### Improving Social Housing in Vietnam: Key Policy Initiatives
Vietnam is facing a significant challenge in providing adequate social housing for its citizens, and recent governmental meetings have emphasized the urgency of this issue. Prime Minister Phạm Minh Chính recently chaired the third meeting of the National Steering Committee on Housing and Real Estate Market Policy, where he stressed the need for improved discipline and transparency in the development of social housing.
### Prioritizing Accessibility and Affordability
During the meeting, PM Chính highlighted the importance of ensuring that citizens have quick, affordable, and convenient access to social housing. The focus is on minimizing excessive procedures, unreasonable costs, and risks of fraud, fostering a system that prioritizes the needs of the people rather than bureaucratic hurdles. This approach is crucial as Vietnam embarks on a national project aimed at developing one million social housing units by 2030.
### Current State of Social Housing Projects
As of now, Vietnam has 696 social housing projects underway, with over 637,000 units planned. Among these, approximately 128,600 units have already been completed. Localities are actively working to designate favorable sites near urban centers or industrial zones, ensuring that essential technical and social infrastructures are in place to support these developments.
### Local Achievements and Challenges
Data from the Ministry of Construction reveals that around 17 localities are on track to meet or exceed their social housing targets by 2025. Notable cities include Hà Nội, HCM City, and Đà Nẵng. However, there is a stark contrast as 13 localities, including Cần Thơ and Lạng Sơn, are unlikely to meet these targets, highlighting the disparities in regional development efforts.
### Discussing Bottlenecks in Development
The steering committee’s discussions centered around various challenges, including investment procedures, land allocation, credit packages, and funding for social housing projects. This review also aimed to identify and address signs of misconduct in the approval, sale, or rental of social housing, underscoring the need for rigorous oversight.
### Call for Transparency and Simplification
To combat the aforementioned issues, the National Steering Committee has emphasized simplifying investment procedures and enhancing transparency regarding land plots and contractor selection. These measures are essential to establish a fair and effective real estate market environment.
### Social Housing as a Humanitarian Initiative
The primacy of social housing development as a humane policy was reiterated by PM Chính. The government’s goal is to ensure that every citizen has a right to housing, effectively preventing anyone from being left behind in the nation’s development journey. This holistic approach aims to promote not only social housing but also a healthy real estate market, contributing positively to macroeconomic stability.
### Role of Various Stakeholders
PM Chính urged ministries, local authorities, businesses, and investors to proactively engage in creating a sustainable real estate and social housing market. They must address obstacles swiftly, with issues beyond their jurisdiction being escalated for higher-level intervention.
### Efficiency in Verification Processes
A significant challenge identified is the verification of eligibility for social housing. The Prime Minister has called for a more efficient process that reduces upfront checks while increasing post-verification measures. Local police will play a key role in verifying the status of informal workers seeking social housing opportunities.
### Simplifying Application Procedures
Making application procedures user-friendly is a priority. PM Chính advocates for a simplified application process for social housing that can be easily completed online or in person. This step is crucial in encouraging broader participation from citizens who are eligible for social housing.
### Encouraging Collaboration Between Sectors
Businesses with available land have been urged to collaborate with local authorities in developing social housing projects. This collaborative spirit aims to foster affordable housing solutions that are accessible to all citizens, emphasizing national solidarity in addressing housing needs.
### Maximizing Funding for Housing Development
The Government plans to maximize funding sources for housing development, particularly in social housing. This includes leveraging central and local budgets and facilitating loans for individuals renting or purchasing housing units.
### Redefining Legal Frameworks
The Ministry of Construction has been tasked with reviewing and refining legal frameworks to eliminate current bottlenecks hindering social housing development. This includes revising planning criteria and establishing standardized procedures for social housing investment.
### Establishing a Transaction Center for Transparency
To enhance transparency in the housing market, a transaction center for real estate and land use rights will be established under state management. This center is aimed at promoting fair practices and preventing misconduct in housing transactions.
### Accelerating Credit Support for Housing
To support social housing initiatives, the State Bank of Vietnam is accelerating the disbursement of a credit program amounting to VNĐ145 trillion (approximately $5.5 billion). The Prime Minister emphasized the importance of ensuring that these funds are distributed under less stringent conditions to facilitate access.
### Conclusion
By systematically addressing the barriers to social housing and implementing robust policies, Vietnam aims to create a fair and sustainable housing environment. This multifaceted approach, involving collaboration among various stakeholders, aims to foster an inclusive real estate market that benefits all citizens.