Hanoi(VNS/VNA) - The Ho Chi Minh City People’s Committee has asked relevantdepartments to tackle problems in granting house ownership certificates tooverseas Vietnamese to encourage their investment into the real estate market.
Statistics of the municipal Department ofConstruction revealed that only 15 overseas Vietnamese and foreigners weregranted house ownership certificates in the city during the past two years.
The figure was too modest compared to thenumber of overseas Vietnamese and foreigners who lived and worked in HCM City,the department said.
Experts said that this was caused bycomplicated procedures, as well as slow progress in identifying areas andprojects, which cannot be sold to foreigners.
Tran Hoa Phuong, Deputy Chairman of the HCMCity Overseas Vietnamese Committee, said that the most difficult procedure wasstill in identity confirmation.
The confirmation of identity for overseasVietnamese was jointly conducted by the Vietnamese embassies, the StateCommittee for Overseas Vietnamese Affairs and provincial/municipal judicialdepartments of foreign countries, Phuong said. He added that the money transferfrom foreign countries to Vietnam also needed to be in compliance with thelaws.
Expert Nguyen Tri Hieu said the regulationsmust be more open while the promotion of projects, which can be owned byforeigners, must be enhanced.
Deputy Chairman of the municipal People’sCommittee Tran Vinh Tuyen said in a document sent to relevant departments urgedthem to speed up the identification of areas which cannot be owned byforeigners, to ensure national security.
The Department of Construction must clarifythe list of commercial housing projects, which cannot be sold to foreigners andmake it public on the department’s e-portal, he said.
The legal framework for the Department ofNatural Resources and Environment to grant ownership certificates to overseasVietnamese and foreigners must also be improved, he added.
Statistics of the HCM City Real EstateAssociation revealed that around 22 percent of remittances into the southerncity flew into real estate.
In the first nine months of this year, HCMCity attracted more than 3.3 billion USD worth of remittances, up 6 percentover the same period last year.-VNA
VNA