More than 28 trillion VND (1.25 billion USD) was disbursed from the 30 trillion VND housing stimulus package up till the end of August, according to the Ministry of Construction.
A view of a social housing project (photo: vietnamnews.vn)
Hanoi (VNA) - More than 28 trillion VND (1.25 billion USD) was disbursed from the 30 trillion VND housing stimulus package up till the end of August, according to the Ministry of Construction.
The disbursed amount accounted for more than 86 per cent of the total amount that banks had committed to lend, or 32.8 billion (VNA).
Banks committed to provide cheap loans from the housing stimulus package to 56,181 households and individuals, worth 27.48 trillion VND. Till date, 51,235 households have received disbursements worth 22.98 billion VND in total.
For social housing developers, banks signed contracts to provide loans to 51 projects, all of which received the disbursement of cheap loans.
ꦗ The construction ministry said social housing supply mainly came from projects which started construction at the beginning of this year. Supply was, however, still below demand.
🌼 Launched in June 2013, the credit package offers loans with a maximum interest rate of 5 percent to individual borrowers for no longer than 15 years.-VNA
Individuals purchasing commercial houses worth 1.05 billion VND (50,000 USD) or less in urban projects that authorities have approved are entitled to financial assistance from the national real estate bailout programme.
The Ministry of Construction has asked the State Bank of Vietnam (SBV) to extend the terms of the government’s 30 trillion VND (1.3 billion USD) property support package.
The Ministry of Construction has asked Hanoi and Ho Chi Minh City to formulate policies that promote social housing development amid a rising demand from citizens for products in this segment.
Deputy Prime Minister Trinh Dinh Dung has asked ministries and authorities to speed up the building of social housing in industrial and economic zones nationwide.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
A view of a social housing project (photo: vietnamnews.vn)
