Over 200 housing projects for low-income people and industrial workers are in desperate need of investment funding. Of those projects, only 43 have received approval for preferential loans.
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| Housing projects for the low-income struggle as there isn't enough funding. (Illustrative photo) |
In a recent report to the Prime Minister, the Ministry of Construction shared that there are 33 low-income housing projects with a total investment of VND 2.5 trillion (USD 132 million) and 24 housing projects for industrial workers with an investment of VND 2.6 trillion (USD 137 million) that are currently under construction across the whole nation.
Deputy Minister of Construction Nguyen Tran Nam said that lack of investment funding from the State is the reason why the implementation of housing policy in urban areas has been considerably slow.
According to statistics, about 130 housing projects for the low-income market and 71 housing projects for industrial workers are currently short of investment funding. Pilot preferential loans from the Ministry of Construction in coordination with the Vietnam Development Bank have been forwarded to projects across key locations in the city. However, until now, only 32 low-income housing projects and 11 housing projects for industrial workers have been approved for loans.
Other capital sources such as loans from domestic credit institutions, investment loans from foreign businesses (FDI) and loans from international credit institutions (ODA) are actively being sought after in order for the implementation of these housing projects to progress.