Speed ​​up the disbursement of social housing credit

(Chinhphu.vn) - Despite having specific policies and legal frameworks, the implementation of social housing credit still faces many barriers from procedures to actual access to capital and supply. However, with the efforts of the Government, the banking sector and localities, the situation is gradually changing positively.

Conference to implement Resolution No. 201, 15th National Assembly dated May 29, 2025 on piloting a number of specific mechanisms and policies for social housing development - Photo: VGP/Nhat Bac

This is a content discussed at the Conference on implementing Resolution No. 201, 15th National Assembly dated May 29, 2025 on piloting a number of specific mechanisms and policies for social housing development, chaired by Prime Minister Pham Minh Chinh on the afternoon of June 2 in Hanoi .

Efforts to provide housing for low-income earners

Housing for low-income earners has always been a priority task for the Party and State in their socio -economic development strategy. Especially in the context of a sluggish real estate market, solutions to promote social housing are becoming more urgent.

According to Deputy Governor of the State Bank Pham Thanh Ha, the banking sector has clearly defined its role in implementing preferential credit policies for the social housing sector, closely following the direction of the Government, the Prime Minister and important resolutions such as Resolution No. 33/NQ-CP and recently Resolution No. 201/2025/QH15 passed by the National Assembly.

Since the beginning of 2025, the State Bank of Vietnam has issued Official Letter No. 55/NHNN-TD allowing commercial banks (CBs) participating in the social housing lending program to not include outstanding loans in the annual credit growth target. Not stopping there, the State Bank of Vietnam has continuously adjusted processes and procedures to create the most favorable conditions for people and businesses to access capital.

In particular, the State Bank of Vietnam has coordinated with the Ministry of Construction to organize more than 10 conferences to promote the implementation of the program, along with a series of documents directing local bank branches to coordinate with the government and investors to remove obstacles for each specific project. This determination partly shows the efforts of the banking sector in concretizing policies from the central to the grassroots level.

To date, 9 commercial banks have registered to participate in the program with a total commitment of up to VND 145,000 billion. Of which, the State Bank has announced 5 times to adjust the loan interest rate in a decreasing direction. Currently, the loan interest rate is 6.6%/year for investors and 6.1%/year for home buyers, lower than the rate stipulated in Decree 100/2024/ND-CP.

However, the disbursement rate is still not as expected. The report shows that only about 100 projects nationwide have been announced to participate in the program, of which only 53 projects have accessed loans. There are 28 projects that do not need loans, mainly because they do not need capital or have mobilized capital from buyers. The rest are in the process of appraisal or approaching banks.

"Due to the shortage of social housing supply, banks have difficulty disbursing loans even though they have resources ready. In addition, many localities have not yet announced the list of participating projects, or have announced them late, causing passive coordination and lack of information," Deputy Governor Pham Thanh Ha stated the reason.

Deputy Governor of the State Bank of Vietnam Pham Thanh Ha speaks at the Conference - Photo: VGP/Nhat Bac

Removing obstacles, perfecting mechanisms close to reality

Regarding preferential interest rates, Deputy Governor Pham Thanh Ha said: In addition to the overall program under Resolution 33, a notable highlight is the implementation of a separate credit package for young people under 35 years old to buy social housing. According to Official Dispatch No. 4290/NHNN-TD dated May 29, 2025, this program allows young people to borrow at preferential interest rates for 15 years, of which the first 5 years are reduced by 2% compared to the normal rate, the next 10 years are reduced by 1% compared to the normal interest rate.

This policy demonstrates the State's priority for urban youth, workers and low-income earners in society, contributing to solving the housing problem for the young workforce, which is a pillar of sustainable development.

From a local perspective, Mr. Duong Duc Tuan, Vice Chairman of the Hanoi People's Committee, expressed his commitment to ensuring that by 2030, there will be 100,000-120,000 social housing units, and said that in the coming time, Hanoi will prepare land for about 1,000 hectares of land, with 20 important projects. Therefore, Hanoi leaders proposed that it is possible to implement public investment projects, prepare independent land funds for projects to develop in order to be proactive and save time. Site clearance takes a lot of time, even more time than other processes of construction investment projects, so it is recommended that there should be more specific instructions.

Some localities have proposed allowing surveying, measuring, and site clearance compensation before making an investment policy decision, which is not clearly regulated by current law.

Regarding the issue of social housing, Deputy Minister of Finance Do Thanh Trung said that the Ministry is actively coordinating with the Ministry of Construction to advise the Government to issue general guidance documents, and at the same time coordinate support stages including: support for investors, support for building housing funds and support for buyers, ensuring smooth and effective credit sources.

In particular, during the implementation process, many contents arising from reality are also being considered for adjustment.

Regarding interest rates, the Ministry of Finance leader said: With the current fiscal mechanism, the State budget subsidizing interest rates for commercial banks to provide preferential loans is an important solution. The Ministry of Finance will direct the Development Bank to coordinate with the Social Policy Bank to ensure credit sources. The Ministry of Finance is actively participating in researching the interest rate subsidy mechanism, the housing development support fund and giving opinions on amending related policies.

Although there are still many challenges in implementation, it is clear that the policy of developing social housing is receiving synchronous participation from the National Assembly, the Government, ministries, branches, localities and the banking system.

Mr. Minh

Source: https://baochinhphu.vn/day-nhanh-tien-do-giai-ngan-tin-dung-nha-o-xa-hoi-102250602203833584.htm