The Government Office has just issued a Notice of Prime Minister Pham Minh Chinh's conclusion on the implementation results of Resolution No. 33 of the Government and proposed solutions to remove difficulties and obstacles for the real estate market.
In this announcement, the Prime Minister assessed that the recent removal of legal difficulties and solutions to promote the market have had certain effects, helping the situation to be better each month than the previous month, and each quarter better than the previous quarter. However, there are still many difficulties and problems that have lasted for many years, and the resolution of these difficulties requires time and timely and appropriate solutions.
The Prime Minister assigned the Ministry of Construction to preside over and coordinate with ministries and branches to direct, urge, and guide localities and enterprises to implement and remove difficulties in the project to invest in building at least 1 million social housing apartments for low-income people and industrial park workers in the 2021-2030 period.
The Ministry of Finance shall review, carefully evaluate and implement solutions to develop the corporate bond market to serve the development of the real estate market; study and soon establish a Fund for the development of social housing and housing for workers.
The Prime Minister requested the State Bank to continue reviewing and promoting credit lending to real estate businesses, and direct commercial banks to have appropriate and effective solutions so that businesses, real estate projects and home buyers can access credit sources more conveniently.
The Prime Minister requested drastic measures to remove difficulties for the real estate market (Photo: Huu Thang).
The State Bank shall preside over and coordinate with the Ministry of Construction and provinces and cities to effectively implement a credit program of about VND 120,000 billion for preferential loans to develop social housing, workers' housing, and renovate and rebuild apartment buildings. Direct and urge commercial banks to continue sharing with businesses and people, creating conditions to lower lending interest rates, simplify administrative procedures for lending, etc.
Enterprises need to continue to proactively organize reviews and restructuring of enterprises, ensuring that they are consistent with financial capacity and real needs of society, restructure prices, promotional programs, and encourage investors and people to buy houses and do real estate business.
In addition, it is necessary to urgently review, complete and report, propose to competent agencies and individuals and closely and effectively coordinate to consider and resolve legal procedures of the project in order to quickly deploy and implement the project in accordance with legal regulations.
Enterprises focus resources, prioritizing projects that are about to be completed, large projects with high feasibility to put into operation soon, exploit to recover capital, create cash flow for enterprises and increase supply to the market;
In addition, businesses also need to review and restructure capital sources and products, focus on handling bad debts to facilitate access to credit sources, bonds, securities, etc. to implement projects. The Prime Minister also requested businesses to support, have forms of encouragement, and facilitate home buyers in terms of procedures .
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