Society

Seminar discusses compiling social housing policies for Vietnam

The Ministry of Construction, in coordination with the Korea Land and Housing Corporation held a seminar in Hanoi on February 21 to discuss the building of general social housing policies in Vietnam for the 2021-2030 period.
Seminar discusses compiling social housing policies for Vietnam ảnh 1Dong Mo - Dai Kim social housing project in Hoang Mai district, Hanoi (Photo: VNA)

Hanoi (VNA) – The Ministry of Construction, incoordination with the Korea Land and Housing Corporation held a seminar inHanoi on February 21 to discuss the building of general social housing policiesin Vietnam for the 2021-2030 period.

In Vietnam, the demand for social housing is urgent,especially in Hanoi and Ho Chi Minh City, as the country is entering its goldenpopulation period with 70 percent of the population at working age. Meanwhile,land for housing, transportation, and services remain limited.

In 2011, the Government issued the national housingdevelopment strategy for 2020. The Ministry of Planning and Investment recentlysubmitted a report to the Prime Minister on the assessment of a proposal on aproject on building general social housing policies for the 2021-2030 period,which uses non-refundable aid provided by the Republic of Korea’s (RoK) Governmentvia the Korea International Cooperation Agency (KOICA).

Deputy Construction Minister Nguyen Van Sinh said socialhousing development so far has only met about 33 percent of the housing strategy’starget of 12.5 million sq.m of social housing. This is attributable to limitedcapital, a lack of attention from local authorities, and improper mechanismsand policies that are yet to encourage realty developers to invest in socialhousing.

A Korean expert said since the 1970s, the RoK Government hasinvested in housing companies and launched effective models to developsmall-scale houses for low-income households.

The Government also worked to stabilise the housing marketfor low-income families by increasing supply and tightening real estatespeculation, which has afforded many citizens chances to own homes atreasonable prices.

Dr Moon Hyo-gon, the project’s director, said major beneficiariesof social housing are low-income households in urban areas and workers inindustrial zones, adding that the project will analayse the housing demand duringurbanisation, and review relevant laws and mechanisms in Vietnam, towards thegoal of outlining a strategy for social housing as part of the national housingdevelopment strategy for 2021-2030.

He suggested that Vietnam adopt a sustainable financialsystem, pooling together both private and foreign resources for the effort. –VNA
VNA
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