State Bank will hold urgent meeting on real estate credit

According to a source from the Nguoi Lao Dong Newspaper, it is expected that on February 6, the State Bank will hold a meeting to listen to reports on the capital situation for the real estate market. The meeting will be attended by leaders of the State Bank, leaders of the Credit Departments of economic sectors, the Monetary Policy Department, the Banking Inspection and Supervision Agency and General Directors of credit institutions....

The meeting aims to record opinions of relevant units so that the State Bank can prepare for the online conference on credit organization for the real estate sector.

A desolate scene in a residential area in Thu Duc City. Previously, during the bustling time of the real estate market, brokers were busy on both sides of the road introducing and selling land plots to customers.

Previously, at the regular Government meeting with localities in January 2023, Prime Minister Pham Minh Chinh requested relevant ministries, branches and localities to identify difficulties in the real estate market as a bottleneck that needs to be resolved soon to remove difficulties for many other areas, such as corporate bonds.

The Prime Minister "finalized" that in February, a meeting must be held to resolve difficulties for the real estate market; urgently complete and issue a decree amending and supplementing Decree 65 on the offering and trading of individual corporate bonds...

As reported by the Lao Dong Newspaper, in the context of the difficult real estate market, businesses have difficulty accessing credit capital, issuing bonds and mobilizing capital from customers, leading to many businesses lacking capital, having to delay or temporarily suspend project implementation.

Incomplete statistics from the annual financial reports of real estate companies listed on the stock exchange show that by the end of 2022, the value of inventories of land funds and unfinished construction projects amounted to hundreds of thousands of billions of VND, a sharp increase compared to before. This means that a huge amount of capital is stuck in land but businesses cannot turn around the money to continue implementing.

At 2:00 p.m. on February 6, the Lao Dong Newspaper will hold a discussion with the theme "Resolution 01 - Breakthrough in supporting businesses". The discussion is held to listen to economic experts, leaders of ministries, associations, and businesses discuss, propose, and contribute ideas on the main tasks and solutions to implement socio-economic development and state budget estimates and improve the business environment in 2023, soon unblock capital flows, contributing to promoting economic growth.

2023 is a pivotal year for the Socio-Economic Development Plan for the 2021-2025 period. The economy needs more support solutions to overcome difficulties and challenges and recover and grow strongly in the context of many opinions reflecting difficulties in capital, needing more support policies from the state, improving the business environment...

The discussion of the Lao Dong Newspaper will be held in person and online.

Source: https://nld.com.vn/kinh-te/ngan-hang-nha-nuoc-se-hop-khan-ve-tin-dung-bat-dong-san-2023020513555799.htm