Request to complete inspection of problems at Novaland project before April 20

The Government Office has just issued Notice No. 133 on the conclusion of Deputy Prime Minister Tran Hong Ha at the working session with the Prime Minister's Working Group on resolving difficulties and obstacles in implementing real estate projects.

The conclusion announcement clearly stated that the real estate market plays an important role in the economic "ecosystem": Industry, services, tourism, accommodation, material production, finance, banking, etc., affecting the production chain such as materials, iron and steel, household appliances, capital markets, credit, labor markets, and affecting macroeconomic stability.

Therefore, the Deputy Prime Minister requested the Working Group and ministries, branches and localities to focus on implementing the Government's direction in Resolution No. 33 on a number of solutions to remove obstacles and promote the safe, healthy and sustainable development of the real estate market and the Prime Minister's direction in Official Dispatch No. 178.

In particular, the Deputy Prime Minister requested the Working Group to focus on completing the inspection work in Dong Nai and Binh Thuan provinces, areas with many recommendations from enterprises sent to the Government, the Prime Minister, and the Working Group such as Novaland, Dai Phuoc Ecological Urban Area, Long Tan Tourist Urban Area, etc., requiring completion before April 20, 2023.

Real Estate - Request to complete inspection of problems at Novaland project before April 20 — Deputy Prime Minister Tran Hong Ha worked with the Prime Minister's Working Group on resolving difficulties and obstacles in implementing real estate projects.

In addition, the Deputy Prime Minister assigned the Ministry of Construction to preside over determining the list of projects, subjects, conditions, and criteria to benefit from the Credit Program of about 120,000 billion VND according to Resolution 33 dated March 11, 2023; at the same time, it will serve as a basis for localities to identify and announce social housing projects, worker housing projects, renovation projects, and reconstruction of old apartment buildings, ensuring publicity, transparency, and compliance with regulations.

Develop criteria for evaluating and classifying real estate segments based on potential (industry, tourism, commercial services), market liquidity as a basis for credit institutions to consider loosening lending conditions without equating policies with risky projects issued in April 2023.

The Ministry of Construction shall preside over and coordinate with the Ministry of Planning and Investment to guide localities in removing difficulties in applying planning when approving project investment policies.

The State Bank of Vietnam issued a Circular regulating the restructuring of debt repayment terms and criteria for assessing customer capacity to support customers in resolving difficulties and contributing to the development of investment, production and business activities before April 25, 2023.

Direct commercial banks to base on the list of projects, subjects, conditions and criteria to benefit from the Credit Program of about 120,000 billion VND of the Ministry of Construction according to Resolution No. 33 to apply lending conditions and establish risk reserve funds, not to equate among enterprises.

At the same time, strengthen inspection and urge credit institutions to implement solutions to support and promote the development of the real estate market .

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