HCM City (VNA) – The People’s Committee of Ho Chi Minh City held aconference on November 7 to help local real estate enterprises solvedifficulties.
Le Hoang Chau, President of the Ho Chi MinhCity Real Estate Association, said the local property market faces severalbottlenecks affecting enterprises’ business and investment activities,including approval of investment intentions, ground clearance, land use feess,project acquisition, using land funds to pay for Build-Transfer (BT) contracts,and credit and financial procedure issues.
The slow settlement of these bottlenecks isone reason for the significant decrease in the supply of real estate productsin 2018, which is forecast to continue reducing in 2019, Chau affirmed.
At the event, local enterprises shareddifficulties facing them during project implementation.
Chairman of the municipal People’s CommitteeNguyen Thanh Phong admitted that there remain several difficulties facing localproperty firms, including overlaps of legal regulations, credit crunch and longinspections by the Government Inspectorate.
Regarding the granting of certificates onland use rights, Phong assigned the municipal Department of Natural Resourcesand Environment to pay more attention to this matter.
He said that Vice Chairman of the localPeople’s Committee Tran Vinh Tuyen and Director of Construction Department TranTrong Tuan are slated to chair monthly meetings with firms to help them solvedifficulties as soon as possible.-VNA
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Illustrative photo (Photo: VNA) 
