Resolution 33/NQ-CP 2023 solutions to remove difficulties for development of real estate market

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Resolution No. 33/NQ-CP dated March 11, 2023 of the Government on a number of solutions to remove difficulties for and promote the safe, healthy and sustainable development of the real estate market
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Official number:33/NQ-CPSigner:Tran Hong Ha
Type:ResolutionExpiry date:Updating
Issuing date:11/03/2023Effect status:
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Fields:Construction , Land - Housing

SUMMARY

Implement credit program of about VND 120,000 billion for social housing projects

Resolution No. 33/NQ-CP on a number of solutions to remove difficulties for and promote safe, healthy, sustainable development of the real estate market is issued on March 11, 2023 by the Government.

Accordingly, the Government directs the Ministry of Construction to assume the prime responsibility for, and coordinate with the Ministry of Justice in studying, formulating and reporting to the Government for submission to the National Assembly for consideration and promulgation the National Assembly's Resolution on piloting a number of policies to promote social housing development at the May 2023 session; assume the prime responsibility for, and coordinate with other ministries and sectors in, directing and guiding localities and enterprises to effectively implement the Project of investment in building at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030 after being promulgated.

The State Bank of Vietnam shall assume the prime responsibility for implementing the credit program of about VND 120,000 billion to direct commercial banks, with 4 state-owned commercial banks as the core force, to grant loans for investors and buyers of houses of social housing projects, projects of workers' houses, and projects of renovation and rebuilding of old apartment buildings with interest rates during the preferential period 1.5-2% lower than the average medium-term and long-term VND lending rates of the above state-owned commercial banks in the market and eligible non-state commercial banks with specific credit packages in each period.

Concurrently, implement monetary policy firmly, proactively, flexibly, effectively, reasonably increasing credit, ensuring liquidity for the banking system in all circumstances; consider and appropriately adjust risk coefficients for different real estate segments, etc.

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THE GOVERNMENT

 

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. 33/NQ-CP

 

Hanoi, March 11, 2023

RESOLUTION

On a number of solutions to remove difficulties for and promote the safe, healthy and sustainable development of the real estate market[1]

 

THE GOVERNMENT

Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration;

Pursuant to the Government’s Decree No. 39/2022/ND-CP of June 18, 2022, promulgating the Government’s Working Regulation;

Based on the discussion and votes of the cabinet members, the opinions of the participants in and the conclusions of the Prime Minister at the Conference to remove difficulties for and promote the safe, healthy and sustainable development of the real estate market,

 

RESOLVES:

The year 2022 saw numerous difficulties and challenges for the Vietnamese economy in general and the real estate sector in particular. However, under the timely, flexible, creative, drastic and effective direction and administration by the Government, the Prime Minister and ministries, departments, sectors and localities, with the consensus and support of the business community and the people, and the assistance of international friends, Vietnam still maintained macroeconomic stability, with inflation controlled, growth promoted, major balances ensured, the labor market recovered, social security maintained, and the people’s living standards further improved, etc.

The real estate market plays a critical role in and makes important contributions to the economy and exerts impacts on many industries, trades and fields. However, in 2022, particularly the second half of 2022, the real estate market faced not a few difficulties due to the overall context of the world’s economic and real estate situation and Vietnam’s economy that is in the process of recovery and development; a number of shortcomings and limitations still persist and cannot be thoroughly dealt with, such as those in the legal system related to land, investment, construction, and real estate business; many real estate projects in localities face difficulties in implementation, leading to a significant decrease in the supply of real estate and housing compared to the previous time; unreasonable product structure, surplus in high-class products and  segment, while a lack of housing for workers and social housing, the real estate market and enterprises face numerous difficulties in access to credit loans, issuance of bonds and raising of capital from customers, making enterprises lack capital and have to reschedule or stop the project implementation.

In order to remove difficulties for the real estate market, the Prime Minister established the Prime Minister’s Working Group and issued many official telegraphs (No. 1156/CD-TTg, No. 1163/CD-TTg, No. 1164/CD-TTg, etc.), directing ministries, sectors and localities to perform many tasks and solutions in the short term as well as in the long term to remove difficulties for and promote the safe, healthy and sustainable development of the real estate market. The Working Group, Ministry of Construction, Ministry of Finance, State Bank of Vietnam, and other ministries, sectors and localities have expeditiously and actively performed the assigned tasks and achieved certain specific results.

