Prime Minister requests State Bank to continue reviewing real estate lending

ANTD.VN - The Prime Minister requested the State Bank to have appropriate and effective solutions to help businesses and home buyers access credit more conveniently; banks continue to reduce interest rates and share with people and businesses.

Still have the fear of being wrong, fear of responsibility

Speaking at the conclusion of the Conference to evaluate the implementation results of Resolution No. 33/NQ-CP dated March 11, 2023 of the Government and propose solutions to remove difficulties and obstacles for the real estate market, this afternoon, August 3, Prime Minister Pham Minh Chinh said that the implementation of Resolution 33 has had certain effects, helping the situation to be better each month than the previous month, each quarter better than the previous quarter and hopefully 2023 will be better than 2022.

However, there are many problems that have been stuck for many years and cannot be solved by a meeting, a document, a year or a quarter. Besides the results achieved, there are still difficulties related to law, the development of the stock market, capital market, administrative procedures, the promotion of decentralization, delegation of power, etc.

Some officials, civil servants, law enforcement agencies and units have a mentality of fear of mistakes, fear of responsibility, fear of legal risks, leading to shirking, slow handling, not daring to propose, not daring to decide. Implementation is still a weak link, it is necessary to be more flexible, proactive, creative, coordination between levels and sectors needs to be more synchronous, drastic and effective.

Regarding the direction for the coming time, the Prime Minister requested to continue to thoroughly grasp a number of guiding viewpoints. Accordingly, it is necessary to continue to persevere and steadfastly maintain macroeconomic stability, control inflation, promote growth, and ensure major balances of the economy.

Firstly, continue to review the legal framework to see where the problems are, in which documents, what content, who will resolve them, and how long it will take to resolve them; in particular, it is necessary to accelerate the establishment of real estate trading floors to promote the market's self-regulation capacity and limit administrative intervention.

Ministries and local branches focus on and urgently complete planning work with branches, regions, localities and sub-regions.

Prime Minister requests State Bank to continue reviewing real estate lending photo 1

Prime Minister Pham Minh Chinh delivered a concluding speech at the conference.

Second, to increase aggregate supply and aggregate demand, it is necessary to resolutely implement a proactive, flexible, loose, timely, more effective but controlled monetary policy (reducing lending interest rates, increasing credit limits, boosting M2 money supply; accelerating debt forgiveness, debt restructuring, debt extension, debt deferral, etc.; coordinating synchronously, closely, and harmoniously with a reasonable, focused, key, effective, quick, and decisive expansionary fiscal policy; focusing on further improving the effectiveness of policy coordination.

These policies will help provide oxygen and nutrition for businesses, the Prime Minister compared.

Third, focus on promoting growth drivers, boosting production and business, creating jobs, livelihoods, income, and improving the material and spiritual life of the people.

The Prime Minister once again noted that localities and beautiful lands with convenient transportation should be prioritized for production and business, thereby creating jobs and attracting people to work. Only when people come to work will people come to live. Only when people come to live will people buy houses, thereby developing real estate and urban areas. This is a matter of law, proven in practice.

Fourth, restructure real estate segments appropriately, paying attention to social housing, worker housing, and housing for middle-income people. The unreasonable real estate structure makes it impossible for many people with real needs to access housing.

Fifth, promote social housing, worker housing, and renovation of old apartments. Provincial and municipal leaders need to focus on this work, carry it out substantially, effectively, and not in formality.

Sixth, the Prime Minister noted solutions on implementation organization and human resources. Based on their functions, tasks and powers, ministries, branches and localities must proactively implement the above solutions within their authority. If they exceed their authority, they must propose to competent authorities for consideration and decision.

Agencies encourage, motivate, promote responsibility and form the basis and legal corridor for cadres, civil servants and public employees to dare to think, dare to do and carry out their work, as long as they are impartial, transparent, for the common good, for development; reward, discipline and handle promptly and strictly.

Banking industry continues to share with people and businesses

Regarding specific tasks, the Prime Minister assigned the Ministry of Construction to continue to review, urge, and guide localities and businesses in removing difficulties and obstacles in implementing real estate projects.

Coordinate with relevant ministries and agencies to continue researching and completing the dossier for drafting the Land Law (amended), Housing Law (amended), and Real Estate Business Law (amended), ensuring the consistency, unity, and feasibility of the legal system.

Coordinate with ministries and branches to direct and guide localities and enterprises to effectively implement 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"...

Regarding the State Bank of Vietnam, the Prime Minister requested to continue reviewing credit lending to real estate enterprises; have appropriate and effective solutions for enterprises, real estate projects and home buyers to access credit capital more conveniently, both creating convenience and supporting enterprises and controlling risks, contributing to removing difficulties, promoting the development of a safe, healthy, effective and sustainable real estate market, especially considering very specifically to lend to projects that are about to be completed.

The State Bank shall preside over and coordinate with the Ministry of Construction and centrally-run provinces and cities to effectively implement the Credit Program of about VND 120,000 billion for preferential loans to develop social housing, workers' housing, and renovate and rebuild apartment buildings.

Commercial banks continue to share with businesses and people, create conditions to lower lending interest rates, simplify administrative lending procedures; promote population databases in credit management and lending. Banks, businesses and home buyers need to promote the spirit of "harmonized benefits, shared risks".

The Ministry of Finance will review, carefully evaluate, and implement solutions to develop the corporate bond market; research the establishment of a social housing development fund for workers; promote public-private partnership in social housing development, etc.

For businesses, the Prime Minister suggested continuing to proactively review and restructure businesses, investment portfolios, and investment product structures to ensure they are consistent with the financial capacity, scale, and management capabilities of the business and in line with the real needs of society.

Urgently review, complete and report, propose competent agencies and individuals to consider and resolve legal procedures of the project to quickly deploy and implement the project in accordance with legal regulations.

Concentrate adequate resources on projects that are about to be completed, large projects with high feasibility to put into operation soon, exploit to recover capital, create cash flow for businesses and increase supply to the market.

Review and restructure capital sources; focus on handling bad debts and due debts to create the basis and conditions for accessing credit sources, bonds, securities... to implement projects...

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