On the afternoon of April 11, Deputy Prime Minister Tran Hong Ha worked with the Prime Minister's Working Group (Working Group) to review, urge, and guide to remove difficulties and obstacles in implementing the project. Real estate projects for localities and businesses.
Deputy Prime Minister Tran Hong Ha requested to clearly determine whether the cause of problems with real estate projects is due to local implementation organizations, or due to inadequacies in guiding circulars, decrees, laws... - Photo: VGP/Minh Khoi
Ensuring preferential credit capital for real estate
Reporting to the Deputy Prime Minister on the work of ensuring credit capital, Standing Deputy Governor of the State Bank (SBV) Dao Minh Tu said after Resolution 33/NQ-CP on a number of solutions to remove and promote real estate market develops safely, healthily, and sustainably, the State Bank has lowered operating interest rates, requested commercial banks to lower interest rates, and lend to all businesses. including the real estate sector; Direct home buyers in all segments.
For the 120,000 billion VND credit package, the State Bank has directed commercial banks, from April 1, to start lending to investors (a reduction of 1.5%/year compared to the current interest rate) and home buyers 1 times (a reduction of 2%/year compared to the current interest rate) of social housing projects, worker housing, projects to renovate and rebuild old apartments.
“Based on the criteria guided by the Ministry of Construction, localities will identify social housing projects, worker housing, renovation and rebuilding of old apartments as a basis for commercial banks to carry out the process for preferential credit loans," Mr. Dao Minh Tu said.
Standing Deputy Governor of the State Bank Dao Minh Tu reports to the Deputy Prime Minister on ensuring credit capital for the real estate sector - Photo: VGP/Minh Khoi
The State Bank is also preparing to issue a circular guiding commercial banks to extend and postpone credit loans, including in the real estate sector, that cannot be repaid due to the objective impact of the economy on the basis of ensure the safety of credit institutions.
State Bank leaders requested the Ministry of Construction to set criteria for classifying investors and real estate segments to assess risks as a basis for the State Bank to direct the risk provisioning rate of commercial banks when providing loans. Credit.
The Deputy Prime Minister noted that the State Bank and commercial banks should organize inspection and supervision of the implementation of credit policies to support the real estate sector according to Resolution 33/NQ-CP, project of 1 million social housing units, Credit package of VND 120,000 billion.
Clarify responsibilities and solutions to handle problems at each level
Reporting on the results of reviewing and working with a number of provinces and centrally-run cities, Deputy Minister of Construction Nguyen Van Sinh said that problems with ongoing housing and urban area projects are mainly related to to institutions and legal regulations in land management, planning, investment, housing, urban areas and construction; credit funds; developing social housing, issuing corporate bonds...
Emphasizing that the real estate market plays an important role in the economic "ecosystem": Industry, services, tourism, accommodation, material production, finance, banking,... impacting the production chain exports such as materials, iron and steel, household appliances, impacting the capital market, credit, and labor market, so the Deputy Prime Minister requested that based on the inspection results, group the problems to identify solutions to "clearly identify the cause due to local implementation, or due to inadequacies in guiding circulars, decrees, laws...".
Members of the Working Group discussed ways to overcome problems of real estate projects regarding institutions and legal regulations in land management, planning, investment, housing, urban areas and construction; credit funds; social housing development; corporate bond issuance... – Photo: VGP/Minh Khoi
Deputy Minister of Natural Resources and Environment Le Minh Ngan said that many problems reported by businesses and localities are mainly related to the organization and implementation of projects such as projects with a portion of public land interspersed, some projects in the case of "dividing plots, selling plots", or problems related to land use plans, conversion of land use purposes of equitized enterprises that have specific instructions but have not organized the implementation according to regulations. of the law;... Some recent problems have been resolved by the Government in the Decree amending a number of Decrees detailing the implementation of the Land Law. Besides, there are also a number of shortcomings and limitations in practice that need to be amended, supplemented, and adjusted in circulars, decrees, laws... in the near future.
The Deputy Prime Minister requested the Ministry of Natural Resources and Environment and the Ministry of Justice to coordinate and support ministries and branches to urgently review and amend guiding circulars according to simplified procedures; Propose issues that need to be amended in related decrees according to the "one decree amending many decrees" plan; Synthesize problems and inadequacies in current legal regulations and cases of illegal implementation to report and propose to competent authorities for comments.
At the meeting, leaders of the Ministry of Planning and Investment and the Ministry of Construction also mentioned the fact that many real estate projects are facing problems and are slow to adjust investment policies and implement transfer rights for housing projects and residential areas. urban; Build-transfer (BT) projects had to be paused after the Public-Private Partnership (PPP) Investment Law took effect... One of the important reasons is due to the lack of uniform application of legal regulations. sets, inconsistent, overlapping or not yet regulated by law.
Regarding this issue, the Deputy Prime Minister assigned the Ministry of Planning and Investment, the Ministry of Construction, and the Ministry of Natural Resources and Environment to urgently review and add content that needs to be amended and supplemented into relevant draft laws (Law on Real Estate Business, Law on Housing ...) is submitting to the National Assembly to ensure consistency, synchronization, practicality and propose implementation provisions that will take effect as soon as the bill is approved by the National Assembly.
"Localities urgently review and immediately remove problems caused by organizational work not being carried out in accordance with the law, complete and report to the Prime Minister in April 2023," the Deputy Prime Minister directed.
The Ministry of Public Security reviews, verifies, and clarifies real estate projects that violate the law, are conducting criminal investigations, are related to economic crimes,... to classify, remove, and not affect to projects that comply with legal regulations.
“Media and press agencies need to reflect and fully report to people and businesses about Resolution 33/NQ-CP, policies to support, remove and promote the real estate market, but Do not assist or legalize violations that cause loss of State assets, synchronously resolve social security policies, including housing for people, contributing to socio-economic development. Deputy Prime Minister stated clearly.
Source: Ministry of Natural Resources and Environment
