Identified difficulties and obstacles of real estate projects

On the afternoon of June 3, at the regular Government press conference in May 2023, Deputy Minister of Construction Nguyen Van Sinh said that in the past time, the Ministry has gone to localities to urge and listen to projects facing difficulties. At the same time, it also reviewed difficult projects such as in Hanoi, Ho Chi Minh City, Da Nang, Can Tho, Hai Phong, Dong Nai, Binh Duong , Binh Thuan, etc.

Thereby, the authorities have identified the "bottlenecks" in current real estate projects. "The main difficulties identified are institutional problems and implementation problems in the projects," Mr. Sinh stated.

Regarding institutions , recently, the Government has issued many decrees, and ministries and branches have also issued many circulars to resolve problems.

Specifically, the Ministry of Finance has solutions related to the issuance of corporate bonds, removing obstacles according to Decree No. 10 of the Government and Decree 08. The Ministry of Natural Resources and Environment has proposed removing legal regulations related to land.

In addition, the State Bank also has many solutions related to capital sources, especially capital sources for investment in social housing and workers' housing.

Mr. Sinh said that the Ministry of Construction has many proposals to resolve the problems, especially the Decree amending decrees in the construction sector, and the problems related to real estate investment and business projects in recent times, especially the group of policies on social housing that have been proposed and amended according to the Housing Law.

"It can be said that institutional problems have been basically resolved," Mr. Sinh emphasized.

In terms of implementation, through reviews in localities, the working group has grasped and reported on implementation-related problems in localities.

Recently, Deputy Prime Minister Tran Hong Ha sent an official dispatch to localities and ministries and branches on continuing to review and remove difficulties of real estate projects, especially projects under unfinished investment that must have timely solutions.

Recently, there have been many difficult projects in localities such as Hanoi, Ho Chi Minh City, Da Nang, Dong Nai and some southern localities that are also having some problems related to investment procedures. These projects have been taking place over a long period of time, in different stages.

Therefore, the Ministry of Construction is currently coordinating with localities to continue to urge, review and remove problems.

“Any issues related to any ministry or sector will be promptly responded to by the local authorities. In the coming time, ministries and sectors will continue to work with localities to remove difficulties for businesses to boost supply,” Deputy Minister Nguyen Van Sinh informed.

Along with that, another important issue is to promote social housing and worker housing projects in accordance with the project approved by the Prime Minister, to create a housing supply, contributing to solving difficulties in social housing and worker housing.