Currently, the real estate market situation has seen changes but still faces many difficulties related to institutions, credit sources, bonds, and local implementation, which need to be removed. The Government provides the following uniform directions for authorities at all levels and all sectors and localities:

I. VIEWPOINTS AND OBJECTIVES

1. Viewpoints

a/ To thoroughly grasp and closely follow the Party’s line and guidelines and the State’s policies and laws, perform direction and administration work in a proactive, flexible, creative, timely and effective manner with a high sense of responsibility, ensuring suitability with the practical situation and requirements. All stakeholders must uphold responsibility; join hands to remove difficulties for the safe, healthy, open, transparent and sustainable development of the real estate market.

b/ To plan and invest in the development of the ecosystems of industrial real estate, service and tourism real estate, and urban housing to ensure supply and demand harmony; houses must be inhabited; for houses to be inhabited, it is a must to develop production, business, industry, services, and complete infrastructure systems.

c/ To focus on direction work to remove difficulties for and restore the real estate market along with risk control; to attach importance to the supervision and regulation of the market; to refrain from criminalizing economic-civil relations; to protect officials and people who do the right things.

d/ To improve institutions and policies related to real estate market development, ensuring feasibility, consistency and completeness of the legal system in order to facilitate the removal of difficulties for and promotion of the safe, healthy and sustainable development of the real estate market.

dd/ To adopt appropriate policies to promote the market, focusing on social security, creating opportunities for low-income earners; to step up the development of social housing and workers’ houses to meet the housing needs of low-income earners.

e/ To develop a safe, healthy and sustainable real estate ecosystem; not to unreasonably tighten sources of credit, bonds, securities, etc., for real estate, but to intensify inspection and supervision without relaxing state management.

g/ To harmoniously, reasonably and efficiently combine fiscal policy and monetary policy, implement flexible, safe and sure monetary policy while reasonably expanding fiscal policy, ensuring efficiency and strict management of prices and markets.

h/ To mobilize resources of the society, especially those of large real estate enterprises and economic groups; to adopt mechanisms to attract resources of foreign investors for developing the real estate market and social housing.

i/ To respect and adhere to the market rules, the law of supply and demand and the law of competition, with the real estate sector being treated equally with other industries and sectors. Real estate prices must conform to market rules and serves as a driving force of development.

2. Objectives

a/ Removing difficulties and obstacles, especially those in institutions, organization of implementation and funding sources for the real estate market, specifically as follows:

- To remove problems in regulations, processes and procedures as well as organization of the implementation of real estate projects, especially those related to investment, land, construction, auction, etc.;

- To intensely focus on removing obstacles for ongoing projects to urge their completion, creating supply for the market.

- To remove difficulties in credit sources, bonds, investment funds, etc., so as to clear hurdles in capital flows for the real estate market, contributing to increasing market liquidity.

b/ Stepping up the development of the real estate market, increasing supply sources and, at the same time, adjusting the structure of products of the real estate market to be more rational, focusing on the development of social housing, workers’ housing, housing suitable to the people’s income, specifically as follows:

- To accelerate the approval of master plans, approval of investment policy, selection of project owners and timely settlement of land and construction procedures for real estate projects to increase supply for the market.

- To promote the real estate market through capital support policies for implementing projects in a feasible and efficient manner.

- To promote the development of social housing and workers’ housing, striving to complete at least 1 million social houses by 2030.

c/ Regularly monitoring and efficiently supervising the market situation in order to promptly take appropriate measures and solutions for preventing the market from “hot development” or “freezing”, rumors, speculations to hike real estate prices for illicit profits, causing supply-demand imbalance, and ensure healthy operation according to the market mechanism.

II. MAIN TASKS AND SOLUTIONS

1. Improving institutions

The Government will continue to study and improve institutions, build up a legal system related to construction investment and housing and real estate business toward completeness and feasibility, focusing on:

a/ Expeditiously formulating and submitting to the National Assembly for consideration and passage the Land Law (amended), the Housing Law (amended), the Law on Real Estate Business (amended), the Bidding Law (amended), the Law on Property Auction (amended), the Law on Price (amended), the Law on Credit Institutions (amended), etc.

b/ Actively studying, formulating and submitting to the National Assembly for consideration and promulgation the National Assembly’s Resolution on pilot implementation of a number of policies to promote development of social housing.

c/ Expeditiously amending and supplementing the Decrees guiding the implementation of laws in order to remove current shortcomings, obstacles and difficulties related to construction investment, business, and transfer of real estate projects, making them be more suitable to the actual situation and ensure consistency and completeness of the legal system, focusing on:

- Finalizing and promulgating a Decree amending and supplementing a number of articles of the Decrees in the field of state management by the Ministry of Construction in order to remove difficulties and obstacles related to the implementation of real estate projects, making them be more suitable to the actual situation and ensure consistency and completeness of the legal system.

