Vietnam home to 513 social housing projects for workers
Vietnam has 513 social housing projects for workers, 249 of which with 5.2 million sq.m of floor area are completed, or 41.7 percent of the plan, according to figures from the Ministry of Construction.
An archirectural drawing of a social housing project in Da Nang city (Photo: VNA)
Hanoi (VNA) - Vietnam has 513 socialhousing projects for workers, 249 of which with 5.2 million sq.m of floor area arecompleted, or 41.7 percent of ൲the plan, according to figures from the Ministryof Construc🎐tion.
Meanwhile, 264 other projects with total floor areaof around 10.95 million sq.m are under construction. Deputy Construction Minister Nguyen Van Sinh saidthe target under the national housing strategy has not been fulfilled, with ashortage of funding one of the main reasons. The ministry has proposed amendments to Decree100/2015/ND-CP to address the problems, and is working with the Vietnam GeneralConfederation of Labour on a project to bolster trade union institutions at industrialand export processing parks, the Deputy Minister said. The Bank for Social Policy has so far received some2.16 trillion VND out of a total of 9 trillion VND (388.36 million USD) todisburse for such projects this year, or just 24 percent, while four commercialbanks appointed by the State to provide subsidised loans have not received anycapital. Many localities and businesses are yet to pay due regardto social housing, Sinh pointed out. He added that developers are not interested insocial housing projects as incentives are not attractive enough. Real estate has been among the leading sectors inattracting FDI, analysts said, and real estate products are growing in terms ofvariety. Demand will continue to rise to 2030, especially inurban areas, due to economic and population growth, and around 70 millionsquare metres of urban housing is needed every year. But there are too many luxury property products andnot enough social housing for low-income earners despite there being moredemand for the latter./.
The severe economic blows from COVID-19 have forced scores of businesses to suspend operations and even file for bankruptcy, with real estate companies among the hardest hit.
Relevant ministries, sectors and localities should focus demand-supply forecast, and be cautious of the property market developments to prevent a housing bubble this year, Deputy Prime Minister Trinh Dinh Dung said at a recent meeting.
Hanoi needs nearly 4 billion USD to develop 7.2 million square meters of social housing in the next five years amid a shortage of low-cost residential real estate.
Ho Chi Minh City is expected to need an additional 160,000 social housing apartments in the next decade to meet its rising population and demand for affordable housing, according to the city’s Department of Construction.
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Despite realising that he had been scammed, the tourist still paid the fare, took a photo of the license plate as evidence and sent a report to the authorities.
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More than half a century after the war, millions of unexploded bombs and mines remain buried underground, threatening lives and hindering development in many localities.
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The event, the 12th of its kind jointly, was jointly organised by the Vietnamese Embassy in Belgium and Chris Geyskens, Chairwoman of the Belgium chapter of the Hoi An – Vietnam Association for Victims of AO/Dioxin.