State Bank reviews to help businesses and home buyers access credit capital

We must join hands to remove difficulties and obstacles so that the real estate market can develop stably, safely, healthily, effectively and sustainably.

That was the concluding statement of Prime Minister Pham Minh Chinh at the conference to assess the situation and remove difficulties for the real estate market on the evening of August 3.

The Prime Minister emphasized that it is necessary to restructure real estate segments appropriately, paying attention to the social housing, worker housing, and housing for middle-income people segments. To promote social housing, worker housing, and renovate old apartments, leaders of provinces and cities need to focus on this work, implementing it practically, effectively, and without formality.

Prime Minister Pham Minh Chinh delivered a concluding speech at the conference (Photo: VGP/Nhat Bac).

"The State Bank continues to review credit lending to real estate businesses; has appropriate and effective solutions for businesses, real estate projects and home buyers to access credit capital more conveniently, both creating convenience and supporting businesses and controlling risks, contributing to removing difficulties, promoting the development of a safe, healthy, effective and sustainable real estate market, especially considering specifically lending to projects that are about to be completed," the Prime Minister requested.

Along with that, the Prime Minister assigned the Ministry of Construction to continue to carry out the task of reviewing, urging, and guiding the removal of difficulties and obstacles in the implementation of real estate projects for localities and enterprises in provinces and centrally run cities of the Working Group according to Decision No. 1435/QD-TTg of the Prime Minister.

The Ministry of Planning and Investment urges and guides localities to carry out planning work and remove difficulties and obstacles in investment procedures, approve investment policies for housing and real estate projects, including social housing and worker housing to increase supply to the market.

The Ministry of Natural Resources and Environment continues to coordinate with relevant agencies in completing the draft Land Law (amended); urgently complete and submit to the Government for consideration and promulgation the Decree amending and supplementing Decree No. 44/2014/ND-CP dated May 15, 2014 on land valuation methods; develop and adjust land price frameworks and land price tables; determine specific land prices and provide consultancy on land valuation according to simplified procedures; and at the same time guide localities to resolve difficulties and problems related to land valuation.

The Prime Minister asked businesses to continue to proactively review and restructure to ensure that they are consistent with their financial capacity, scale, management ability, and the real needs of society. (Photo: VGP/Nhat Bac).

For localities, the Prime Minister requested to continue implementing the tasks and solutions of Resolution No. 33/NQ-CP dated March 11, 2023 on a number of solutions to remove and promote the safe, healthy and sustainable development of the real estate market. The Chairman of the People's Committee proactively established Working Groups, focusing on reviewing and removing difficulties and obstacles in the implementation of real estate projects in the area.

Urgently and focusedly implement the tasks specifically assigned in Decision No. 338/QD-TTg dated April 3, 2023 of the Prime Minister approving 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 2021-2030 " and the VND 120,000 billion credit program for projects to build social housing, housing for workers, renovate and rebuild apartment buildings.

Strengthen planning work. Research to simplify and shorten administrative procedures according to authority. Focus on training, improving capacity and sense of responsibility of staff and civil servants.

For businesses, the Prime Minister suggested continuing to proactively review and restructure businesses, investment portfolios, and investment product structures to ensure they are consistent with the financial capacity, scale, and management capabilities of the business and in line with the real needs of society.

The Prime Minister once again requested relevant entities including state management agencies, localities, banks, enterprises and people to be responsible, join hands in solidarity and unification to resolve difficulties and obstacles, continue to create positive changes after the Conference, and promote the safe, healthy, effective and sustainable development of the real estate market.

PHAM DUY

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