The 120,000 billion VND social housing credit package has only disbursed 105 billion, why is it slow?

10/29/2023 08:32 Nhat Linh Print article

ANTD.VN - According to the State Bank's report, the 120,000 billion VND loan program for developing social housing and worker housing (120,000 billion VND credit package) has just been disbursed by BIDV and Agribank nearly 105 billion VND for 3 projects in Phu Tho, Quang Ninh and Bac Ninh provinces.

Four state-owned commercial banks (BIDV, Agribank, Vietcombank, VietinBank) have registered to participate with an amount of about VND30,000 billion each. In addition, Tien Phong Commercial Joint Stock Bank (TPBank) has registered with an amount of VND5,000 billion. The State Bank said that participating banks have issued internal procedures with written instructions to implement the program uniformly throughout the system.

As a result, 18/63 provincial People's Committees have sent documents announcing the list of projects participating in the Program to the State Bank with 43 projects and 03 provincial People's Committees have announced on the electronic information portal (Phu Tho, Hai Phong, Nghe An) with 09 projects; the total loan demand of these 52 projects is more than 27,000 billion VND.

Việc giải ngân gói tín dụng nhà ở xã hội 120.000 tỷ đồng còn chậm ảnh 1

Disbursement of the 120,000 billion VND social housing credit package is still slow.

According to the State Bank of Vietnam, the disbursement of the VND120,000 billion credit package is slow due to many reasons. Among them, the supply of social housing is still limited, many localities have not yet announced the list of social housing, worker housing, and apartment renovation and reconstruction projects in the area as a basis for banks to access the projects;

Some social housing projects are not very attractive to home buyers because they depend on aspects of the project such as geographical location, infrastructure, etc. In addition, the policies and mechanisms on land and profit margins are not attractive and have not attracted businesses to invest in developing social housing;

In addition, some investors have been guided by credit institutions on loan procedures, but have not yet met the loan conditions as prescribed; Current regulations on conditions for purchasing social housing are also receiving many comments such as: Conditions on residence and conditions on income that are not subject to personal income tax are no longer suitable in the context of increasing housing prices.

In order to facilitate credit institutions to effectively implement credit programs and policies, in addition to the efforts of the banking sector, the State Bank also requested the Ministry of Construction to compile and announce a list of eligible projects for commercial banks to look up and consider lending in accordance with the assigned tasks in Resolution 33/NQ-CP;

At the same time, ministries and branches review, amend or submit to competent authorities to amend relevant legal documents to remove legal obstacles, procedures and formalities in investment and construction of social housing and workers' housing, increase the supply of this real estate segment to the market, and meet the real needs of the people;

There are effective solutions to promote development and attract diverse sources of investment capital into the real estate market such as the stock market, corporate bonds, FDI...;

The State Bank of Vietnam requests the People's Committees of provinces and cities to urgently announce the list of social housing projects, worker housing, and renovation and reconstruction of apartment buildings in accordance with the guidance of the Ministry of Construction in Official Dispatch No. 1551/BXD-QLN in terms of both content and form of announcement.

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