Nghị quyết 33/NQ-CP của Chính phủ về một số giải pháp tháo gỡ và thúc đẩy thị trường bất động sản phát triển an toàn, lành mạnh, bền vững

RESOLUTION

ON CERTAIN SOLUTIONS TO RESOLVE DIFFICULTIES AND PROMOTE THE REAL ESTATE MARKET TO DEVELOP SAFELY, HEALTHILY, AND SUSTAINABLY

THE GOVERNMENT

Pursuant to the Law on Government Organization dated June 19, 2015; the Law on amendments to the Law on Government Organization and the Law on Organization of Local Government dated November 22, 2019;

Pursuant to Decree No. 39/2022/ND-CP dated June 18, 2022 of the Government on promulgation of the Government's working regulations;

Based on the discussion and votes of the Government members, the opinions of the delegates attending the conference and the conclusions of the Prime Minister at the Conference to resolve difficulties and promote the real estate market to develop safely, healthily, and sustainably,

HEREBY RESOLVES:

2022 is a year with many difficulties and challenges for the Vietnamese economy in general and the real estate sector in particular. However, under the timely, flexible, creative, drastic and effective direction and management of the Government, the Prime Minister and ministries, departments, central agencies and local governments; with the consensus and support of the business community, the people and the help of international friends, Vietnam has still maintained macroeconomic stability, controlled the inflation, promoted growth, ensured major balance, recovered labor market, ensured social security, and kept improving people's living standards, etc.

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In order to resolve difficulties for the real estate market, the Prime Minister established a Prime Minister's Working Group and issued multiple Official Letters (No. 1156/CD-TTg, No. 1163/CD-TTg, No. 1164) /CD-TTg…), directing ministries, central agencies and local governments to perform many tasks and solutions in the short term as well as in the long term to resolve difficulties and promote the real estate market to develop safely, healthily, and sustainably. The working group, the Ministry of Construction, the Ministry of Finance, the State Bank of Vietnam and the ministries, central agencies and local governments have urgently and actively implemented and performed the assigned tasks and achieved a number of specific results.

Currently, the situation of the real estate market has changed, but the market still has many difficulties in terms of institutions, credit sources, bonds, etc. and local enforcement that need to be resolved and promoted, the Government shall uniformly direct ministries, central agencies, and local governments as follows:

I. VIEWPOINTS, OBJECTIVES

1. Viewpoints

a) Thoroughly grasp and closely follow the guidelines of the Party and the policies and laws of the State, proactively, flexibly, creatively, promptly and effectively direct them with a high sense of responsibility, ensuring compliance with the situation and practical requirements. All relevant entities must uphold responsibility; join hands to resolve difficulties for the real estate market to develop safely, healthily, openly, transparently and sustainably.

b) Plan and invest in developing the ecosystem of industrial real estate, service real estate, tourism and urban residential real estate to harmonize supply and demand; houses are built to be inhabited, so it is required to develop production, business, industry, services, and road infrastructure systems.

c) Focus on directing to resolve difficulties and restore the real estate market along with risk control; attach importance to the supervision and regulation of the market; no criminalization of economic - civil relations; protect officers and those who do the right thing.

d) Improve institutions and policies related to the development of the real estate market to ensure the feasibility, consistency and synchronization of the legal system in order to facilitate the resolution of difficulties and promote the real estate market to develop safely, healthily, openly, transparently and sustainably.

dd) Have appropriate policies to promote the market, focus on social security, create opportunities for low-income people; promote the development of social housing, workers' houses to meet the housing needs of low-income persons.

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g) Make a harmonious, reasonable and effective combination between fiscal policy and monetary policy, adopt the monetary policy in a flexible, safe and sure manner, expand fiscal policy in a reasonable way, ensure efficient and strict management of prices and markets.

h) Mobilize resources of the society, especially large enterprises and real estate economic groups; have a mechanism to attract foreign investors' resources to develop the real estate market and develop social housing.

i) Respect and comply with the law of markets, laws of supply and demand, laws of competition, the real estate sector is equal to other industries and sectors.  Real estate prices must conform to the law of markets, which is the driving force to promote development.

