(VOVWORLD) - Vietnam is striving to complete the construction of 100,000 social houses nationwide this year. Since the beginning of the year, several new policies have been implemented to address challenges in realizing this goal.
 Vietnam aims to build 100,000 social houses in 2025 |
Localities and relevant agencies are reviewing and updating their urban planning to ensure sufficient land for development, aligning with the government’s 2023 plan to build at least 1 million social houses for low-income workers in industrial parks in the 2021-2030 period, the National Assembly’s resolution to pilot policies on social housing development, the revised Law on Housing, the revised Land Law, the revised Bidding Law, and other legal documents.
Since the start of the year, numerous provinces and cities have registered new social housing projects. Hanoi aims to build more than 18,000 social houses this year.
Mac Dinh Minh, Deputy Director of the municipal Department of Construction, said: "In the first quarter of this year, we will launch 3 to 5 projects while promptly resolving difficulties in ongoing projects."
Experts say the social housing segment is now supported by a strong legal framework. New regulations in the Housing Law, the Land Law, and the Bidding Law not only expand eligibility for purchasing social housing but also encourage broader private-sector engagement, allowing manufacturing enterprises in industrial zones to lease worker accommodations.
In addition to a credit package of 5.7 billion USD, the Prime Minister has recently asked commercial banks to expedite loans for social and worker housing.
The Asia Commercial Joint Stock Bank (ACB) launched a "First Home" credit package specifically for people under 35. ACB Chairman Tran Hung Huy said: "Young people play a vital role in socio-economic development. This policy not only facilitates easier access to housing but also enhances their work motivation, productivity, and long-term economic growth. The program will also support the real estate market and related industries."
Following ACB’s lead, many other commercial banks have joined efforts to create easy access to social housing loans for the public. With development gaining momentum in the first months of the year, Vietnam is on track to reach its goal of building 100,000 social houses this year.