Politics

NA deliberates special mechanisms for social housing development

Lawmakers are examining a draft resolution on piloting several mechanisms and policies to accelerate the construction of the affordable houses while creating more favourable investment conditions for private enterprises entering the segment.

At the 9th session of the 15th National Assembly (Photo: VNA)
At the 9th session of the 15th National Assembly (Photo: VNA)

Hanoi (VNA) – Special mechanisms and policies aimed at fast-tracking the development of social housing nationwide are part of the discussions at the 9th session of the 15th National Assembly on May 24.

Lawmakers are examining a draft resolution on piloting several mechanisms and policies to accelerate the construction of the affordable houses while creating more favourable investment conditions for private enterprises entering the segment.

The proposed document represents a comprehensive strategy to push ahead social housing development timelines, reduce construction investment periods, and establishing a complete, harmonious, and unified legal framework that addresses current obstacles and bottlenecks in social housing construction and development to meet rapid development requirements.

The draft resolution aims at a dual target that helps low-income residents access suitable housing while completing the project to build at least one million social housing units for low-income groups and workers in the 2021-2030 period.

By balancing supply and demand, and adjusting the real estate commodity structure, the measures are designed to reduce costs in commercial housing segments, fostering more stable and healthier development of the real estate market.

The draft resolution suggests the establishment of a national housing fund, a state financial fund operating outside the regular budget framework at both central and local levels. This fund will draw resources from state budget allocations, voluntary support contributions, donations from domestic and international organisations and individuals, and revenues from land value equivalent payments for infrastructure development designated for social housing construction under existing housing laws.

The fund will serve multiple functions, including investment in social housing construction, and houses for civil servants, public employees and workers seeking rental or purchase arrangements.

The Government proposes several exceptional mechanisms to expedite social housing development in the coming period, including eliminating feasibility study assessments by specialised construction agencies, potentially reducing processing time by 15 to 35 days compared to current regulations.

The same day, legislators also listen to proposals and verification reports on draft laws concerning the transfer of sentenced persons and extradition./.

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#National Assembly #special mechanisms #social housing development #9th session #low-income groups
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