2. Objectives

a) Resolve difficulties and problems, especially in terms of institutions, implementation and capital sources for the real estate market, in which:

- Resolve problems with regulations of law and procedures as well as implementation of real estate projects, especially related to investment, land, construction, auction, etc.;

- Highly focus on resolving problems for ongoing projects to complete soon, creating supply for the market.

- Resolve difficulties in credit sources, bonds, investment funds... to facilitate capital flows for the real estate market, contributing to increasing market liquidity.

b) Promote the development of the real estate market, increase the supply, and also adjust the structure of real estate market products more rationally, focusing on the development of social housing, housing for workers, housing in line with the people's income, in which:

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- Promote the real estate market through policies to support capital sources to initiate projects in a feasible and effective way.

- Promote the development of social housing, housing for workers, target to complete at least 1 million social houses by 2030.

c) Regularly and effectively monitor the market situation in order to promptly take appropriate measures and solutions to prevent the market from "hot development" or "freezing", prevent rumors, speculation, overpricing real estate to make profit, and imbalance between supply and demand, and ensure healthy operation according to the market mechanism.

II. MAIN TASKS, SOLUTIONS

1. Institutional improvement

The Government continues to study and improve the institutions, build a legal system related to construction investment, housing and real estate business to ensure synchronous and feasible regulations, in which:

a) Promptly formulate and submit to the National Assembly for consideration and approval of the Law on Land (amended), the Law on Housing (amended), the Law on Real Estate Business (amended), the Law on Bidding (amended), the Law on Auction (amended), Law on Prices (amended), Law on Credit Institutions (amended), etc.

b) Actively research, develop and submit to the National Assembly for consideration and promulgation "Resolution of the National Assembly on piloting a number of policies to promote development of social housing".

c) Urgently amend and supplement Decrees guiding the implementation of the Law in order to resolve current shortcomings, limitations, obstacles and difficulties related to the implementation of construction investment, business, and transfer of real estate projects, more suitable to the actual situation and ensure the consistency and synchronization of the legal system.  Which focuses on:

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- Finalize and promulgate the "Decree on amendments to Decrees guiding the implementation of the Land Law" to solve difficulties and problems related to land procedures, land valuation, and issuance of certification of land use rights, ownership rights for non-residential real estate (tourism real estate, resorts, offices, etc.).

- Research, develop and promulgate the "Decree on amendments to the Decree on elaboration of and guidelines for the Investment Law".

d) Study, formulate and promulgate the "Decree on the process, procedures for implementing investment projects on construction of commercial houses and urban areas" so that the local governments can implement them smoothly and uniformly. Besides, local governments need to immediately issue regulations, guidelines and solutions for problems falling under their decision-making authority; problems falling under the deciding-making authority of the Government or the Prime Minister shall be reported to the Government or the Prime Minister for consideration and decision.

dd) Improve the mechanisms and policies to exploit and mobilize maximum financial resources at home and abroad for housing development in particular and the real estate market in general.

2. Promoting social housing development

a) While waiting for the National Assembly to pass the Law on Housing (amended) in order to comprehensively and synchronously resolve current difficulties and obstacles in housing development in general and social housing development in particular, the Government formulates and proposes to the National Assembly to promulgate the "Resolution of the National Assembly on pilot policies to promote social housing development" to immediately resolve a number of specific difficulties and obstacles in order to create motivation for social housing development in the coming time; in which special attention is paid to the major problems in recent years, such as:

(1) Land allocation for investment and construction of social housing projects; (2) the planning and arrangement of land fund for social housing development; (3) the selection of investors in social housing projects; (4) benefits and incentives for investors; (5) the determination of selling prices, rental prices, and rental-purchase prices of social housing; (6) the eligible entities and requirements for benefits of the social housing policy, etc.

b) Expeditiously complete, promulgate and effectively implement the Project “Building at least 01 million social housing apartments for low-income people and industrial park workers in the period 2021- 2030” to immediately resolve a number of specific difficulties and obstacles in social housing development, increase the supply in line with demand, and the ability of low-income people with high demand for housing to access.

c) Determine that investment in social housing development for low-income workers is an investment item in the medium and long-term capital sources of local governments.

