Conversion of commercial housing projects into social housing a key focus for Construction Ministry.
The Ministry of Construction (MoC) has asked departments and local authorities to introduce favorable conditions for investors to convert commercial housing projects into social housing.
The Ministry asked for the continuing reform of administrative procedures, assisting investors to complete the paperwork necessary on the conversions as quickly as possible.
For commercial housing projects that have been approved for conversion into social housing, MoC asked investors to implement them quickly and effectively in order to ensure completion is on schedule, and said it will revoke any projects that experience prolonged delays.
According to Minister of Construction Trinh Dinh Dung, many localities in the country, especially in Hanoi and Ho Chi Minh City, have recently implemented the National Housing Development Strategy quite quickly, resolving problems and cutting red tape to promote the development of social housing.
Vietnam has now completed 102 social housing projects and the construction of another 150 is underway. In the 2015-2020 period the country is estimated to need 200,000 additional social housing apartments.