Federal Assembly approves million-dollar project for social housing!

Federal Assembly approves million-dollar project for social housing!

On May 29, 2025, a plenary session of the National Assembly of Vietnam was held and three significant resolutions were passed. A key point of the meeting was the discussion of the draft law amending the Law on Credit Institutions and the adoption of a draft resolution authorizing the People's Procuratorate to initiate civil lawsuits. Particularly highlighted was the vote on a resolution on the development of social housing, which was described by Tran Thanh Man, Chairman of the National Assembly, as of great importance for society.

The aim of this resolution is to remove obstacles and simplify procedures to promote investment in social housing. An ambitious project under this initiative envisages the construction of one million social housing units for low earners and workers between 2021 and 2030. To date, 657 social housing projects have been implemented, which corresponds to 15.6% of the target by 2025.

Delays and challenges

Despite a VND120 trillion government support package to boost social housing, there are delays in disbursement. These reportedly result from unclear directions and lengthy administrative procedures. To address this, the government proposes to reduce the maximum implementation time for the projects to 75 days, a reduction of approximately 200 days (70%).

• Die neuen Richtlinien beinhalten:
• Festlegung von Verkaufspreisen und Mietpreisen für Sozialwohnungen.
• Regelungen zu Wohnbedingungen für Fördermaßnahmen im sozialen Wohnungsbau.
• Rückerstattungen von Landnutzungsgebühren und finanziellen Verpflichtungen für Investoren.

In an accompanying online conference with 63 provinces and cities, Prime Minister Pham Minh Chinh also discussed addressing difficulties in building social housing. He emphasized that the development of social housing is part of social security policy and contributes to promoting economic development. Despite positive changes, it was found that progress in this area does not meet current needs.

Financial support and future plans

In line with the project to build at least one million social housing units by 2030, a loan package of over $5 billion has been provided by banks. There are already 68 projects in 28 provinces and cities that meet the conditions for this loan package. By the end of 2023, almost 500 social housing projects with more than 410,000 apartments have been implemented, of which 72 projects have already been completed.

In order to further expand the social housing infrastructure, more than 8,600 hectares were reserved for social housing. Provinces such as Dong Nai, Ho Chi Minh City, Long An, Hai Phong and Hanoi are actively focusing on land planning for social housing. About 130,000 social housing units are planned for 2024, while Becamex Corporation plans to develop social housing alongside housing for workers, including 10,000 units in Binh Duong in the same year.

In summary, it is clear that Vietnam is making strong efforts to develop social housing to meet the needs of the population while promoting economic growth. However, it remains a challenge to overcome the administrative hurdles and provide financial resources quickly. Further progress is needed to achieve ambitious social housing targets. The National Assembly and the government are relying on close cooperation between ministries, banks and companies to advance social housing construction. Vietnam.vn reports that… and VOV World provides further information.