To strictly handle officials who are negligent and disruptive when performing official duties on land in Vietnam

To strictly handle officials who are negligent and disruptive when performing official duties on land in Vietnam (Internet image)

The Government issued Resolution 33/NQ-CP on March 11, 2023, stipulating a number of solutions to remove and promote the safe, healthy and sustainable development of the real estate market.

1. To strictly handle officials who are negligent and disruptive when performing official duties on land in Vietnam

The Prime Minister of Vietnam has agreed to direct all levels, branches, and localities as follows: strictly handle the state of cadres being negligent, failing to fulfill their responsibilities, fearing responsibility, and harassing in the performance of their official duties, especially in planning approval, the implementation of procedures for investment, licensing, bidding, and auction, and land and real estate valuation.

In addition, ministries, branches, and central and local agencies, according to their assigned functions, tasks, and competence, need to perform:

- Continue to urgently and strictly implement the tasks in Resolution 11/NQ-CP, Directive 13/CT-TTg; Dispatch 1156/CD-TTg; 1163/CD-TTg; 1164/CD-TTg; and Concluding Notice 242/TB-VPCP.

- Focus on elaborating and approving master plans, creating synchronization, unification, and stability in planning, and linking the development of industry, services, tourism, and infrastructure systems with urban development and housing projects to ensure a balance between supply and demand.

- Promote the review, classification, and handling of real estate projects that are having legal problems, have to stop operating, or cannot bring products to market due to legal problems to free up land resources, investment capital, and reduce the risk of bad debt credit.

- Continue to effectively implement solutions to support the real estate market in association with housing policies for policy beneficiaries, low-income people, and housing for workers.

Strengthen the research, analysis, and forecast of the market, especially the demand for industrial real estate, service real estate, and tourism, to ensure supply for the market, promote production development, create jobs, demand for housing by segments;

Facilitate access to capital for middle- and low-income housing segments to promote the self-adjusting market to meet demand.

- Direct, urge, and guide promptly to remove difficulties in implementing legal procedures for real estate projects.

- Promote the publication, publicity, and transparency of information, ensuring the effectiveness, timeliness, and true nature of the situation, avoiding false information; focus on propagating, disseminating, and publicizing the State's new policies, regulations, and solutions on credit, bonds, stocks, and the real estate market situation.

2. Tasks and solutions to promote social housing development in Vietnam

The Government formulates and proposes to the National Assembly to consider and issue a "Resolution of the National Assembly on piloting a number of policies to promote the development of social housing" to immediately remove a number of specific difficulties and obstacles and to create a driving force for the development of social housing in the coming time; in which special attention is paid to the content of major problems in recent years, such as:

- Regarding land allocation for investment in construction of social housing projects, planning and arrangement of land funds for social housing development, and the selection of investors in social housing projects; regarding benefits and incentives for investors; regarding the determination of selling prices, rental prices, and rental-purchase prices of social housing; regarding subjects and conditions for receiving social housing support...

- Urgently complete, promulgate, and effectively implement the Project "Invest in building at least 01 million social housing apartments for low-income people and industrial park workers in the period 2021-2030"

- Determine the investment and development of social housing for low-income workers is an investment item in the medium- and long-term capital sources of localities.

- Support capital for social housing development, it is proposed to implement a credit program of about VND 120,000 billion to lend to investors and home buyers of social housing projects, housing for workers, with an interest rate that is about 1.5–2% lower than the average VND medium and long-term lending rate of state-owned commercial banks in the market from time to time.

More details can be found in Resolution 33/NQ-CP dated 11/3/2023.

Vo Van Hieu

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