The Prime Minister has just assigned the Ministry of Construction to research and propose a plan to issue government bonds to support interest rates for investment and construction of social housing.
The Government Office has just sent a document to the Minister of Construction on interest rate support and removing difficulties for social housing development.
Accordingly, the Prime Minister assigned the Minister of Construction to preside over and coordinate relevant agencies based on the Prime Minister’s policies and directions at the online conference to remove difficulties and promote social housing development to research, Propose a plan to issue government bonds and support interest rates to support investment activities and build social housing, reporting to the Prime Minister in April 2024.
Regarding the VND 120,000 billion package, implementing Resolution 33 of the Government, the State Bank (SBV) has directed 4 commercial banks to commit to a VND 120,000 billion support package for loans to buy and invest in social housing development. with loan interest rates lower than the average commercial loan interest rates of 4 banks from 1.5-2%.
The Prime Minister has just assigned the Ministry of Construction to research and propose a plan to issue government bonds to support interest rates for investment activities and social housing construction. Photo: Minh Hien
Every 6 months, the State Bank will base on commercial loan interest rates in the market to adjust loan interest rates of the VND 120,000 billion package.
At the conference to remove difficulties and promote social housing development chaired by the Prime Minister, the State Bank said it had called for and received the consent of 4 state-owned commercial banks and now there is 1 more bank. More joint stock commercial goods participate; The total package value is currently up to 125,000 billion VND.
At this conference, leaders of the Ministry of Construction also assessed that the capital of VND 120,000 billion has not been disbursed effectively.
The reason is that the publication of the list of social housing eligible for loans is still limited. To date, 127 projects, with a scale of 114,934 units, have started construction. However, only 28 localities have announced a list of 68 projects eligible for loans under the Program, with a loan demand of more than 30,000 billion VND.
Thus, there are still 61 projects that have started construction but have not been included in the list of localities eligible for loans.
Also according to the Ministry of Construction, although the State Bank of Vietnam has twice lowered the capital interest rate by VND 120,000 billion, the interest rate applied in the first half of 2024 is 8%/year for investors and 7.5% for investors. home buyers; The short preferential interest rate period (3 years for investors, 5 years for individual customers) does not really attract borrowers.
Therefore, the Ministry of Construction requested the State Bank to consider lowering the lending interest rate for the VND 120,000 billion support capital in accordance with practical conditions in each period. As well as removing difficulties and obstacles to effectively deploy this support capital.