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3. Credit capital

a) Flexibly and synchronously manage the monetary policy instruments, meet the demand for credit capital flows for socio-economic development; improve the institutions and policies to exploit and mobilize maximum financial resources at home and abroad for housing development in particular and the real estate market in general.

b) Enable businesses, home buyers and investors to quickly access credit sources; take appropriate handling measures for difficult real estate businesses (such as rescheduling principal, interest, restructuring debt groups, etc.); focus on feasible projects and loan plans, customers with financial capacity, ability to repay debt in full and on time; giving priority to residential real estate projects, meeting the real needs of the people, with efficiency and good liquidity such as social housing, renovation of old apartments, offices for lease, real estate for production. export, industry, tourism, etc.

c) Take appropriate and effective measures to reduce lending interest rates and support the real estate market.

4. Corporate bond capital

a) Direct and guide the capital mobilization (including bond issuance) of real estate enterprises on the stock market in accordance with law.

b) Control the capital mobilization of real estate enterprises on the stock market to avoid speculation, manipulation and overpricing.  Besides, enable enterprises (with sufficient capacity, financially healthy business) to mobilize capital for their recovery and development.

c) Inspect and supervise the compliance with the law on issuance, investment and provision of services on corporate bonds, especially private placement of bonds by real estate enterprises and credit institutions related to real estate businesses, businesses with large issuance volume, high interest rates, businesses with loss-making business results, and issuers without collateral.

d) Research and propose synchronous policies and solutions to develop the corporate bond market in a safe, healthy and sustainable manner.

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a) Raise the sense of responsibility of heads, officials and public employees; overcome psychological fear of making mistakes, fear of responsibility, etc.

b) Promote reform of administrative procedures, focusing on resolving difficulties in legal procedures of real estate projects in the local areas.

c) Accelerate approval of planning, approval of investment policies, selection of investors to implement real estate projects, financial obligations on land to increase supply for the market.

d) Promote development of social housing, housing for workers and renovate and rebuild old apartment buildings in the area.

6. Information and communication to restore trust, support the market and the operation of real estate businesses

a) Promote information and communication, clearly show the strong message and commitment of the Government and the Prime Minister to accompany the local governments and enterprises to resolve difficulties for the real estate market; do not criminalize economic - civil relations; protect the people and businesses that do the right thing; ensure harmony between the interests of the State, people and businesses.

b) Strictly and effectively control and censor social information channels that are inaccurate and unorthodox that may have negative impacts on people's psychology, investors, customers and the market, especially the information that can affect economic recovery and growth.

c) Make public transparent information, especially promptly disseminate and introduce new State policies, regulations and solutions on credit, bonds, stocks, real estate market situation, ... so that the society has accurate and official information, thereby stabilizing people’s psychology and stabilizing the market.

d) Strengthen supervision, strictly and promptly handle acts of providing inaccurate information, causing negative impacts on the operation of the financial, credit and real estate markets.

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1. Ministries, central and local agencies shall, according to their assigned functions, tasks and competence:

a) Keep urgently and strictly performing the tasks in Resolution No. 11/NQ-CP of the Government on the program of socio-economic recovery and development, Directive No. 13/CT-TTg dated August 29, 2022 on a number of solutions to promote safe, healthy and sustainable development of the real estate market; Officials (No. 1156/CD-TTg; No. 1163/CD-TTg; No. 1164/CD-TTg;...)  and Conclusion Notice No. 242/TB-VPCP dated August 10, 2022 of the Prime Minister at Online conference to promote social housing development for workers and low-income people.

b) Concentrate on elaborating and approving master plans, create synchronization, unification and stability of plannings; link the development of industry, services, tourism, infrastructure systems with urban development and housing projects to ensure a balance between supply and demand.

