Prime Minister Pham Minh Chinh on June 2 chaired a conference to implement the National Assembly's Resolution 201/2025/QH15 on piloting special mechanisms for social housing development and review progress in the first five months of 2025.
The resolution on piloting a number of special mechanisms and policies aimed at accelerating the development of social housing is set to take effect on June 1, 2025.
Lawmakers are examining a draft resolution on piloting several mechanisms and policies to accelerate the construction of the affordable houses while creating more favourable investment conditions for private enterprises entering the segment.
Based on the political trust between Vietnam and Kenya, President Cuong proposed that both sides strive to realise huge potential in areas of mutual strength, particularly investment, trade, agriculture, and tourism.
Minister of Construction Nguyen Thanh Nghi held talks with Minister of Land, Infrastructure and Transport of the Republic of Korea (RoK) Park Sanwoo in Hanoi on July 16, during which the two ministers inked a memorandum of understanding (MoU) on cooperation between the two ministries in urban and social housing development.
Prime Minister Pham Minh Chinh has emphasised the need to diversify resources for social housing development, from the State, the public, society and financial institutions, in order to provide support for both sellers and buyers.
The Ministry of Construction will focus on removing legal bottlenecks for the real estate market and promoting social housing developments in the second half of this year.
Under a new initiative approved by Deputy Prime Minister Tran Hong Ha, at least one million homes will be built for low-income and industrial park workers by 2030.
The Government's latest real estate legislation went into effect on March 11 aiming to reinvigorate the sluggish realty market, which has been mired in a severe imbalance of supply and demand.
Deputy Prime Minister Tran Hong Ha has requested promptly tackling obstacles in social housing development policies and mechanisms, with incentives in infrastructure, land and finance for developers engaged in the effort.
Workshops sharing experience in social housing development of the Republic of Korea (RoK) and policy improvements in Vietnam will be held in major cities of HCM City, Da Nang and Hanoi in the coming time, according to the Ministry of Construction (MoC).
The Ministry of Construction has proposed short- and long-term measures to ease the difficulties facing the country’s real estate market, with social housing development to drive the market forward.
The southern province of Binh Duong has proposed the Government allow it to keep some of the money gained from the equitisation of local State-owned enterprises to fund the development of housing for low-income earners, including workers at industrial parks.
Social housing development not only improves societal strength but also boosts the economy overall, said Minister of Construction Pham Hong Ha, emphasising that Government spending on social housing can lift the real estate industry as a whole.