- Finalizing and promulgating a Decree amending and supplementing the Decrees guiding the implementation of the Land Law in order to remove difficulties and problems related to land procedures, land valuation, and grant of certificates of land use rights, certificates of ownership for non-residential real estate (tourism real estate, wellness real estate, officetel, etc,).

- Formulating and promulgating a Decree amending and supplementing the Decree detailing, and guiding the implementation of, a number of articles of the Law on Investment.

d/ Formulating and promulgating a Decree providing for the process, order and procedures for organizing the implementation of investment projects on construction of commercial houses and urban quarters to ensure convenience and consistency for localities in implementation. At the same time, localities need to immediately issue regulations, guidelines and solutions for problems falling within their competence; and shall report problems falling within the competence of the Government or the Prime Minister for consideration and decision.

dd/ Improving mechanisms and policies for mobilizing to the utmost financial resources at home and abroad for development of housing in particular and the real estate market in general.

2. Accelerating social housing development

a/ Pending the National Assembly’s passage of the Housing Law (amended) to comprehensively and synchronously remove current difficulties and obstacles in housing development in general and social housing development in particular, the Government shall formulate and submit to the National Assembly for consideration and promulgation the National Assembly’s Resolution on pilot implementation of a number of policies to promote the development of social housing in order to immediately remove specific difficulties and obstacles for creating a driving force for the development of social housing in the coming time, paying special attention to major problems arising in recent years, such as those in (1) land allocation for investment in construction of social housing projects; (2) planning and arrangement of land areas for social housing development; (3) selection of project owners for social housing projects; (4) benefits and incentives for project owners; (5) determination of selling prices, lease rates, and lease-purchase prices of social housing; and (6) subject eligible for the social housing policy and conditions for them to benefit from the policy, etc.

b/ To quickly complete, promulgate and effectively implement the Scheme on building at least 1 million social housing apartments for low-income earners and industrial-park workers in the 2021-2030 period in order to immediately remove specific difficulties and obstacles in social housing development, increase supply to meet the demand and conform to the affordability of low-income earners who have high demand for housing.

c/ To regard investment in social housing development for low-income workers as an investment item in the medium- and long-term capital sources of localities.

d/ For the purpose of covering part of capital for social housing development, to propose implementing a credit program of around VND 120 trillion (equivalent to around 12% of capital demand to achieve the goal of completing at least 1 million social housing apartments and workers’ houses in the 2021-2030 period) to provide project owners and home buyers of social housing and worker housing projects with loans at an interest rate which is 1.5-2% lower than the average interest rate for medium- and long-term Vietnam-dong loans applied by state-run commercial banks (including Agribank, BIDV, Vietcombank and Vietinbank) on the market in each period and by eligible non-state commercial banks for each specific credit package.

3. Credit capital

a/ To flexibly and synchronously administer monetary policy instruments to meet the demand for credit capital flows for socio-economic development; to improve mechanisms and policies for mobilizing to the utmost financial resources at home and abroad for development of housing in particular and the real estate market in general.

b/ To facilitate quick access to credit capital by enterprises, home buyers and investors; to take appropriate measures to tackle difficulties for real estate enterprises (such as rescheduling loan principals and interests, debt restructuring, etc.); to focus on feasible projects and loan plans, customers with financial capacity and ability to pay debts in full and on time; to give priority to housing projects that meet the real needs of the people, prove effective and have good liquidity such as social housing, renovation of old apartments, offices for lease, real estate for production, industry and tourism, etc.

c/ To take appropriate and effective measures to reduce loan interest rates and support the real estate market.

4. Corporate bonds

a/ To direct and guide capital raising activities (including bond issuance) of real estate enterprises on the securities market to comply with law.

b/ To control capital raising activities of real estate enterprises on the securities market to prevent speculation, price manipulation and hiking. At the same time, to create conditions for, rather than hindering, enterprises (with capacity, good and healthy business performance, etc.) to raise capital for recovery and development.

c/ To inspect and supervise the compliance with the regulations on issuance, investment and provision of services on corporate bonds, especially private placement of bonds by real estate enterprises and credit institutions related to real estate enterprises, enterprises with large bond-issuance volume at high interest rates, loss-making enterprises, and bond issuers without collateral.

d/ To study and propose complete policies and solutions to develop the corporate bond market in a safe, healthy and sustainable manner.

