Policy makers seek to develop social housing construction
Vietnam’s Ministry of Construction and Japan’s Ministry of Land, Infrastructure, Transport and Tourism held a workshop to seek to generate more capital for social housing construction in Hanoi on December 4.
Vietnam’s Ministry ofConstruction and Japan’s Ministry of Land, Infrastructure, Transport andTourism held a workshop to seek to generate more capital for socialhousing construction in Hanoi on December 4.
Deputy Minister of Construction Nguyen Tran Nam said the VietnamNational Assembly ratified the amended law on housing and real estatebusiness, which will take effect in early July next year.
The law will help the housing market in Vietnam become moreattractive, especially for foreigners living and working in the country,who wish to run investments in the field, as well as creating a healthyand stable estate market.
Akihiro Gozawa,an official from the Japanese Ministry, shared that the housing policyin Japan has changed in accordance with population movements and focushas been given to the quality of houses to ensure their long-run use.
He introduced participants to the JapanHousing Finance Agency (JHFA), which was established in 2007 in chargeof supporting private financial institutions via the issuance ofgovernment bonds and offering loans for post-disaster housingrehabilitation.
The agency will providelong-term and low-interest loans for house buyers or constructors.Meanwhile, the public houses for lease will be provided by the centraland local governments at prices lower than that of the market, he said.
During the workshop, participants discussedexperience on how to mobilise middle and long term capital to helplow-income people and social welfare recipients in urban areas buy theirown houses.
▨ They also exchanged views withJapanese experts in service of the building of documents guiding theearly enforcement of the Vietnamese amended law on housing and realestate business.-VNA
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