(VOVworld)-Prime Minister Nguyen Xuan Phuc told a recent teleconference that the Government will focus on building more social housing. This is good news for low-income people, who are in desperate need of affordable houses.
There is a huge demand for affordable housing among low-income families in Vietnam. Over the past 5 years, the supply has only met 37% of the demand in urban areas and industrial parks. Prime Minister Nguyen Xuan Phuc stressed this shortage is making life harder for workers.
“Affordable housing for working-class citizens is a pressing issue. An estimated 1.5 million workers, particularly in industrial parks have been unable to find permanent housing”, said Prime Minister Nguyen Xuan Phuc.
 |
PM Nguyen Xuan Phuc chairs the teleconference on social housing development
|
The Prime Minister noted that the Government will issue a directive, asking localities to create social housing programs.
“This effort will require the will and determination of authorities at all levels. There are many ways to build social housing, including enlisting employers’ involvement”, Mr. Phuc added.
Deputy Prime Minister Trinh Dinh Dung said that social housing development can be a profitable investment.
“It’s time to attract more private investment to social housing projects. Mobilizing this capital will ease the housing burden”, Mr. Dung elaborated.
The Finance Minister is working on credit, tax and interest incentives to mobilize all available resources for affordable housing development to reduce state costs in this area.