5. Organization of implementation by localities

a/ To uphold the sense of responsibility of heads, officials and civil servants; to put an end to the situation that officials and civil servants have the fear of doing wrong or fear of bearing responsibility, etc.

b/ To step up reform of administrative procedures, focusing on removing difficulties in legal procedures for real estate projects in the localities.

c/ To accelerate approval of master plans, approval of investment policy, selection of owners to implement real estate projects, and land-related financial obligations to increase supply for the market.

d/ To promote the development of social housing and workers’ housing and renovate and rebuild old apartment buildings in the localities.

6. Information and communication to restore trust, and support the market and the operation of real estate enterprises

a/ To step up information and communication that clearly demonstrate the strong message and commitment of the Government and the Prime Minister to side with localities and enterprises for removing difficulties for the real estate market; to refrain from criminalizing economic-civil relations; to protect the people and enterprises that do the right things; to ensure harmony of the interests of the State, the people and enterprises.

b/ To strictly and effectively control and censor social media channels that spread inaccurate and unofficial information possibly exerting negative impacts on the people, investors, customers and the market, especially information that can affect economic recovery and growth.

c/ To step up the disclosure, publicization and transparentization of information, especially timely disseminating and publicizing the State’s new policies, regulations and solutions on credit, bonds, stocks, real estate market situation, etc., ensuring the provision of accurate and official information to the society, thereby stabilizing the people’s psychology and the market.

d/ To intensify supervision, and strictly and promptly handle acts of spreading inaccurate information, causing negative impacts on the operation of the financial, credit and real estate markets.

III. ORGANIZATION OF IMPLEMENTATION

1. Ministries, sectors, central agencies and localities shall, within the ambit of their assigned functions, tasks and competence:

a/ Continue to urgently and strictly perform the tasks identified in the Government’s Resolution No. 11/NQ-CP on the Program on socio-economic recovery and development, the Prime Minister’s Directive No. 13/CT-TTg of 29, August 2022, on a number of solutions to promote safe, healthy and sustainable development of the real estate market; the Prime Minister’s official telegraphs (No. 1156/CD-TTg; No. 1163/CD-TTg; No. 1164/CD-TTg, etc.) and the Prime Minister’s Conclusion Notice No. 242/TB-VPCP of August 10, 2022, at the online conference to promote social housing development for workers and low-income earners.

b/ Concentrate efforts on formulating and approving master plans, ensuring their completeness, consistency and stability; link the development of industry, services, tourism and infrastructure systems with urban development and housing projects to ensure the supply-demand balance.

c/ Accelerate the review, classification and handling of real estate projects that are experiencing legal problems, have to stop operation, or cannot market their products due to legal problems with a view to freeing up land resources, investment capital and reducing the risk of bad debts.

d/ Resolutely tackle the situation of officials neglecting, not fulfilling their responsibilities, fearing responsibility and causing hassles in the performance of their official duties, especially in approval of master plans, performance of procedures related to investment, licensing, bidding, auction, and land and real estate valuation.

dd/ Continue to effectively implement solutions to support the real estate market in association with implementing policies on housing for policy beneficiaries, low-income earners, and housing for workers; promote the market research, analysis and forecast, especially the demand for industrial real estate, service and tourism real estate, to ensure supply for the market and promote production development, create jobs, and meet by-segment demand for housing; facilitate access to capital for the segment of housing for middle- and low-income earners to promote self-adjustment of the market in conformity with demand.

e/ Direct, urge and timely guide the removal of difficulties in implementing legal procedures for real estate projects.

g/ Promote the disclosure, publicity and transparency of information, ensuring effectiveness, timeliness and true nature of the situation, avoiding false information, while attaching importance to public communication, dissemination and disclosure of the State’s new policies, regulations and solutions on credit, bonds, stocks, and the real estate market situation.

