Resolutely implement solutions to develop a safe, healthy and sustainable real estate market.

The dispatch stated: In the past time, the Government and the Prime Minister have issued many instructions, ministries, branches and localities have made efforts to join in and coordinate the synchronous implementation of policies, tasks and solutions to remove difficulties for the real estate market, especially difficulties and obstacles related to law and capital sources. The synchronous implementation of these solutions has been effective, creating positive changes, especially reducing lending interest rates and credit for real estate. Since the beginning of 2023, 10 social housing and housing projects for workers have been started with a total of about 19,853 units, 20 provinces have announced a list of 52 projects eligible for loans under the VND 120,000 billion credit program with a loan demand of VND 25,884 billion.

In addition to the achieved results, there are still difficulties and problems related to legal issues, land allocation, land valuation, capital market, administrative procedures, decentralization, and especially access to credit for real estate. In order to continue promoting the safe, healthy, and sustainable development of the real estate market, contributing to the promotion of socio-economic development, the Prime Minister requested:

1. Ministers, heads of ministerial-level agencies, relevant agencies, Chairmen of People's Committees of provinces and centrally-run cities and enterprises must be more determined, more responsible, proactive in organizing and implementing drastically and effectively the tasks and solutions assigned by the Government and the Prime Minister in Resolution 33/NQ-CP dated March 11, 2023, Official Dispatch 1164/CD-TTg dated December 14, 2022, Official Dispatch 178/TTg-CN dated March 27, 2023, Official Dispatch 194/CD-TTg dated April 1, 2023, Notice 133/TB-VPCP dated April 16, 2023 and in previous decisions and directions of the Prime Minister. Ministries, branches and localities must consider this one of the urgent and important tasks that need to be focused on solving according to the principle that the problem falls under the authority of which level, that level must solve it, not avoid, push it away, fear mistakes, fear responsibility.

2. Minister of Construction:

a) Continue to closely coordinate with the National Assembly Committees to complete the draft Law on Housing (amended), the draft Law on Real Estate Business (amended) to submit to the National Assembly for consideration and approval at the 6th Session to ensure feasibility, promptly remove difficulties and obstacles, promote the development of a public, transparent, safe, healthy and sustainable real estate market; Urgently develop and complete draft documents detailing and guiding the implementation of the Laws, especially regulations on the order and procedures for implementing commercial housing projects, social housing, and new urban areas to ensure they take effect simultaneously with the Laws, avoiding legal gaps.

b) Promote the role and responsibility of the Head of the Prime Minister's Working Group, the Working Group's activities should be more drastic, stronger, and more comprehensive, promptly provide guidance, remove difficulties and obstacles, and speed up the implementation of real estate projects, especially large housing, urban, and industrial park projects with spillover effects; promptly advise and propose to competent authorities to amend, supplement, and perfect mechanisms and policies to promote decentralization, authorization, reduce administrative procedures, remove barriers, and speed up the implementation of real estate projects nationwide.

c) Focus on directing, urging, and guiding localities and enterprises to accelerate the implementation of 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 of 2021-2030", in which it is necessary to develop a specific implementation plan for investment in the construction of social housing for each year from now until 2030 in accordance with the requirements and conditions of each locality, periodically summarize and report to the Prime Minister on the implementation results every quarter.

d) Urge localities to review, plan, and allocate land funds for the development of social housing in urban areas and housing for workers in accordance with legal regulations; Strictly implement regulations on allocating land funds for social housing and ensure a reasonable ratio between the development of commercial housing and social housing in the area.

3. Governor of the State Bank of Vietnam:

a) Direct commercial banks to continue promoting credit lending to the real estate sector; Have appropriate solutions to reduce costs to reduce interest rates; Continue to review and further reduce inappropriate, cumbersome and costly administrative procedures so that businesses, real estate projects and home buyers can access credit sources more conveniently. Have special credit promotion policies for feasible real estate projects with fast implementation progress, creating momentum for growth and promoting the real estate market.

b) Take the lead and closely coordinate with the Ministry of Construction to carefully review the procedures and conditions for favorable and open lending, control and accelerate the implementation of the 120,000 billion VND credit program for preferential loans for the development of social housing, workers' housing, and the renovation and reconstruction of old apartments. Direct commercial banks to promptly guide credit loan procedures for projects that have been announced as eligible and in need of loans for both investors and home buyers of the 120,000 billion VND credit program.

4. Minister of Natural Resources and Environment:

a) Urgently complete and submit to competent authorities for consideration and promulgation of the Decree amending and supplementing Decree 44/2014/ND-CP dated May 15, 2014 regulating land valuation methods in October 2023.

b) Continue to invest efforts and closely coordinate with the National Assembly Committees and relevant agencies to complete the draft Land Law (amended) to ensure consistency with the draft Housing Law (amended) and the Law on Real Estate Business (amended).

c) Promptly guide localities to resolve problems related to land allocation, land lease, land price determination, planning, and annual land use plans, especially at the district level; Propose solutions to remove difficulties for the real estate market under the management field for arising issues that exceed authority.

5. Chairman of People's Committee of provinces and centrally-run cities:

a) Urgently complete the establishment, adjustment and supplementation of local housing development programs and plans, especially the establishment and approval of timely and effective plans and specific implementation for investment in social housing projects each year from now until 2030 according to the targets assigned by the Prime Minister in the Project; Quarterly report the implementation results to the Ministry of Construction for synthesis and reporting to the Prime Minister.

b) Review and compile statistics on the number of real estate projects being implemented in the area; Actively classify projects facing difficulties and obstacles; Actively and proactively work directly with each enterprise and each project facing difficulties or slow implementation to clearly identify the causes and promptly resolve difficulties and obstacles within the authority; Synthesize difficulties and obstacles beyond the authority and send them to the Prime Minister's Working Group for consideration and resolution or report to competent authorities for timely and effective consideration and decision.

c) Accelerate the establishment and approval of planning, especially construction planning and urban planning, as a basis for implementing synchronous and modern real estate projects, paying attention to arranging social housing projects and housing for independent workers in suitable, convenient locations with full technical and social infrastructure. Publicly announce the list of real estate projects that must select investors through bidding so that businesses have full information, proactively research, and register to participate in investment in a public and transparent manner.

d) Directing competent authorities to speed up the settlement of investment, construction, land allocation, land price determination procedures, and promptly implement real estate projects, with priority given to accelerating the progress of industrial real estate projects, social housing, and housing for workers. Resolutely not allowing the situation of evasion, shirking of responsibility, delay, harassment, and negativity in settling administrative procedures to affect the progress of real estate projects.

d) Direct the Department of Natural Resources and Environment, the Department of Finance and relevant agencies to focus on resolving and removing obstacles and delays in land allocation, land lease and land price determination. Review and decide on land prices within authority, in accordance with legal regulations and be responsible to the Prime Minister if delays occur, affecting the progress of investment projects.

6. The Government Office regularly monitors, urges, and inspects ministries, agencies, and localities in performing the tasks assigned in this Official Dispatch, and promptly reports to the Prime Minister on the situation and results of implementation.

The Prime Minister requested relevant ministries, branches, localities and agencies, according to their assigned functions, tasks and authorities, to proactively and actively perform the tasks assigned in this Official Dispatch, continue to create positive changes and promote the safe, healthy and sustainable development of the real estate market, associated with promoting the effective implementation of the Project "Investing in the construction of at least 1 million social housing units for low-income people and industrial park workers in the 2021-2030 period"./.

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