 period; create conditions for everyone to have accommodation, provide housing support for social policy beneficiaries, low-income people, and the poor facing housing difficulties, contributing to political stability and ensuring social security.

The Ministry of Construction said that to implement the Government 's project to build 1 million social housing units in the 2021-2030 period, capital of up to VND500,000 billion is needed. Therefore, the Ministry of Construction is drafting a resolution on preferential credit capital of VND100,000 billion for the Bank for Social Policies to lend to buy, hire-purchase, build, renovate and repair social housing.

Illustration photo. (Source: ST)

The interest rate of the preferential credit package of 100,000 billion VND for purchasing social housing is equal to the interest rate for poor households as decided by the Prime Minister in each period. The disbursement period of the preferential credit package of 100,000 billion VND is until the full disbursement of this credit package, but not exceeding December 31, 2030.

The allocation and disbursement of preferential credit packages for social housing development is expected to be implemented as follows: In 2025, about VND 16,500 billion will be allocated; in 2026, about VND 16,500 billion will be allocated; in 2027, about VND 16,500 billion will be allocated; in 2028, about VND 16,500 billion will be allocated; in 2029, about VND 16,500 billion will be allocated; in 2030, about VND 17,500 billion will be allocated.

To implement the preferential credit package of 100,000 billion VND, the Ministry of Construction proposed that the Government assign the Ministry of Finance to review and carefully and specifically evaluate the possibility of issuing government bonds to provide capital for the Social Policy Bank to lend for purchasing, leasing, constructing, renovating and repairing houses.

According to the draft, it is proposed that the Ministry of Planning and Investment coordinate with the Ministry of Finance and relevant ministries and branches to allocate government bond capital for social housing development. In the process of appraising investment policies for industrial park infrastructure projects, it is necessary to appraise the allocation of land for the development of workers' housing according to the provisions of the Housing Law.

Regarding the State Bank, the Ministry of Construction proposed that the Government assign this agency to coordinate with the Bank for Social Policies to review and remove difficulties and obstacles to effectively implement the social housing support loan program.

The Vietnam Bank for Social Policies develops a project to issue government-guaranteed bonds, sends a request for a guarantee to the Ministry of Finance for submission to the Prime Minister for approval, grants a government guarantee to the Vietnam Bank for Social Policies to organize the issuance of government bonds, and manages capital sources according to regulations.

The Ministry of Finance and the Ministry of Planning and Investment prioritize the allocation of VND 100,000 billion for social housing development projects and home buyers.

Localities must have specific mechanisms and solutions to shorten administrative procedures for project establishment, approval, land allocation, land lease, site clearance, construction investment procedures, etc. to support and encourage businesses to invest in construction projects, create supply for the market and take advantage of preferential capital sources for social housing development.

Source: https://www.congluan.vn/bo-xay-dung-de-xuat-bom-100000-ty-dong-von-uu-dai-doi-voi-nha-o-xa-hoi-post323772.html