Which province is leading in loan demand from the 120,000 billion VND credit package?

Recently, Minister of Construction - Nguyen Thanh Nghi has explained the implementation of the preferential credit package with interest rate of 120,000 billion VND for the development of social housing (NOXH). Specifically, after the State Bank issued a document with specific instructions on the implementation principles related to the preferential period, credit package interest rate, implementation period... The Ministry of Construction has issued a document with instructions on determining the list of projects, subjects and conditions for preferential loans.

The Ministry of Construction also authorized the provincial People's Committee to be responsible for checking legal procedures, thereby making a list of social housing projects, worker housing, and apartment renovation projects to publicly announce on the province's electronic information portal so that banks have a basis for application and lending. According to records from localities, there have been 100 projects eligible for loans from the 120,000 billion VND package.

Currently, 6 localities have announced their borrowing needs in the 120,000 billion VND credit package. Specifically, Bac Giang province is 4,256 billion VND; Hai Phong is 3,892 billion VND; Binh Dinh is 1,832 billion VND; Phu Tho is 441 billion VND; Da Nang is 545 billion VND; Tra Vinh is 420 billion VND.

Which province is leading in the demand for loans from 120,000 billion VND? Image 1 — Due to having many industrial parks, Bac Giang is in high demand for loans to promote the development of social housing and housing for workers.

To promote the development of social housing, industrial park workers' housing and the effectiveness of the 120,000 billion VND package, the Ministry of Construction will continue to coordinate with the State Bank and local ministries and branches to remove obstacles in policy mechanisms and laws such as focusing on amending the Housing Law and other relevant legal regulations.

Regarding the development of social housing, recently Bac Giang and Ba Ria - Vung Tau provinces are two localities that have announced the list of social housing construction projects in need of loans under the preferential program from the 120,000 billion VND credit package.

Specifically, according to the list recently announced by the People's Committee of Bac Giang province, there are 12 projects to build social housing and workers' housing in need of loans in the province. Of these, there are 2 projects for low-income social housing and 10 projects for workers.

According to information from the People's Committee of Ba Ria - Vung Tau province, in the first phase, the province has only one social housing project in the Lan Anh 7 extended residential area (Lan Anh 7B), in Nghia Thanh commune, Chau Duc district. The project has a construction land area of about 10,174 m2, the number of apartments is 187, the total investment capital is 200.5 billion VND. Of which, the investor's loan demand is 150 billion VND. At the time of reporting, the project has constructed 84 apartments.

Previously, regarding the VND120,000 billion credit package, the Prime Minister also issued Official Dispatch 469/CD-TTg dated May 25, on removing obstacles and promoting the safe, healthy and sustainable development of the real estate market, requesting the State Bank of Vietnam to preside over and coordinate with the Ministry of Construction and relevant ministries and branches to implement the VND120,000 billion credit program.

In particular, the main force is 4 state-owned commercial banks under the direction of the Government in Resolution No. 33/NQ-CP and directing other joint stock commercial banks to actively participate in implementing 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 of 2021 - 2030".

The Prime Minister also requested the People's Committees of provinces and centrally-run cities to announce and publicize on the Electronic Information Portal the list of projects and send a document to the State Bank of Vietnam the list of social housing projects, worker housing projects, and projects to renovate and rebuild old apartments so that commercial banks have a basis to apply for loans under the 120,000 billion VND credit program.

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