2. The Ministry of Construction shall:

a/ Expeditiously complete the dossiers of the draft Housing Law (amended) and draft Law on Real Estate Business (amended) then report them to the Government for submission to the National Assembly for consideration and deliberation at the 5th session in May 2023 and for passage at the 6th session in October 2023 to ensure uniformity, consistency and feasibility of the legal system, with a view to completing the legal corridor for the transfer of future real estate and tourism real estate; trading and transfer of rights from incapable investors to capable investors so as to increase liquidity and development of the market.

b/ Urgently complete and submit to the Government for consideration and promulgation a Decree amending and supplementing a number of articles of the Decrees in the field of state management by the Ministry of Construction and a Decree providing for the process, order and procedures for implementation of investment projects to build commercial houses and urban quarters.

c/ Actively and proactively assume the prime responsibility for, and coordinate with the Ministry of Justice in, studying, formulating and reporting to the Government for submission to the National Assembly for consideration and promulgation the National Assembly’s Resolution on pilot implementation of a number of policies to promote social housing development at the May 2023 session.

d/ Actively and proactively assume the prime responsibility for, and coordinate with other ministries and sectors in, directing and guiding localities and enterprises to effectively implement the Scheme on investment in building at least 1 million social housing apartments for low-income earners and industrial-park workers in the 2021-2030 period after it is promulgated by the Government or the Prime Minister.

dd/ Coordinate with the State Bank of Vietnam in implementing the credit program of around VND 120 trillion and specific credit packages for owners and home buyers of social housing projects, workers’ housing projects, projects on renovation and rebuilding of old apartment buildings at interest rates that are more favorable than the market ones; assume the prime responsibility for, and coordinate with the State Bank of Vietnam and related ministries, sectors and agencies in drawing up a list of projects, and subjects, conditions and criteria for benefiting from the Program.

e/ Coordinate with other ministries and sectors in directing and guiding localities and enterprises to implement the Government’s Resolution No. 11/NQ-CP on the Program of socio-economic recovery and development, including making a list of projects, reviewing the land areas, completing legal procedures, selecting owners to implement projects on social housing, housing for industrial-park workers, and renovation and rebuilding of old apartment buildings.

g/ Monitor market developments, trends and needs (types and segments of real estate) for reporting to the Government and Prime Minister; proactively coordinate with the Ministry of Information and Communications in disseminating policies, solutions and results of removal of difficulties for and promotion of the safe, healthy and sustainable development of the real estate market.

3. The State Bank of Vietnam shall:

a/ Expeditiously formulate and report to the Government for submission to the National Assembly the dossier of the draft Law on Credit Institutions (amended) in accordance with the Law on Promulgation of Legal Documents.

b/ Perform the tasks and solutions defined in the Prime Minister’s Official Telegraph No. 1156/CD-TTg of December 12, 2022, in order to provide credit capital for the economy, contributing to removing difficulties for and promoting the safe, healthy and sustainable development of the real estate market, concentrate credit on priority fields and economic growth drivers, including social housing and workers’ housing.

c/ Administer monetary policy firmly, proactively, flexibly and effectively, reasonably increasing credit, ensuring liquidity for the banking system in all circumstances, meeting capital needs for the economy; consider and direct credit institutions to review and classify real estate projects in order to take appropriate handling measures (such as rescheduling of loan principals and interests, debt restructuring, etc.) in accordance with regulations, ensure the safe operation of the banking system and, at the same time, strive to reduce operating costs so as to have room for lowering loan interest rates for the economy, including home buyers and real estate projects, thus contributing to solving difficulties in credit capital for enterprises.

d/ Assume the prime responsibility for implementing the credit program of around VND 120 trillion to direct commercial banks, with 4 state-run commercial banks (Agribank, BIDV, Vietcombank, Vietinbank) as the core force, to provide owners and home buyers of social housing projects, workers’ housing projects, and projects on renovation and rebuilding of old apartment buildings with loans at interest rates during the preferential period 1.5-2% lower than the average medium- and long-term Vietnam-dong loan rates applied by the above state-run commercial banks on the market and eligible non-state commercial banks with specific credit packages in each period; coordinate with the Ministry of Construction and related ministries, sectors and agencies in determining the list of projects, and subjects, conditions and criteria for benefiting from the Program.

dd/ Direct credit institutions to create favorable conditions for real estate project owners and home buyers to access credit sources; continue to earmark credit capital for real estate projects that fully meet legal requirements, are able to sell products and ensure repayment plans, especially projects on social housing, workers’ housing and housing suitable to people’s income, and types of real estate for production, business and social security purposes with high efficiency, capable of debt payment and development in accordance with the Prime Minister’s directions in Official Telegraph No. 1164/CD-TTg of December 14, 2022, on removal of difficulties for the real estate market and housing development.

