Prime Minister issues telegram to promote real estate market

Telegrams sent to the Ministers of Construction; Natural Resources and Environment; Governor of the State Bank of Vietnam; Chairmen of People's Committees of provinces and centrally-run cities, clearly stated:

Since the end of 2022, the Government and the Prime Minister have issued many directives to synchronously implement policies, tasks, and solutions to remove difficulties for the real estate market, especially difficulties and obstacles related to law and capital sources. Thereby, the real estate market has changed in a positive direction.

However, businesses and the market still face many difficulties and problems related to legal procedures, credit access, especially land allocation, land lease, and land price determination procedures, so the real estate market still faces many difficulties. To continue promoting the safe, healthy, and sustainable development of the real estate market, contributing to socio-economic development, the Prime Minister requests:

Ministers, heads of ministerial-level agencies, relevant agencies, Chairmen of People's Committees of provinces and centrally-run cities and enterprises must be more determined, more responsible, proactive in organizing and implementing drastically and effectively the tasks and solutions assigned by the Government and the Prime Minister in the Government's Resolutions, Official Dispatches, Decisions and Directive Documents of the Prime Minister. Ministries, branches and localities must consider this as one of the urgent and important tasks that need to be focused on resolving according to the principle that the problem under the authority of which level must be resolved, absolutely not avoiding, pushing, fearing mistakes and fearing responsibility.

The Minister of Construction urgently develops and completes draft documents detailing and guiding the implementation of the Housing Law (amended) and the Real Estate Business Law (amended), especially regulations on procedures for implementing commercial housing projects, social housing projects, and new urban areas to ensure they take effect simultaneously with the laws and avoid legal gaps.

Continue to promote the role and responsibility of the Head of the Prime Minister's Working Group, the Working Group's activities will be more drastic, stronger, more comprehensive, promptly guide and remove difficulties and obstacles in legal procedures, speed up the implementation of real estate projects, especially housing projects, large urban areas, industrial parks with spillover effects; accelerate decentralization, authorization, and cut unnecessary administrative procedures. Strengthen inspection and examination of the settlement of administrative procedures related to real estate projects, resolutely handle cases that cause difficulties, inconveniences, and roundabout handling that cause delays for people and businesses.

Actively speed up the progress of handling administrative procedures under the authority related to real estate projects, especially procedures for establishing, appraising, and approving construction planning, urban planning, procedures for appraising design documents, and procedures for checking acceptance work.

Continue to monitor, direct, urge and guide localities and enterprises to promote the development of social housing, further promote the implementation of the Project "Investing in the construction of at least one million social housing apartments for low-income people and industrial park workers in the period 2021 - 2030".

Propose new and more effective solutions to strongly promote disbursement for social housing, report to the Prime Minister before December 31, 2023.

The Minister of Natural Resources and Environment continues to closely coordinate with the National Assembly Committees and relevant agencies to complete the draft Law on Land (amended) to ensure quality, promote decentralization, reduce unnecessary administrative procedures, remove practical obstacles and difficulties, and synchronize with the draft Law on Housing (amended) and the Law on Real Estate Business (amended).

Immediately establish specialized Working Groups to urge and guide localities, especially in large cities such as Hanoi, Ho Chi Minh City, Da Nang, etc., to resolve problems related to land allocation, land lease, land price determination, planning, and annual land use plans; review and promptly handle problems within their authority or propose competent authorities to handle problems beyond their authority.

Strengthen inspection and examination of procedures for determining land prices for real estate projects, promptly detect and resolutely handle cases that cause difficulties, inconveniences, and roundabout handling that cause delays.

The Governor of the State Bank of Vietnam continues to closely monitor developments in the real estate market and real estate credit to find solutions to remove difficulties in credit growth for production and business, promote growth, and ensure macroeconomic stability.

Directing to continue reviewing and finding practical and effective solutions to promote credit lending to real estate enterprises; strengthening direction, urging and guiding commercial banks so that enterprises, real estate projects and home buyers can access credit sources more conveniently, promptly resolving difficulties in capital and cash flow.

Continue to thoroughly research and find feasible solutions to drastically and effectively implement the VND 120,000 billion credit program for preferential loans to develop social housing, workers' housing, and renovate and rebuild apartment buildings according to the direction of the Prime Minister in Official Dispatch No. 6745/VPCP-CN dated August 31, 2023.

Chairmen of People's Committees of provinces and centrally run cities direct competent agencies to focus on further accelerating the progress of investment procedures; land allocation and lease; land price determination; early implementation of real estate projects, with priority given to accelerating the progress of industrial real estate projects, social housing, and workers' housing. Urgently disseminate to each unit, cadre, civil servant, and public employee to seriously implement the Prime Minister's instructions in Official Dispatch No. 280/CD-TTg dated April 19, 2023; resolutely not let the fear of being wrong, avoidance, and shirking of responsibility affect the progress of real estate projects.

Review, compile and summarize the list of real estate projects being implemented in the area; focus on classifying and identifying legal difficulties, causes and competent authorities to resolve; Direct competent authorities to focus on thoroughly handling and immediately considering and deciding on difficulties within their authority, especially difficulties in land allocation, land lease and determining specific land prices.

Quarterly, synthesize the results of handling and removing difficulties and obstacles for projects in the area according to authority and obstacles beyond authority and send them to the Prime Minister's Working Group, and also send them to the Prime Minister for direction, consideration and resolution.

Direct the Department of Natural Resources and Environment, the Department of Finance and relevant agencies to organize land valuation according to their authority and be responsible to the Prime Minister if there are any delays that affect the progress of investment projects. In case of any problems, please send a written document to the Ministry of Natural Resources and Environment for timely guidance and resolution.

Speed ​​up the establishment and approval of planning, especially construction planning and urban planning as a basis for implementing projects, especially affordable commercial housing projects, paying attention to planning for the development of social housing and worker housing projects. Publicize and introduce land funds for investment in social housing construction, publicly announce the list of real estate projects that must select investors through bidding so that businesses have full information, proactively research, register to participate, and propose investment in a public and transparent manner.

Focus on effectively implementing the Project "Investing in the construction of at least one million social housing apartments for target groups in the period 2021 - 2030" and the VND 120,000 billion credit program for projects to build social housing, housing for workers, renovate and rebuild apartment buildings. If there are any legal problems under the authority of any person or agency, then propose that level and the person responsible for handling them.

The Prime Minister assigned Deputy Prime Minister Tran Hong Ha and Minister Nguyen Thanh Nghi to be responsible for directing, urging, inspecting, and reporting to the Prime Minister on the implementation of the Official Dispatch; assigned the Government Office to monitor, synthesize, urge, inspect, and propose handling of any problems or violations.

The Prime Minister requested relevant ministries, branches, localities and agencies, according to their assigned functions, tasks and authorities, to proactively and actively carry out more drastically and effectively the tasks assigned in this Official Dispatch.