The other members are from the Government Office, Ministry of Public Security (MPS), Ministry of Finance (MOF), Ministry of Natural Resources and the Environment (MONRE), Ministry of Planning and Investment (MPI) and State Bank of Vietnam (SBV). 

The working group is responsible before the Prime Minister for checking projects, supervise and speed up, help solve difficulties during the implementation of real estate projects for localities and businesses in Hanoi, HCM City and some other centrally-run cities/provinces.

It has the function of collecting information and reporting to the Prime Minister for direction to solve and remove difficulties related to the implementation of real estate projects with the contents within the jurisdiction of the Prime Minister.

In addition, it needs to collect information and advise the Prime Minister to report to appropriate agencies for the solving and removal of difficulties related to the implementation of the real estate projects with the contents beyond the PM’s competence.

The taskforce will supervise, speed up and inspect the settlement of difficulties related to the implementation of real estate projects within the competence of ministries, branches and localities. It will, at the same time, make proposal to competent agencies on the amendment and supplement of regulations to perfect relevant mechanisms and policies. Besides, it will also perform the other duties as assigned by the PM.

The taskforce will take responsibility before the Prime Minister about the implementation of the tasks and will automatically dissolve after fulfilling the tasks.

Prior to that, on November 8 alone, two meetings discussing the solutions to the currently existing problems of the real estate market were held. The meeting in HCM City was chaired by Deputy Prime Minister Le Minh Khai and Deputy Minister of Construction Nguyen Van Sinh, while the meeting in Hanoi was chaired by Deputy Prime Minister Le Van Thanh and Minister of Construction Nguyen Thanh Nghi. The representatives of real estate developers also attended the meetings.

HOREA’s (HCM City Real Estate Association) chair Le Hoang Chau said the association has made some proposals to help solve the existing problems. One of the solution is the establishment of a special working group which helps solve the difficulties of some extremely important projects.

According to the Ministry of Construction (MOC), the real estate market in the first nine months of the year saw the difficulties in capital mobilization and short supply.

Regarding commercial housing projects, 104 got approval, 193 projects can satisfy the requirements to sell the products to take shape in the future, providing 56,402 products.

As for social housing, 30 projects have completed the investment, providing 5,090 products. Five housing projects for factory workers in IZs were completed, providing 8,700 products.

In terms of sales, 139,350 transactions were reported in the first nine months of the year.

Hong Khanh