The Hanoi Development Investment Fund (HADIF) has set to expand cooperation with local and foreign financial organisations and investors in a bid to draw their investment in the capital city’s socio-economic development.
Ho Chi Minh City plans to develop social housing on its own instead of building new resettlement housing with state funds, according to the city’s People’s Committee.
Hanoi sets a target of developing additional 11 million sq.m of housing in 2018, including 430,000 sq.m of social housing, nearly 348,000 sq.m of resettlement housing and more than 2.1 million sq.m of commercial housing.
Ho Chi Minh City prioritises investment in green hi-tech industries, urban development and transport infrastructure, said Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen.
When it comes to social housing or affordable housing for low-income earners, funding is usually a key factor in such projects. However, once the projects are completed, problems in planning, investment management and efficiency tend to crop up.
Hundred metres of land along rivers and coastlines have been destroyed by unusually strong winds and waves, combined with rising tides in the southernmost province of Ca Mau.
More than 40,000 apartments will be needed over the next five years to resettle residents who have had to move for public works or real estate projects.
Ho Chi Minh City authorities have decided to review resettlement housing
projects in the city to prevent the current situation of surplus in
certain areas and reduce wastage of scarce State-budget funds.
As many as 1,600 housing units were built for resettlement, along with
35 low-income residential areas, and 15 schools and clinics were
upgraded as a result of the Urban Upgrading Project for the southern
city of Can Tho, supported by the World Bank (WB).
Society
