The Prime Minister requested strict handling of price fixing and manipulation of the real estate market.

On the afternoon of May 24, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee with ministries, branches, associations, banks and enterprises to assess the real estate market situation and propose solutions to promote healthy and sustainable development.

The Prime Minister demanded strict handling of price fixing and market manipulation.

According to the report, the real estate market still faces many difficulties and obstacles, most notably limited supply, imbalances between segments, slow progress in social housing projects, and many projects encountering legal issues related to land, investment, construction, and auctions. Currently, there are approximately 788 real estate projects nationwide facing difficulties and obstacles related to land, investment, planning, construction, housing, bidding, project funding, and implementation of inspection conclusions. These unresolved difficulties and obstacles mainly fall under the jurisdiction of local authorities.

During the meeting, delegates proposed that, in addition to removing difficulties and obstacles for the real estate market, it is necessary to reduce costs affecting real estate prices; have plans, targets, and regulate real estate segments appropriately; and strictly handle acts of price manipulation and market manipulation…

Concluding the meeting, Prime Minister Pham Minh Chinh emphasized the need for decisive action against acts of speculation, artificial price manipulation, market manipulation, and the exploitation of land auctions for personal gain and disruption of the real estate market. He also directed ministries and agencies to continue reviewing and proposing to the National Assembly solutions to legal obstacles, especially those of a key nature, to create leverage for the development of a healthy and transparent market.

The Prime Minister requested ministries, sectors, and localities to focus on solutions to reduce costs, lower real estate prices, increase supply, and create conditions for people to access housing with the goal of "everyone having a place to live." Along with that, he urged the establishment of the National Housing Development Fund by June 2025, instructed the State Bank of Vietnam to direct commercial banks to implement the VND 120,000 billion housing credit program, cut administrative procedures, promote controlled credit growth, and support businesses and people in accessing capital effectively.

On the same day, Prime Minister Pham Minh Chinh also chaired a meeting of the Government Standing Committee to hear reports, assess the situation, and provide guidance on the negotiations for a bilateral agreement on reciprocal trade between Vietnam and the United States.

The Prime Minister assessed that the recent rounds of negotiations had made significant positive progress, with both sides having the opportunity to share information and mutual understanding, laying the groundwork for further steps. The Prime Minister requested the negotiating teams to continue building on the achievements, aiming for an early conclusion of the negotiations in a spirit of balance and harmony of interests between the two sides.

PHAN THAO

Source: https://www.sggp.org.vn/thu-tuong-yeu-cau-xu-ly-nghiem-cac-hanh-vi-lam-gia-thao-tung-thi-truong-bat-dong-san-post796653.html