Government directs to remove difficulties for the real estate market in Vietnam? Submit to the Government of Vietnam for promulgation a Decree on land pricing before June 30?
How does the Government direct to remove difficulties for the real estate market in Vietnam?
The Government of Vietnam has just issued Official Telegram No. 469/CD-TTg in 2023 on dismantling and promoting the safe, healthy and sustainable development of the real estate market.
According to that, regarding the current real estate market situation, the Official Telegram stated as follows:
The real estate market plays an important role in the economic "ecosystem" and is directly related to many economic sectors, affecting macroeconomic stability, growth, social security and employment.
Good management and development of the real estate market will create favorable conditions for attracting investment, mobilizing great internal resources, and contributing to promoting the country's socio-economic development.
However, over the past time, the real estate market has faced many difficulties due to objective reasons such as epidemics, market growth cycle, reduced economic growth, market difficulties.
Besides, the main reasons are subjective, such as:
- Making, approving and adjusting the planning is still slow; adjustment of investment projects still facing problems;
- Slow and prolonged project implementation;
- Access to credit capital, bond capital and securities is still difficult;
- Unsatisfactory social housing, renovation and reconstruction of apartment buildings;
- Determination of land prices;
- Some localities are not proactive and drastic in directing and solving difficulties and problems according to their competence, as well as in coordination with central agencies to solve difficulties;
- Market information is not transparent enough;
- The structure of real estate products is not reasonable;
- The law is still overlapping, the application of the law is still inconsistent and synchronous.
Faced with that situation, the Prime Minister requested agencies and units to perform the tasks of removing and promoting the safe, healthy and sustainable development of the real estate market.
Government directs to remove difficulties for the real estate market in Vietnam? Submit to the Government of Vietnam for promulgation a Decree on land pricing before June 30?
How does the Government of Vietnam request the implementation of the VND 120 trillion credit program?
According to the contents of Official Telegram No. 469/CD-TTg in 2023, for the State Bank of Vietnam, the Government has set a number of key tasks as follows:
- Continue to urge and direct credit institutions to reduce costs to reduce deposit and lending interest rates on the basis of ensuring production, business, efficiency and timely promotion of credit expansion in line with the trend of decreasing inflation and requirements to promote production and business development; creating favorable conditions for real estate project investors and home buyers to access credit capital.
- Preside over and coordinate in implementing the VND 120 trillion credit program, of which the main ones are 04 state-owned commercial banks according to Resolution No. 33/NQ-CP in 2023 and directing other joint-stock commercial banks actively participate in the implementation of the Project "Investing in the construction of at least 01 million social housing apartments for low-income subjects and industrial park workers in the period of 2021 - 2030".
- Organize the implementation and closely monitor the implementation of credit institutions and foreign bank branches to restructure debt repayment terms and maintain debt groups in order to support customers in difficulty and to determine the purchase and sale of corporate bonds by credit institutions and foreign bank branches, in order to promptly guide and remove arising problems (if any).
- Strengthen inspection and urge credit institutions to implement solutions to support and promote the development of the real estate market.
- Preside over, coordinate to propose solutions to remove difficulties for the real estate market in the field of management, for problems that arise, beyond their authority.
Thus, in solving difficulties for the real estate market, the State Bank of Vietnam has 05 key tasks mentioned above. In particular, the responsibility is to create favorable conditions for real estate project investors and home buyers to access credit capital.
Submit to the Government of Vietnam for promulgation a Decree on land pricing before June 30?
At Official Telegram No. 469/CD-TTg in 2023, the following contents were also mentioned:
As for the responsibilities of the Ministry of Natural Resources and Environment, Official Telegram No. 469/CD-TTg in 2023 identifies the Ministry of Natural Resources and Environment to direct, urge and guide localities to remove difficulties and obstacles in land pricing, planning, annual land use plan, especially at the district level, and the implementation of compensation and site clearance.
In addition, it is necessary to urgently perform the following tasks:
- Advise and submit to the Government of Vietnam for promulgation the Decree amending and supplementing Decree No. 44/2014/ND-CP on land prices; building and adjusting land price brackets and land price lists; specific land pricing and land price determination consultancy activities according to the simplified procedures before June 30, 2023.
- Review the shortcomings and problems of Circulars, especially Circular No. 36/2014/TT-BTNMT on land pricing methods.
- Urge localities to urgently issue specific regulations according to their competence to effectively implement the provisions of the law on land before June 16, 2013.
- Direct and guide localities to remove difficulties and obstacles in equitizing enterprises to change land use purposes for project implementation; transfer of land use right with infrastructure to people in projects located in the wards of special urban centers and grade I urban centers before June 30, 2023.
- Propose solutions to remove difficulties for the real estate market in the field of management for problems arising, beyond the authority.
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