Proactively work directly with businesses and real estate projects to resolve difficulties and problems.

On October 24, 2023, Prime Minister Pham Minh Chinh signed Official Dispatch No. 993/CD-TTg on continuing to resolutely implement solutions to develop a safe, healthy, and sustainable real estate market, contributing to promoting socio-economic development. The dispatch clearly states: To continue promoting the safe, healthy, and sustainable development of the real estate market, contributing to promoting socio-economic development, the Prime Minister requests:

Firstly, Ministers of ministries, heads of ministerial-level agencies, relevant agencies, Chairmen of People's Committees of provinces and centrally-run cities and enterprises : Be more determined, more responsible, proactive in organizing and implementing drastically and effectively the tasks and solutions assigned by the Government and the Prime Minister in Resolution No. 33/NQ-CP dated March 11, 2023, Official Dispatch No. 1164/CD-TTg dated December 14, 2022, Official Dispatch No. 178/TTg-CN dated March 27, 2023, Official Dispatch No. 194/CD-TTg dated April 1, 2023, Notice No. 133/TB-VPCP dated April 16, 2023 and in previous decisions and directions of the Prime Minister. Ministries, branches and localities must consider this one of the urgent and important tasks that need to be focused on solving according to the principle that the problem falls under the authority of which level, that level must solve it, not avoid, push it away, fear mistakes, fear responsibility.

Actively work directly with real estate project businesses to discuss difficult issues. Image 1 — Chairmen of People's Committees of provinces and cities need to review and count the number of real estate projects being implemented in the area. Illustrative photo

Second, the Prime Minister requested the Minister of Construction to: Continue to closely coordinate with the National Assembly Committees to complete the draft Law on Housing (amended), the draft Law on Real Estate Business (amended) to submit to the National Assembly for consideration and approval at the 6th Session to ensure feasibility, promptly remove difficulties and obstacles, promote the development of a public, transparent, safe, healthy and sustainable real estate market; Urgently develop and complete draft documents detailing and guiding the implementation of the Laws, especially regulations on the order and procedures for implementing commercial housing projects, social housing, and new urban areas to ensure they take effect simultaneously with the Laws, avoiding legal gaps.

Promoting the role and responsibility of the Head of the Prime Minister's Working Group, the Working Group's activities will be more drastic, stronger, and more comprehensive, promptly guiding and removing difficulties and obstacles, speeding up the progress of real estate projects, especially housing projects, large urban areas, and industrial parks with widespread impacts; promptly advising and proposing to competent authorities to amend, supplement, and perfect mechanisms and policies to promote decentralization, authorization, reduce administrative procedures, remove barriers, and speed up the progress of real estate projects nationwide.

Focus on directing, urging, and guiding localities and enterprises to accelerate the implementation of the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030", in which it is necessary to develop a specific implementation plan for investing in the construction of social housing for each year from now until 2030 in accordance with the requirements and conditions of each locality, periodically summarize and report to the Prime Minister on the implementation results every quarter.

Along with that, urge localities to review, plan, and arrange land funds for the development of social housing in urban areas and housing for workers in accordance with legal regulations; Strictly implement regulations on land allocation for social housing and ensure a reasonable ratio between commercial housing development and social housing in the area.

Third, for the Governor of the State Bank of Vietnam, the Prime Minister requested : Directing commercial banks to continue promoting credit lending to the real estate sector; Having appropriate solutions to reduce costs to reduce interest rates; Continuing to review and further reduce inappropriate, cumbersome and costly administrative procedures so that businesses, real estate projects and home buyers can access credit sources more conveniently. Having special credit promotion policies for feasible real estate projects with fast implementation progress, creating momentum for growth and promoting the real estate market.

Preside over and closely coordinate with the Ministry of Construction to carefully review the procedures and conditions for favorable and open lending, control and accelerate the implementation of the 120,000 billion VND credit program for preferential loans for the development of social housing, workers' housing, and the renovation and reconstruction of old apartments. Direct commercial banks to promptly guide credit loan procedures for projects that have been announced as eligible and in need of loans for both investors and home buyers of the 120,000 billion VND credit program.

Fourth, the Prime Minister requested the Minister of Natural Resources and Environment to: Urgently complete and submit to competent authorities for consideration and promulgation of a Decree amending and supplementing Decree No. 44/2014/ND-CP dated May 15, 2014 regulating land valuation methods in October 2023.

Continue to invest efforts and closely coordinate with the National Assembly Committees and relevant agencies to complete the Land Law project (amended) to ensure consistency with the Housing Law project (amended) and the Real Estate Business Law (amended).

Along with that, promptly guide localities to resolve problems related to land allocation, land lease, land price determination, planning, and annual land use plans, especially at the district level; Propose solutions to remove difficulties for the real estate market under the management field for arising issues that exceed authority.

Fifth, Chairmen of People's Committees of provinces and centrally-run cities : Urgently complete the establishment, adjustment and supplementation of local housing development programs and plans, especially the establishment and approval of timely and effective planning and plans, and specific implementation for investment in social housing projects each year from now until 2030 according to the targets assigned by the Prime Minister in the Project; Quarterly report the implementation results to the Ministry of Construction for synthesis and reporting to the Prime Minister.

Review and count the number of real estate projects being implemented in the area; Actively classify projects facing difficulties and obstacles; Actively and proactively work directly with each enterprise and each project facing difficulties or slow implementation to clearly identify the causes and promptly resolve difficulties and obstacles within the authority; Synthesize difficulties and obstacles beyond the authority and send them to the Prime Minister's Working Group for consideration and resolution or report to competent authorities for timely and effective consideration and decision.

Accelerate the establishment and approval of planning, especially construction planning and urban planning, as a basis for implementing synchronous and modern real estate projects, paying attention to arranging social housing projects and housing for independent workers in suitable, convenient locations with full technical and social infrastructure. Publicly announce the list of real estate projects that must select investors through bidding so that businesses have full information, proactively research, and register to participate in investment in a public and transparent manner.

Directing competent authorities to speed up the settlement of investment, construction, land allocation, and land price determination procedures, and promptly implement real estate projects, with priority given to accelerating the progress of industrial real estate projects, social housing, and housing for workers. Resolutely not allowing the situation of evasion, shirking of responsibility, delay, harassment, and negativity in the settlement of administrative procedures to affect the progress of real estate projects.

Direct the Department of Natural Resources and Environment, the Department of Finance and relevant agencies to focus on resolving and removing obstacles and delays in land allocation, land lease and land price determination. Review and decide on land prices within authority, in accordance with legal regulations and be responsible to the Prime Minister if there are delays that affect the progress of investment projects.

The Prime Minister assigned the Government Office to regularly monitor, urge and inspect ministries, agencies and localities in performing the tasks assigned in this Official Dispatch, and promptly report to the Prime Minister on the situation and results of implementation.

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