The draft resolution on piloting a number of special mechanisms and policies for developing social housing aims to attract businesses' investment in the construction of social housing and promote the development of this type of accommodation.
A project to construct at least a million apartments of affordable social housing for low-income earners and workers in industrial parks in the 2021 – 2030 period was approved by the Prime Minister.
Most young people are ambitious and have a long career path ahead of them to generate income and repay loans. Typically, within 10-15 years, their earnings will double or triple, making such loans low-risk for banks, said HoREA
Vietnam is now implementing the program on building at least 1 million social housing units for low-income earners and industrial park workers during 2021–2030.
The construction industry is estimated to expand at around 7.8- 8.2% this year, the highest rate since 2020, according to a Ministry of Construction report.
Individuals with a monthly income not exceeding 15 million VND, or married couples with a combined income not exceeding 30 million VND, are eligible for social housing support policies.
Prime Minister Pham Minh Chinh on March 16 urged the plan on building at least 1 million social housing units for low-income earners and industrial workers in the 2021 - 2030 period to be implemented quickly and effectively.
The land area zoned for social housing development has increased by 5,031ha from the 3,359ha reported in 2020, said the Ministry of Construction (MoC).
Policies are in place to tackle difficulties and increase support to facilitate the development of social housing, which include those issued to boost the building of accommodations for workers of industrial parks and members of the armed forces.
Ho Chi Minh City delivered assistance worth nearly 1.3 trillion VND (53 million USD) to over 1.41 million people on the occasion of the Lunar New Year (Tet) festival, its Department of Labour, Invalids and Social Affairs reported.
Prime Minister Pham Minh Chinh on December 17 issued an official dispatch asking relevant ministries, agencies and local authorities to take drastic solutions to ensure the safe, healthy and sustainable development of the property market.
The Thai government plans to allocate more than 11 billion THB (over 320 million USD) to subsidise low-income earners with their power bills for four months, starting in May.
Thailand’s Commerce Ministry has launched the Local+ project to increase income for low-income earners by identifying and supporting local products in three categories: bio-, circular and green (BCG), innovation and identity.
Of the credit package worth 110 trillion VND (over 4.6 billion USD), about half will be allocated as concessional loans to investors of social and workers’ housing projects while the rest will be allocated to buyers and renters.
Prime Minister Pham Minh Chinh on February 17 urged stakeholders in the real estate market, including the State, businesses, buyers and people, to join efforts for the safe, heathy and sustainable development of the market.
The Ministry of Construction has completed a project on developing at least one million housing units for low-income earners and workers at industrial parks for the 2021-2025 period.
Prime Minister Pham Minh Chinh has asked the Ministry of Construction to work together with other ministries and agencies to draft and submit a plan on building at least 1 million apartments of social housing for workers and low-income earners by 2030 to the Government in August.
