How much of the 120,000 billion VND preferential credit package for social housing has been disbursed?

Accordingly, 34/64 provinces and cities have issued documents announcing eligible projects and banks have disbursed VND1,344 billion for this credit package. This includes VND1,295 billion for investors in two projects and VND49 billion for home buyers in five projects.

“The preferential credit package has an interest rate 1.5-2% lower than the average medium- and long-term interest rate of commercial banks. Currently, the State Bank is consulting with ministries, departments and branches to adjust some contents of the 120,000 billion VND package, and at the same time reduce the interest rate according to Resolution 33 for home buyers by 3-5%, while for investors, the support level remains at 1.5-2%,” said Deputy Minister Bui Xuan Dung.

Mr. Dung also informed that, in the regular Government meeting on the morning of August 5, Prime Minister Pham Minh Chinh agreed with the State Bank's proposal and requested the State Bank to promptly complete and submit for approval the Resolution adjusting the content of the VND120,000 billion package.

The Ministry also continues to direct and inspect the construction of social housing to ensure quality, adequate technical infrastructure, social infrastructure, and essential services such as commercial housing, while encouraging the development of social housing with a green and sustainable model.

“Localities should base on the actual situation to have specific mechanisms and solutions to shorten the time for project approval, land allocation, land lease, and site clearance to help businesses implement project investment to create investment resources for social housing.

Focus on urging investors who have started construction to complete and put into use soon, and at the same time request projects to continue selecting investors to start construction soon. Request Hanoi and Ho Chi Minh City to enhance responsibility in leadership and direction in attracting and accelerating the construction and development of social housing to ensure the goals set out in the project.Mr. Dung emphasized.

According to the Deputy Minister of Construction, as of July 30, according to the summary reports of localities in the period from 2021 to present, nationwide there have been 619 social housing projects implemented with a scale of 561,816 units.

Of which, the number of completed projects: 79 projects with a scale of 40,679 apartments. The number of licensed and started construction projects: 128 projects with a scale of 111,688 apartments. The number of projects approved for investment policy: 412 projects with a scale of 409,449 apartments.

In the first 6 months of 2024 alone, the number of completed projects was 8 projects (4 projects fully completed, 4 projects partially completed) with a scale of 3,136 units; the number of projects licensed to start construction was 5 projects with a scale of 8,468 units; the number of projects with investment policies was 9 projects, with a scale of 8,795 units.

According to the project of 1 million apartments by 2030 assigned in Resolution No. 01 of the Government on January 5, 2024, striving to complete about 130,000 apartments with 8 projects of about 3,100 apartments completed in the first 6 months of 2024, nearly 100,000 apartments need to be completed in 2024.

According to the Ministry of Construction, this is a huge progress pressure, requiring the participation of all levels, ministries, departments, branches and localities.