e/ Direct credit institutions to evaluate the production and business situation of enterprises, the potential of each project and real estate segment such as residential real estate suitable for people’s income, social housing, housing for workers; industrial real estate, tourism real estate, officetel, etc., so as to consider adjusting loan provision conditions without applying the same policies to projects with risks.

g/ Consider appropriately adjusting risk coefficients for different real estate segments; review regulations relating to lending and investment in corporate bonds to ensure consistency on and conformity with the Government’s policy on development of the corporate bond market.

4. The Ministry of Finance shall:

a/ Finalize the dossier of the draft Price Law (amended) and submit it to the National Assembly for consideration and passage at the 5th session in May 2023;

b/ Thoroughly review and evaluate the solvency and payment capacity of corporate bond issuers, including real estate enterprises, especially bonds that will be due for payment in 2023;

c/ Effectively perform the tasks assigned by the Prime Minister in Official Telegraph No. 1163/CD-TTg of December 13, 2022, on the corporate bond market, especially urgently evaluating and carefully reviewing, proposing amendments to legal documents relating to the issuance of corporate bonds, especially the private placement of corporate bonds in the domestic market and the offering of corporate bonds to the international market; adopt harmonized, reasonable and effective measures and solutions to restructure bond debts, restructure interest rates, payment terms, and payment conditions suitable to the practical situation, in the spirit of “harmonious benefits, shared difficulties and risks”, in accordance with law; study the mode by which real estate enterprises negotiate, and swap debt bonds with assets or real estate, etc.

d/ Ensure the healthy and open capital-raising activities of real estate enterprises on the securities market; control to prevent speculation, price manipulation and hiking.

5. The Ministry of Natural Resources and Environment shall:

a/ Finalize the dossier of the draft Land Law (amended) and submit it to the National Assembly for consideration and deliberation and strive to have it passed at the 6th session in October 2023 to ensure uniformity, consistency and feasibility of the legal system.

b/ Expeditiously complete and submit to the Government for consideration and promulgation a Decree amending and supplementing the Decrees guiding the implementation of the Land Law; guide and remove difficulties and problems related to land procedures.

c/ Concentrate efforts on building and completing the land information and data system and connecting it with the national population database system under the Ministry of Public Security.

6. The Ministry of Planning and Investment shall:

a/ Finalize the dossier of the draft Bidding Law (amended) and submit it to the National Assembly for consideration and passage at the 5th session in May 2023;

b/ Expeditiously review, and formulate and submit to the Government for consideration and promulgation a Decree amending and supplementing the Decree detailing and guiding the implementation of a number of articles of the Law on Investment.

c/ Intensify inspection and direction and urge localities to quickly carry out formulation of provincial master plans.

d/ Intensify inspection and direction, urge and guide localities and enterprises in implementing the investment and bidding laws so as to remove difficulties and obstacles in approval and adjustment of policy on real estate investment and bidding.

dd/ Assume the prime responsibility for, and coordinate with the Ministry of Finance, Ministry of Construction, State Bank of Vietnam and related ministries, sectors and organizations in, improving mechanisms and policies in order to exploit and mobilize to the utmost financial resources at home and abroad for development of housing in particular and the real estate market in general.

7. The Ministry of Justice shall:

a/ Study making a dossier of the draft Law on Property Auction (amended) and report it to the Government for submission to the National Assembly for consideration and deliberation at the 6th sessions in October 2023, and for passage at the session in May 2024.

b/ Coordinate with related ministries and sectors in studying improvement of the legal system related to real estate.

c/ Coordinate with the Ministry of Construction in formulating and reporting to the Government for submission to the National Assembly for consideration and promulgation the National Assembly’s Resolution on pilot implementation of a number of policies to promote social housing development at the National Assembly session in May 2023.

8. The Ministry of Public Security shall assume the prime responsibility for, and coordinate with competent authorities in, supervising, and strictly and promptly handling violations in real estate investment and business activities and real estate brokerage activities and acts of spreading inaccurate information, causing negative impacts on the operation of the financial, credit and real estate markets.

