Governor of the State Bank of Vietnam: The banking sector is always ready to accompany the development of social housing.

Major policies of the Party, State and the proactive role of the banking industry

As a member of the Government assigned to attend the groundbreaking ceremony of the Kira Home social housing project in the Legend City urban area, Governor of the State Bank of Vietnam Nguyen Thi Hong emphasized that this is a project and construction of special importance, contributing to realizing the major policy of the Party and State on developing social housing and ensuring social security. In recent times, the development and investment in the construction of social housing has always been of interest to the Party, State, Government, Prime Minister, and ministries, branches and localities with many policies issued and resources prioritized for implementation.

Governor of the State Bank of Vietnam Nguyen Thi Hong affirmed that social housing development is one of the areas that the banking sector pays special attention to.

Specifically, the Secretariat issued Directive 34-CT/TW dated May 24, 2024 on strengthening the Party's leadership over social housing development in the new situation. The National Assembly has issued laws such as the 2023 Housing Law, the 2023 Real Estate Business Law, and the 2024 Land Law. Along with that, the Government, ministries and branches have issued a system of guiding documents detailing the laws with many innovative policies, aiming to remove legal obstacles and create favorable conditions for the real estate market, including the field of social housing for low-income people and housing for workers in industrial parks;

In particular, the Prime Minister approved the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period 2021-2030" and Decision No. 444/QD-TTg dated February 27, 2025 assigning the target of completing social housing in 2025 and the following years until 2030 to each locality.

Social housing requires many resources, from many sources, especially the state budget. Implementing the Government's direction in Resolution 33/NQ-CP dated March 11, 2023 on removing obstacles and promoting the safe, healthy and sustainable development of the real estate market, the State Bank has directed commercial banks to implement the VND 120,000 billion credit program (currently the program scale is VND 145,000 billion), in which the main players are 4 state-owned commercial banks (Agribank, BIDV, Vietcombank, Vietinbank). Accordingly, the program is implemented entirely with capital mobilized from depositors of commercial banks, and lending is carried out in accordance with current legal regulations on lending.

In addition, the banking sector is also at the forefront of social security activities, especially the program to eliminate temporary and dilapidated houses, etc., actively contributing to improving the quality of life of people across the country.

“At today’s groundbreaking ceremony, the presence of the leaders of the State Bank of Vietnam, Region 4 Branch, and the leaders of three major commercial banks actively participating in the VND120,000 billion credit program for social housing is a clear demonstration of the banking sector’s readiness to accompany. As soon as the Vinh Phuc Provincial People’s Committee announces the list of social housing projects eligible to participate in the credit package, banks will deploy loans in accordance with regulations, in order to promptly support investors in implementing projects effectively, contributing to realizing the social security goals of the Party and the State,” the Governor emphasized, adding that, to date, 37/63 localities have submitted a list of projects eligible to participate in the program, with a total of 97 social housing projects.

Governor of the State Bank of Vietnam Nguyen Thi Hong believes that with the dedication of investors, the provincial Party Committee, the People's Committee, the State Bank of Vietnam, and commercial banks, the project will definitely be successful.

Vinh Phuc is one of the provinces in the Red River Delta, with a strategic position in the socio-economic development of the capital region, and is one of the provinces with the strongest industrial development in the North. Vinh Phuc province has 17 industrial parks, of which 9 are operating with high occupancy rates, with over 260,000 regular workers, and a huge demand for social housing. According to the Project to build at least 1 million social housing units for low-income people and industrial park workers approved by the Prime Minister, by 2030 Vinh Phuc must complete 28,300 apartments at the high average level of localities.

In recent times, Vinh Phuc province has actively implemented many solutions to accelerate the construction progress of many social housing projects, to complete the goals assigned by the Prime Minister. Since the beginning of 2025, 02 social housing projects have been started: Phuc Thang social housing project, social housing project in Nam Vinh Yen new urban area. And on April 19, 2025, the Kira Home social housing project in Dao Duc commune, Binh Xuyen district, belonging to the Legend City urban area project, continued to start construction.

The project has a scale of 62 hectares, an estimated population of about 8,640 people, a total investment of 6,269 billion VND, and a credit loan demand of about 5,000 billion VND. The project is divided into two phases: phase 1 will build 4 apartment buildings (15,720 m²); phase 2 will build 6 more buildings (23,924 m²). This is also the project chosen to celebrate the 50th anniversary of the Liberation of the South and National Reunification, and will be broadcast live nationwide. "The strong direction and attention from the leaders of the Provincial Party Committee and People's Committee, along with the enthusiasm of the investor, are important prerequisites to ensure the project is completed on schedule and with quality," the Governor emphasized.

Banking sector continues to accompany businesses

In order for the Project to be completed on schedule, thereby contributing to the goal of developing social housing locally and nationwide, creating conditions for workers and low-income people to improve their housing. In the coming time, the Governor requested that the investor strive to speed up the construction progress, improve the quality of the completion of works and items of the Project, meeting and exceeding the set goals and targets.

On the banking sector side, the Governor affirmed to continue accompanying the activities of enterprises in Vinh Phuc province, closely coordinating with local Party committees and authorities on credit work, promoting the implementation of the credit program for social housing according to Resolution 33/NQ-CP, contributing to the implementation of the province's assigned goals in the Project of 1 million social housing units and successfully implementing the province's socio-economic development goals. Regarding the project, the Governor requested banks to promptly and proactively approach investors to evaluate and appraise the loan project according to regulations.

To complete the assigned target in the Project of 1 million social housing units, Governor Nguyen Thi Hong said that it requires great attention from local Party committees and authorities. Therefore, local Party committees and authorities continue to focus on leadership, direction and state management according to the Party and State's guidelines and policies, Directive 34 of the Secretariat, the Government's Project and the Prime Minister's Decision, to quickly implement social housing projects, ensuring quality, infrastructure, environment and governance.

Chairman of Vinh Phuc Provincial People's Committee Tran Duy Dong expressed his gratitude to the Governor of the State Bank of Vietnam and the delegates attending the groundbreaking ceremony of the Social Housing project. The groundbreaking ceremony of the project continues to mark an important step in the development of social housing in Vinh Phuc province, aiming to complete the target of social housing development according to the social housing development project assigned by the Prime Minister.

The Chairman of Vinh Phuc Provincial People's Committee believes that with the determination of investors, the close direction of authorities at all levels, and the support of the people, social housing projects in the province will be implemented on schedule, ensuring quality, gradually meeting the housing needs of people, especially low-income people in Vinh Phuc province.

Source: https://thoibaonganhang.vn/thong-doc-nhnn-nganh-ngan-hang-luon-san-sang-dong-hanh-phat-trien-nha-o-xa-hoi-163053.html