The goal is part of a national social housing mega-project to construct at least 1 million apartments for low-income earners and workers in industrial parks for the 2021-2030 period.

In a report submitted to the Government, the Ministry of Construction reported that a number of recently approved laws on land, housing, real estate business, and credit institutions have put forward many mechanisms and policies to remove difficulties, increase incentives and support, and promote the development of social housing for the designated beneficiaries.

As many as 1,249 land lots covering a total of 8,390 hectares have been planned nationwide for such blocks of apartment, and 27 localities have announced 63 projects eligible to get access to the VND120,000 billion credit package with a total of more than VND27,966 billion, said the Ministry of Construction.  

As of February 5, 2024, about VND416 billion had been disbursed for five social housing projects in Binh Duong, Quang Ninh, Bac Ninh, Lang Son, and An Giang provinces. However, the disbursement of the VND120,000 billion credit package remains slow.

The Ministry of Construction is scheduled to launch the plan to build 130,000 apartments for low-income earners and workers in industrial parks on February 2024.

VOV