The Prime Minister directed to research, develop and provide credit packages for buyers with a term of 10-15 years with interest rates 3-5% lower than commercial loans.
Social housing is normal housing like other types of housing.
On March 16, Prime Minister Pham Minh Chinh chaired a conference to remove difficulties and promote the development of social housing.
In his concluding remarks at the conference, Prime Minister Pham Minh Chinh stated that the development of social housing has not yet met its goals, requirements and expectations and there are still some shortcomings and difficulties. Many localities do not have available clean land for social housing.
Some social housing projects in some localities have planning but are granted to investors with weak capacity, while some enterprises lack motivation to implement because of low efficiency, leading to slow project implementation. The maximum profit margin of only 10% according to the 2023 Housing Law for social housing investors is not high if there are additional compliance costs.
"If localities do not create favorable conditions and support but instead make demands, cause difficulties, and harass, businesses will also lose enthusiasm," said the Prime Minister.
The Prime Minister emphasized that social housing is normal housing like other types of housing, must ensure quality, safety, environmental hygiene, and ensure infrastructure for health care, education, etc.
The Prime Minister emphasized that social housing is normal housing like other types of housing, must ensure quality, safety, environmental sanitation, ensure infrastructure for health, education, social and other services, ensure electricity and water, but the difference is that there are appropriate mechanisms and policies for buyers and sellers.
In particular, social housing should not be built in remote, deserted places, or places where commercial housing cannot be built, or social housing lacking medical infrastructure, education, electricity and water, or environmental sanitation... Social housing must be rented and lease-purchased in addition to purchasing.
Research credit packages with a term of 10-15 years with interest rates 3-5% lower
To develop social housing, the Prime Minister requested the Ministry of Construction to take the lead in developing a process to shorten administrative procedures for selecting investors and implementing social housing projects to save time and encourage and mobilize social resources.
The State Bank of Vietnam (SBV) has directed major state-owned commercial banks to join hands with businesses to research, develop and provide credit packages for buyers with a term of 10-15 years with interest rates 3-5% lower than commercial loans; research and consider lowering the lending interest rate for the VND120,000 billion support capital source appropriately.
The Ministry of Planning and Investment shall coordinate with the Ministry of Finance and the State Bank of Vietnam to report to the Prime Minister on supplementing the state budget capital to implement social housing loans through the Vietnam Bank for Social Policies for the period 2024 - 2025 in accordance with the law on housing.
The Ministry of Finance is studying the establishment of a Social Housing Fund and appropriate tax policies.
The Prime Minister requested to study a credit package for buying social housing with a term of 10-15 years and an interest rate 3-5% lower.
For localities, the Prime Minister requested that Party committees issue resolutions to lead the development of social housing, and People's Councils issue policies and regulations suitable to local characteristics.
The Prime Minister emphasized that beautiful and advantageous lands and locations must be prioritized for production and business, thereby creating jobs for people, from which people will come to work, and when people come, people will come to live and buy houses, thereby developing real estate and sustainable urban areas.
Along with that, the auction and bidding organization selects investors with potential, finance, and experience, implements openly and transparently, and increases the deposit and guarantee ratio to ensure the selection of investors with good potential.
Urge investors of commercial housing projects and urban areas to implement investment in social housing construction on 20% of the land fund of these projects according to the approved schedule; in case the investor fails to implement, the 20% land fund will be recovered to select other investors to implement.
For businesses, the Prime Minister requested that investors of social housing projects establish schedules, prepare adequate resources and finances, and apply new technologies to shorten construction time.
Chairmen of People's Committees of provinces and centrally run cities are responsible to the Government for completing the targets for social housing construction in their localities. The Ministry of Construction regularly inspects, urges, and promptly resolves difficulties and obstacles so that localities can complete the set targets.
In 2025, provinces and centrally run cities urgently develop plans, targets, and specific numbers for social housing construction in 2025 and the 2026-2030 period, send them to the Ministry of Construction for synthesis, and report to the Prime Minister before November 30, 2024.
According to VTV.VN
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