c) Accelerate the review, classification and handling of real estate projects that are having legal problems, projects that have to stop operating, or cannot bring products to market due to legal problems to free up land resources, investment capital, reducing the risk of bad debt credit.

d) Resolutely punish misconduct of officials such as being negligent, not fulfilling their responsibilities, fearing responsibility and harassing in the performance of their official duties, especially in planning approval, implementation of investment procedures, permits, bidding, auctions, land and real estate evaluation.

dd) Continue to effectively implement solutions to support the real estate market in association with housing policies for beneficiaries of incentive policies, low-income people, and housing for workers.  Strengthen the research, analysis and forecast of the market, especially the demand for types of industrial real estate, service real estate, tourism real estate o ensure supply for the market and promote production, job creation, housing demand by segments; facilitate access to capital for the housing segment for middle- and low-income people to promote the market to self-adjust in accordance with demand.

e) Direct, urge and guide in time to resolve difficulties in implementing legal procedures for real estate projects.

g) Promote the publication and transparency of information, ensure the effectiveness, timeliness and true nature of the situation, avoid misleading information, focus on dissemination and public announcement of new policies, regulations and solutions of the State on credit, bonds, stocks, real estate market situation.

2. Ministry of Construction

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b) Expeditiously complete and submit to the Government for consideration and promulgation the "Decree on amendments to the Decrees in the field of state management of the Ministry of Construction"; “Decree on the process, procedures for implementing investment projects to build commercial houses and urban areas”.

c) Actively research, develop and coordinate with the Ministry of Justice to research and develop a report to the Government to submit to the National Assembly for consideration and promulgation of "Resolution of the National Assembly on piloting a number of policies to promote development of social housing" at the session in May 2023.

d) Actively, proactively take charge and coordinate with ministries, central agencies in directing and guiding local governments and enterprises to effectively implement the Project "Building at least 01 million social housing apartments" for low-income people, industrial park workers in the period of 2021-2030" after being promulgated by the Government and the Prime Minister.

dd) Coordinate with the State Bank of Vietnam to implement a credit program of about VND 120,000 billion and specific credit packages for investors and home buyers of social housing projects, worker housing, projects on renovation and rebuilding of old apartment buildings wit at a more favorable interest rate than the market interest rate.  Take charge and coordinate with the State Bank of Vietnam and relevant ministries and agencies in determining the list of projects, eligible entities, conditions and criteria for benefits of the Program.

e) Coordinate with ministries and agencies in directing and guiding local governments and enterprises to implement Resolution No. 11/NQ-CP of the Government on the program of socio-economic recovery and development, and make a list of projects, review the land fund, complete legal procedures, select investors to implement projects of social housing, housing for workers in industrial zones, renovation and rebuilding of old apartments buildings.

g) Keep track of developments, trends and market needs (types and segments of real estate) and report to the Government and the Prime Minister. Actively coordinate with the Ministry of Information and Communications to disseminate policies, solutions and results to resolve difficulties and promote the safe, healthy and sustainable development of the real estate market.

3. State Bank of Vietnam

a) Expeditiously study and prepare a report to the Government to submit to the National Assembly the bill of the Law on Credit Institutions (amended) according to the provisions of the Law on Promulgation of Legal Documents.

b) Perform the tasks and solutions at Official Dispatch No. 1156/CD-TTg dated December 12, 2022 of the Prime Minister in order to provide credit capital for the economy, contribute to resolve difficulties and promote the real estate market to develop safely, healthily and sustainably, have high concentration of credit given to prioritized sectors and economic growth drivers, including social housing and worker housing.

