Government task force removes difficulties for more than 400 real estate projects in Hanoi

That is the information given by Mr. Hoang Hai - Director of the Department of Housing and Real Estate Market Management, Ministry of Construction - at the Forum "Forecasting the recovery time of the real estate market and investment recommendations" on the morning of September 28.

According to Mr. Hai, the Government 's working group has received 130 documents reporting difficulties related to 180 projects nationwide, has processed 119 documents and the Ministry of Construction has issued 35 guidance documents.

As a result, Ho Chi Minh City has now resolved 180 stuck projects related to 30 contents sent to the working group and the Department of Construction, resolving 67 projects.

In Hanoi, 419 projects were resolved, equivalent to 58.8% of the initial 712 projects, and the team is directing the resolution of 293 projects.

In Hai Phong, Da Nang, Can Tho, Dong Nai, Binh Thuan, difficulties for projects are also being removed.

Regarding the project to build 1 million social housing apartments, 41 projects have been completed with a scale of 9,416 apartments, 294 projects are continuing to be implemented with a scale of 288,499 apartments.

Regarding the 120,000 billion disbursement package, the People's Committees of the provinces are considering announcing 40 projects, with a total loan demand of 18,000 billion. Currently, the Departments of Construction have completed reviewing 24 projects with a demand of 12,000 billion, and the decision on whether to borrow or not will be further considered by the State Bank.

Mr. Hoang Hai - Director of Department of Housing and Real Estate Market Management, Ministry of Construction.

Mr. Hai also emphasized that real estate is one of the important sectors of the economy, closely related to many other industries and professions. According to statistics, the direct and indirect contribution of the real estate industry to the economy is about 14%.

" The characteristics of the current market are: The legal system related to real estate is not yet synchronized, and localities have solved about 70%. Meanwhile, supply is decreasing but prices are not reasonable, there is a lack of housing for workers and low-income people. In addition, purchasing power is poor and access to capital is very difficult, " said Mr. Hai.

Mr. Hai noted three main issues of the current real estate market, which are policy mechanisms, capital and implementation.

First of all, there are legal problems, especially those related to difficulties in land funds, site clearance, land price determination, and land auctions. In addition, there are legal problems related to planning, such as detailed planning that is not consistent with higher-level planning. Or related to investment laws, conditions for buying social housing are still complicated...

Regarding capital difficulties: there are currently tens, hundreds of thousands of billions of dong in bonds issued and need to be repaid by the end of this year. Regarding local management, there are also many shortcomings and a fear of responsibility.

Finally, some inaccurate information about finance, credit, bonds, and stocks is widespread, leading to people being afraid to wait and see, switching to other investment channels, negatively affecting the real estate market.

Therefore, after identifying the problems, the Government issued Resolution 33 to remove difficulties and develop a healthy and safe market. As a result, the Government has drafted the Land Law, Housing Law, and Real Estate Business Law for the National Assembly. The Government has issued Decree 08 on bond offering and Decree 10 on pink books for condotels.

Within the authority of ministries, the Ministry of Construction has issued Circular 03, the State Bank has also issued a series of documents, reducing interest rates 4 times, from 1.5 - 2%, the Ministry of Natural Resources and Environment has also issued Circular 02 related to land use right certification.

" In order for the policies, solutions and measures proposed by the Government, Prime Minister, Ministry of Construction and other departments to achieve the expected results, it takes time and requires the participation and coordination between departments at all levels. Along with that is the support and consensus of the people, considering this an urgent and important task, whichever agency has the authority, that agency must be responsible for solving it, " Mr. Hai emphasized.

Chau Anh

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