To urgently issue Decree guiding the Law amending Law on Investment in Vietnam in April 2023

To urgently issue Decree guiding the Law amending Law on Investment in Vietnam in April 2023

The Government of Vietnam assigns the Ministry of Planning and Investment of Vietnam to urgently review, study, formulate, and submit to the Government of Vietnam for consideration and issuance of the "Decree amending and supplementing the Decree detailing and guiding the implementation of certain articles of the Law on Investment" through the expedited process in April 2023.

At the same time, enhance inspection, direction, urging, and guidance for localities and enterprises on the legal regulations concerning investment and bidding to resolve difficulties and obstacles in approving and adjusting investment policies and bidding on real estate projects.

Research and perfect institutions and policies to mobilize and maximize financial resources both domestically and internationally for the development of social housing in particular and the real estate market in general, especially housing for middle-income individuals and those with genuine housing needs.

Publicize and introduce the land fund for social housing investment to enterprises.

In addressing difficulties in building social housing and worker accommodations, the Government of Vietnam assigns the Chairpersons of the People's Committees of provinces and centrally-run cities to publicize and introduce the land fund for social housing investment to enterprises for research and investment proposals.

Additionally, the Government of Vietnam also assigns the Chairpersons of the People's Committees of provinces and centrally-run cities to implement the following contents:

- Seriously implement Resolution 33/NQ-CP dated March 13, 2023, on several solutions to remove bottlenecks and promote the safe, healthy, and sustainable development of the real estate market and report to the Prime Minister on the implementation results as required in Official Dispatch 1794/VPCP-CN dated March 20, 2023.

- Implement the legal provisions on planning, announcing plans, allocating land funds in accordance with planning, land use plans, construction plans, and housing development programs, and plans for developing social housing.

- Review and strictly implement the regulation on allocating 20% of the land fund with technical infrastructure invested in commercial housing projects and urban areas to develop social housing in accordance with housing laws.

- Plan and designate independent social housing and worker housing projects in suitable, convenient locations with large-scale, complete technical, and social infrastructure, especially in major cities such as Hanoi and Ho Chi Minh City of Vietnam.

- Allocate land and call for industrial zone infrastructure investors, manufacturing enterprises, and real estate enterprises to participate in investing and developing worker housing and accommodations for rent in industrial zones and economic zones as stipulated in Decree 35/2022/ND-CP on the management of industrial zones and economic zones.

More details can be found in Official Telegram 194/CD-TTg issued on April 1, 2023.

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