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d) Preside over the implementation of a credit program of about VND 120,000 billion to direct commercial banks, of which the main ones are 04 state-owned commercial banks (Agribank, BIDV, Vietcombank, Vietinbank) for investors and buyers of social housing projects, workers' houses, projects on renovation and rebuilding of old apartment buildings with interest rates during the preferential period 1.5-2% lower than the average medium and long-term VND lending rates of state-owned commercial banks (including Agribank, BIDV, Vietcombank, Vietinbank) in the market and eligible non-state commercial banks with specific credit packages from time to time; coordinate with the Ministry of Construction and relevant ministries and agencies in determining the list of projects, eligible entities, conditions and criteria for benefits of the Program.

dd) Direct credit institutions to enable real estate project investors and home buyers to access credit sources; continue to spend credit capital for real estate projects that meet legal requirements, are able to sell products and abide by repayment plans; especially projects of social housing, worker housing, housing suitable to people's income and types of real estate for production, business and social security purposes with high efficiency, capable of repaying debt and developing in accordance with the direction of the Prime Minister in Official Dispatch No. 1164/CD-TTg dated December 14, 2022 on resolving difficulties for the real estate market and housing development.

e) Direct credit institutions to assess the production and business situation of enterprises, the potential of each project and the type of real estate segment such as residential real estate that is suitable for the people's income, social housing, housing for workers; industrial, tourism real estate, offices, ... to consider adjusting lending requirements without applying the same policies to risky projects.

g) Consider appropriate adjustment of risk coefficients for different real estate segments; review regulations related to lending and investment in corporate bonds for consistency and in line with the Government's policy on development of the corporate bond market.

4. Ministry of Finance

a) Finalize the bill of the Price Law (amended) and submit it to the National Assembly for consideration and approval at the 5th session of May 2023;

b) Thoroughly review and evaluate the solvency and payment capacity of corporate bond issuers, including real estate businesses, especially bonds that are due within 2023;

c) Effectively perform the tasks assigned by the Prime Minister in Official Dispatch No. 1163/CD-TTg dated December 13, 2022 on the corporate bond market, especially urgently review, carefully review, propose the amendments, improvement of legal documents related to the issuance of corporate bonds, especially the private placement in the domestic market and the offering for sale of corporate bonds to the international market; adopt harmonized, reasonable and effective measures and solutions to restructure bond debts, restructure interest rates, payment terms, payment conditions, suitable to the practical situation, in the spirit of "harmonizing benefits, sharing difficulties and risks", in accordance with the law; research how real estate businesses negotiate, swap debt bonds with assets, real estate...

d) Ensure that the capital mobilization activities of real estate businesses on the stock market are healthy and open; control and eliminate speculation, manipulation, and overpricing.

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a) Finalize the bill of the Land Law (amended) and submit it to the National Assembly for consideration and expected approval at the 6th session of October 2023 to ensure the uniformity, consistency and feasibility of the law system.

b) Expeditiously prepare and submit to the Government for consideration and promulgation the "Decree on amendments to Decrees on guidelines for the Land Law"; guiding and resolving difficulties and problems related to land procedures.

c) Concentrate on building and perfecting the land information and data system and connecting with the national population database system of the Ministry of Public Security.

6. Ministry of Planning and Investment

a) Finalize the bill of the Bidding Law (amended) and submit it to the National Assembly for consideration and approval at the 5th session of May 2023;

b) Expeditiously review, research, develop and promulgate the "Decree on amendments to the Decree on elaboration of and guidelines for the Investment Law".

c) Strengthen inspection, direction and urge local governments, urgently implement provincial planning.

d) Strengthen inspection, direction, urge and guide local governments and enterprises on the provisions of the law on investment and bidding to resolve difficulties and obstacles in approving and adjusting policies on real estate investment and bidding.

dd) Take charge and cooperate with the Ministry of Finance, the Ministry of Construction, the State Bank of Vietnam and relevant ministries, branches and organizations in improving the mechanisms and policies to exploit and mobilize maximum financial resources at home and abroad for housing development in particular and the real estate market in general.

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a) Study and develop a bill of the Law on Auction (amended) and report it to the Government to submit to the National Assembly for consideration and comments at the 6th meeting in October 2023, for approval at the meeting in May 2024.

b) Cooperate with relevant ministries and agencies in studying and improving the legal system related to real estate.

c) Cooperate with the Ministry of Construction in developing a report to the Government to submit to the National Assembly for consideration and promulgation of "Resolution of the National Assembly on piloting a number of policies to promote development of social housing" at the May 2023 session.

