"Developing social housing must prioritize social security and equity, foster motivation for population growth, and cultivate vibrant, green, clean, and aesthetically pleasing urban areas, all aimed at delivering benefits to the populace, ultimately serving the people." This statement reflects one of the guiding principles articulated by Prime Minister Pham Minh Chinh during the recent national online conference focused on addressing challenges and promoting the advancement of social housing.
Social Security
According to the Ministry of Construction, to date, ten localities nationwide have incorporated social housing development targets into their annual and five-year socio-economic development plans, including Hanoi, Ho Chi Minh City, and Binh Duong. Additionally, thirty localities have established plans to execute the Project aimed at constructing a minimum of one million social housing apartments during the 2021-2030 period, as approved by the Prime Minister, with Binh Duong being one of them. In terms of planning and land allocation for social housing development, 1,309 sites have been designated nationwide, encompassing a total area of 9,737 hectares, of which Binh Duong accounts for 408 hectares. From 2021 to the present, the country has initiated 655 social housing projects, comprising 593,428 units. Of these, 103 projects have been completed, totaling 66,755 units, 137 projects have commenced construction, amounting to 114,618 units, and 415 projects have received investment policy approval, representing 412,055 units.
In Binh Duong, the development of social housing has yielded significant outcomes, establishing the region as a notable leader in the national landscape of social housing initiatives. Specifically, from 2011 to 2015, Binh Duong attracted 82 investment projects in social housing, encompassing a total floor area of 3.8 million m² and benefiting 238,325 individuals, with a total investment of 19,034 billion VND. During the period from 2016 to 2021, an additional 18 social housing investment projects were initiated, contributing a further 1.33 million m² of floor area. In 2024 alone, Binh Duong developed nearly 15,900 social housing units across 54.1 hectares, amounting to 1.2 million m² of floor space.
According to the Provincial People's Committee, Binh Duong is designating additional land for the development of housing for workers. The province aims to construct 160,325 social housing units by 2030, comprising 155,289 apartments and 5,036 townhouses. In 2025, the Department of Construction has outlined key objectives, including: increasing the average housing area per capita to 33.5 m²/person; achieving an urbanization rate of 85%; ensuring that 96.7% of households have access to clean, hygienic water; and constructing approximately 20,000 new social housing units.
Priority extended to lower lending interest rates
During the online conference, the Ministry of Construction recommended that the State Bank of Vietnam reassess and further extend the preferential loan program for individuals and households seeking to buy, rent, or hire-purchase social housing in accordance with the social housing policy. The Vietnam Bank for Social Policies instructs local Social Policy Banks to offer preferential loans from the central budget allocated for households and individuals to acquire or hire-purchase social housing in compliance with established regulations.
Drawing on research that highlights international experiences, along with over 15 years of involvement in the construction of workers' housing and social housing in Binh Duong, Becamex IDC Corporation has proposed seven strategic solutions. These include the establishment of a National Housing Fund linked to detailed planning, which will be utilized to invest in social housing projects and affordable commercial housing, while also supporting public transport infrastructure development programs, transit-oriented development (TOD) models, and other social infrastructure initiatives; the creation of a National Housing-Income Database; the simplification of legal procedures; the development of a comprehensive set of standards for social housing; and the integration of social housing with community and public services.
During the conference, Prime Minister Pham Minh Chinh underscored that investment in social housing development constitutes an investment in progress, necessitating the collective effort of the entire political system. The development of social housing must guarantee social security and equity, foster population growth, and cultivate vibrant, green, clean, and aesthetically pleasing urban areas, all aimed at benefiting the populace. The Prime Minister urged local authorities to revise social housing development plans by the second quarter of 2025; to effectively allocate and expedite the resolution of land resources for social housing construction; and to ensure that the design and construction of social housing adhere to architectural standards that are compatible with the region's climate and culture.
Concerning the credit room, Prime Minister Pham Minh Chinh urged banks to allocate capital for the development of social housing beyond the credit limits established at the beginning of the year, emphasizing the need to prioritize the reduction of interest rates for loans designated for social housing projects. For those social housing initiatives that have appointed investors, the Prime Minister called for these investors to expeditiously finalize legal procedures to commence construction. Local authorities and relevant agencies are to assist in streamlining administrative processes for enterprises while ensuring that infrastructure is both adequate and cohesive. Additionally, ministries, departments, and localities are to concentrate on social security matters, with particular emphasis on the eradication of dilapidated housing and the establishment of boarding schools for children.
Prime Minister Pham Minh Chinh has called for the establishment of a National Housing Fund, which is to be finalized by March 2025. This fund must incorporate legal capital sources, including state investment. The Prime Minister has tasked the Government Office with leading the initiative, in collaboration with relevant ministries and agencies, to review and reduce administrative procedures by at least 30% in 2025. Additionally, he has directed the Vietnam Association of Architects to initiate a national competition for social housing architecture design, aimed at identifying exemplary designs suitable for urban areas and regions with a high concentration of workers, with a deadline for completion set for April 30. |
Reported by Phuong Le - Translated by Vi Bao
