Hanoi (VNA) - Based on statistics reported by localities, the Ministry of Construction projects that over 100,000 social housing units will be completed nationwide in 2025.

Additionally, the average housing area per capita across the country is expected to reach 27 square metres of floor space, and the national urbanisation rate is targeted to reach at least 45%, heard the ministry’s conference on December 14.

On December 10, Prime Minister Pham Minh Chinh issued an official dispatch emphasising the urgent need to address obstacles hindering the progress of social housing projects, aiming to enhance the effectiveness of social housing development and meet the growing demands of people.

Localities were asked to strictly adhere to regulations mandating land allocation for workers' housing in industrial parks and reserving 20% of residential land with completed technical infrastructure in commercial and urban projects for social housing development.

Chairpersons of provincial and municipal People’s Committees were tasked with implementing the national project to build at least 1 million social housing units for low-income earners and industrial workers during the 2021–2030 period.

The Governor of the State Bank of Vietnam was required to work with relevant ministries and agencies to speed up the disbursement of the 120 trillion VND (4.7 billion USD) credit package for social housing and worker housing development.

Speaking at the conference, Chief of the Office of the ministry Ngo Lam said that one of the notable achievements in implementing the national project is the ministry's organisation of a meeting to carry out the project and assign specific targets to localities to complete 130,000 social housing units in 2024.

To date, 644 social housing projects have been launched nationwide, with a total of 580,109 units. Among these, 96 projects have been completed, providing 57,652 units; 133 projects are under construction, comprising 110,217 units; and 415 projects have received investment policy approval, with a total of 412,240 units.

Additionally, 16 projects have signed loan agreements under the 120 trillion VND credit programme to support social housing, with total committed credit allocation reaching 4.2 trillion VND, and the outstanding loan balance at 1.72 trillion VND.

Deputy Minister Nguyen Van Sinh commended Ho Chi Minh City for its efforts in addressing challenges faced by real estate projects, and organising investment promotion conferences. He also acknowledged the city's serious commitment to allocating 20% of its land fund for social housing, as required by regulations.

🦄 The Ministry of Construction will continue to work closely with localities to accelerate the implementation of social housing projects nationwide so as to better meet the growing housing demand of the people, Sinh affirmed./.