Hanoi requests to shorten the time for procedures for real estate projects.

The Hanoi People's Committee has recently issued Official Document No. 4119, requesting relevant units to enhance access to credit capital and promote the development of corporate bond and real estate markets in an efficient, safe, healthy, and sustainable manner.

Departments, agencies, and localities are tasked with closely coordinating with the State Bank of Vietnam's Hanoi branch and credit institutions in the area to effectively implement solutions to improve access to credit for people and businesses, support businesses in developing production and business; strictly handle cases of law violations that disrupt security, order, and social safety in the area; and shorten the time for processing procedures for real estate projects…

The official document also stated that priority should be given to accelerating the progress of industrial real estate projects, social housing, and housing for workers. It emphasized the need to resolutely prevent bureaucratic delays, avoidance of responsibility, shirking of duties, and corruption in handling administrative procedures that negatively impact the progress of real estate projects.

Hà Nội yêu cầu rút ngắn thời gian làm thủ tục cho các dự án bất động sản - 1 — A real estate project in Hoang Mai district (Hanoi) has been stalled for many years without being implemented (Photo: Ha Phong).

The People's Committee of Ho Chi Minh City also assigned the Department of Natural Resources and Environment to take the lead and coordinate with the Department of Finance and other relevant agencies. These units are tasked with immediately resolving and removing obstacles and delays related to land allocation, land leasing, and land valuation. All parties will be held accountable to the Chairman of the People's Committee of Ho Chi Minh City if delays, negative practices, waste, or corruption occur that affect the progress of investment projects.

The Department of Planning and Architecture is tasked with leading and coordinating with relevant units to expedite the preparation and approval of general urban plans, sub-area urban plans, and functional zone plans... as a basis for implementing real estate projects effectively, appropriately, synchronously, and modernly.

The Department of Planning and Investment is responsible for publicly announcing the list of real estate projects that require the selection of investors through a bidding process, so that businesses have complete information, can proactively research, and register to participate in investment in an open, transparent, equal, and competitive manner according to market principles.

The Department of Construction is urgently and effectively implementing the tasks assigned in Decision No. 338 dated April 3, 2023, of the Prime Minister approving the Project "Investing in the construction of at least 1 million social housing units for low-income earners and industrial park workers in the period 2021-2030" and the VND 120,000 billion credit program for social housing construction projects, housing for workers, and renovation and reconstruction of apartment buildings.

In addition, the Hanoi People's Committee requested continued monitoring, review, and updating of the list of investment projects in the city to advise the People's Committee on considering and adjusting the list to meet the conditions and criteria for preferential loans for the development of social housing, worker housing, and the renovation and reconstruction of apartment buildings.

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