9. The Ministry of Information and Communication shall:

a/ Concentrate efforts on directing and strictly and effectively controlling information channels; coordinate with the Ministry of Public Security in taking measures and arranging systems and human resources to control, detect, make statistics of, and prevent inaccurate and unofficial social information channels that are likely to exert negative impacts on the people, investors, customers and the market, especially information affecting economic recovery and growth.

b/ Coordinate with ministries and sectors to promote the provision of official, accurate and true information on the situation, preventing false information, so as to stabilize the psychology of the people, investors and customers, and stabilize the market.

10. Localities shall:

a/ Step up law communication dissemination work in order to improve the capacity, understanding and professionalism of officials, civil servants and public employees; raise the sense of responsibility of heads, officials and civil servants; protect people who do the right things in order to put an end to the situation in which a segment of officials, civil servants and public employees have the fear of doing the wrong thongs and fear of bearing responsibility, etc., in their task performance.

b/ Expeditiously review and make a list of housing and real estate projects in the localities; evaluate specific reasons and causes for projects for which investment policy has been approved but which have not yet been implemented or are implemented behind schedule; on that basis, focus on removing legal difficulties and obstacles in investment preparation procedures for housing projects in order to increase supply for the market; and report any problems falling beyond their competence to competent authorities.

c/ Expeditiously formulate and approve land-use master plans and plans, construction master plans, 5-year and annual housing development programs and plans for use as a basis for approval of investment policy for housing development projects, increasing supply for the market.

d/ Focus on further promoting the auction of land use rights and bidding for land-using projects; approve investment policy for projects and select project owners, especially land pricing, calculation of levy for land use, land allocation and land lease for implementation of housing projects in order to increase supply for the real estate market.

dd/ Speed up reform of administrative procedures; promote the implementation of inter-agency administrative procedures and level-4 electronic administrative procedures, stop pushing responsibility, causing difficulties or delays in settlement of real estate project implementation procedures in the localities and, att the same time, strengthen the direction, administration, urging, guidance and supervision of the settlement of affairs by the contingent of cadres and civil servants in order to promptly detect and remove arising difficulties and problems so as not to prolong the time for settlement of affairs or not to leave affairs unsettled in a timely manner.

e/ Concentrate on implementing the Government’s Resolution No. 11/NQ-CP on the Program of socio-economic recovery and development and effectively implement the Scheme on investment in building at least 1 million social housing apartments for low-income earners and industrial-park workers in the 2021-2030 period.

g/ Expeditiously make conclusions on real estate projects already and currently undergoing review of legal procedures so as to early resume their implementation, especially large projects; projects that meet the people’s real needs, social housing projects, projects on renovation of old apartment buildings and projects that meet the demand for lease of real estate for production, industry, tourism
activities, etc.

h/ Actively and proactively hold working meetings directly with each enterprise and each project, especially large projects, to listen to their difficulties and problems in order to promptly solve difficulties and problems within their competence, stop pushing responsibility or delay in settlement of administrative procedures.

i/ Further promote the review, submission, approval (approval of adjustment) of general master plans, zoning master plans and detailed construction master plans for the implementation of housing and real estate projects in the localities.

k/ Promulgate specific regulations according to their competence to implement legal documents on land and housing and relevant regulations on conditions, criteria, scale and ratio for separating the State-managed land areas (public land areas) in independent project components from commercial housing project under Clause 13, Article 1 of Decree 148/2020/ND-CP; compensation coefficient k upon renovating and rebuilding old apartment buildings according to specific local conditions mentioned in Clause 1, Article 21 of Decree 69/2021/ND-CP, etc.

l/ Increase effective monitoring and supervision of the local market situation in order to promptly take appropriate measures and solutions to prevent the market from “hot development” or “freezing”, rumors, speculation to hike real estate prices for making illicit profits, causing supply-demand imbalance, and to ensure operation according to the market mechanism.

11. Real estate enterprises shall prioritize all resources for debt payment, especially bond debts; and proactively study restructuring prices and products in conformity with the actual needs of the market.

The Government assigns the Government Office to assume the prime responsibility for, and coordinate with ministries, sectors, central agencies, localities and related agencies and units in, monitoring, urging and inspecting the implementation of this Resolution; regularly review and report to the Government and Prime Minister on the situation and results of the implementation of this Resolution; and promptly report and propose to the Government and Prime Minister arising problems and issues that fall beyond their competence.-

On behalf of the Government
For the Prime Minister
Deputy Prime Minister
TRAN HONG HA

 

[1] Công Báo Nos 627-628 (24/3/2023)

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