8. Ministry of Public Security

Take charge and coordinate with competent authorities in supervising, strictly and promptly handling violations of the law in real estate investment and business activities, and real estate brokerage activities and acts of giving inaccurate information, causing negative impacts on the operation of financial, credit and real estate markets.

9. Ministry of Information and Communications

a) Focus on directing and strictly and effectively controlling information channels; coordinate with the Ministry of Public Security to take measures, systems and human resources to control, detect, make statistics, and prevent inaccurate and unorthodox social information channels that may have negative impacts on psychology of the people, investors, customers and the market, especially information affecting economic recovery and growth.

b) Coordinate with ministries and agencies to strengthen and promote the provision of official, accurate and true information on the nature of the situation, avoid false information to stabilize the psychology of the people, investors and customers, and stabilize the market.

10. Local governments

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b) Expeditiously review and make a list of housing and real estate projects in the local areas; find out specific causes and reasons for projects that have been approved for investment policies but have not yet been implemented or are delayed in implementation.  On that basis, focus on solving legal difficulties and preparing investment procedures for housing projects to increase supply for the market.  If there are problems beyond their competence, they shall report and propose to the competent authorities.

c) Expeditiously formulate and approve master plans, plans on land use, construction planning, programs and plans on housing development for 5 years and annually to serve as a basis for approval of investment policies in projects on housing development, increase supply for the market.

d) Focus on further promoting the auction of land use rights; bidding for projects using land; approve the project investment policy; enhancing investor selection, especially the determination of land prices, calculation of use fees, land allocation and land lease for the implementation of housing projects in order to increase the supply for the real estate market.

dd) Speed up the reforming of administrative procedures; speed up the implementation of inter-administrative procedures; level 4 electronic administrative procedures, stop pushing responsibility out, causing difficulties or delays in handling real estate project procedures in the local areas.  Also, strengthen the direction, administration, urging, guidance and supervision of the work of the officials and public employees in order to promptly detect and resolve difficulties and problems that arise not to prolong time, backlog work.

e) Focus on implementing the Government's Resolution No. 11/NQ-CP on the program of socio-economic recovery and development and effectively implement the project "Building at least 01 million social housing apartments for low-income people and industrial park workers in the 2021-2030 period.

g) Expeditiously gives the assessment result as to real estate projects that have been reviewing legal procedures so that projects can soon continue to be implemented, especially large projects; projects to meet people's real needs, social housing, renovation of old apartments and real estate rental demand for production, industry, tourism, etc.

h) Actively hold meetings, work directly with each enterprise and each project, especially large ones, to listen to the difficulties and problems of enterprises and projects in order to promptly solve them, immediately resolve difficulties and problems within their competence, stop pushing responsibility out or making delays in handling administrative procedures.

i) Further promote the review, submission, approval (approval for adjustment) of general planning, zoning planning, detailed construction planning for the implementation of housing, real estate projects, etc. in the area.

k) Promulgate specific regulations, according to its competence to implement legal documents on land, housing and other relevant laws such as: conditions, criteria, scale and ratio for separating the land area into an independent project for the land areas managed by the State (public land) interspersed in the commercial housing projects as prescribed in Clause 13, Article 1 of Decree 148/2020/ND -CP; compensation coefficient k when renovating and rebuilding old apartment buildings according to specific local conditions specified in Clause 1, Article 21 of Decree 69/2021/ND-CP...

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11. Real estate businesses are responsible for prioritizing all resources for debt payment, especially bond debts; actively research to restructure prices and products in line with the actual needs of the market.

The Government assigns the Government Office to take charge and coordinate with ministries, central agencies, local governments and relevant agencies and units in monitoring, urging and inspecting the implementation of this Resolution; regularly summarize and report to the Government and the Prime Minister on the situation and results of the implementation of this Resolution; promptly report and propose to the Government and the Prime Minister on problems arising and beyond their competence./.

ON BEHALF OF THE GOVERNMENT
PP. THE PRIME MINISTER
DEPUTY MINISTER




Tran Hong Ha