Prime Minister asks State Bank to promote real estate lending

ANTD.VN - The Prime Minister requested the State Bank to direct commercial banks to continue promoting credit lending to the real estate sector, reduce interest rates, and have special credit promotion policies for feasible projects.

Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 993/CD-TTg dated October 24, 2023 on continuing to resolutely implement solutions to develop a safe, healthy, and sustainable real estate market, contributing to promoting socio-economic development.

Regarding real estate credit, the Prime Minister assigned the Governor of the State Bank of Vietnam to direct commercial banks to continue promoting credit lending to the real estate sector.

At the same time, there are appropriate solutions to reduce costs to reduce interest rates; Continue to review and further reduce inappropriate, troublesome and costly administrative procedures so that businesses, real estate projects and home buyers can access credit sources more conveniently.

There are special credit promotion policies for feasible real estate projects with fast implementation progress, creating momentum for growth and promoting the real estate market.

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Prime Minister requests to promote real estate lending

The State Bank is also assigned to preside over and closely coordinate with the Ministry of Construction to carefully review favorable and open lending procedures and conditions, control and accelerate the implementation of the 120,000 billion VND credit program for preferential loans to develop social housing, workers' housing, and renovate and rebuild old apartment buildings.

Direct commercial banks to urgently guide credit loan procedures for projects that have been announced as eligible and in need of loans for both investors and home buyers of the 120,000 billion VND credit program.

Regarding the Minister of Construction, the Prime Minister requested to continue to closely coordinate with the National Assembly Committees to complete the draft Law on Housing (amended), the draft Law on Real Estate Business (amended) to submit to the National Assembly for consideration and approval at the 6th Session; Urgently develop and complete draft documents detailing and guiding the implementation of the Laws...

Promoting the role and responsibility of the Head of the Prime Minister's Working Group, the Working Group's activities must be more drastic, stronger, and more comprehensive, providing timely guidance and removing difficulties and obstacles, speeding up the implementation of real estate projects, especially large housing projects, urban areas, and industrial parks with spillover effects;

Timely advise and propose competent authorities to amend, supplement and perfect mechanisms and policies to promote decentralization, authorization, reduce administrative procedures, remove barriers, and speed up the implementation of real estate projects nationwide.

The Ministry of Construction also needs to focus on directing, urging, and guiding localities and enterprises to speed up the implementation of the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the 2021-2030 period"...

Urge localities to review, plan, and allocate land funds for the development of social housing in urban areas and housing for workers in accordance with legal regulations; Strictly implement regulations on land allocation for social housing and ensure a reasonable ratio between commercial housing development and social housing in the area.

In addition, the Minister of Natural Resources and Environment and leaders of People's Committees of provinces and cities are also assigned to urgently remove legal obstacles, speed up the establishment and approval of plans, speed up the settlement of investment procedures, construction, land allocation, land price determination, etc.

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