Over 12,000 billion VND has been disbursed from the 30,000 billion VND credit package.

Reporting on the implementation of the National Assembly's Resolution on solutions to remove difficulties for the real estate market associated with the National Housing Development Strategy at the National Assembly on November 16, Deputy Prime Minister Nguyen Xuan Phuc said that the VND30,000 billion credit package had committed to lending over VND20,000 billion by September 2015.

Photo: Villas and townhouses at the General Department 5 Housing Project, Tan Trieu Commune, Thanh Tri District, Hanoi.

The Government has also basically completed the review and classification of urban and housing development projects nationwide. Of the total 3,978 urban and housing development projects, after the review: 3,172 projects (accounting for 79.74%) were allowed to continue implementation; 460 projects (accounting for 11.56%) needed to adjust the apartment structure and planning; 306 projects (accounting for 7.69%) had to be temporarily suspended.

The housing product structure has been adjusted more reasonably, many commercial housing projects have been converted to social housing. Up to now, the whole country has had 62 projects registered to convert from commercial housing to social housing with a construction scale of about 41,769 apartments; 88 projects registered to adjust the apartment structure (reduce the area) to better suit market demand with the initial number of 36,113 apartments proposed to be adjusted to 49,199 apartments.

Several large-scale social housing development programs and projects have been implemented. The average housing area per capita nationwide increased from 17.5 m2 in 2010 to 22 m2 in 2015. Real estate inventory has decreased by about 54% compared to early 2013. The VND30,000 billion credit package, by September 2015, had committed to lend over VND20,000 billion (reaching a rate of 68.1%) and disbursed over VND12,000 billion (reaching a rate of 41%).

Strengthening inspection and examination of projects and construction works including: Social housing project in Binh Duong province with a scale of 64,000 apartments, construction area of ​​more than 2.7 million m2 of floor space, nearly 5,000 apartments have been completed; Nhon Trach Industrial Park worker housing project, Dong Nai with a scale of 3,500 apartments, phase 1 has been completed with 510 apartments, and phase 2 is being implemented with nearly 1,000 apartments; Social housing project in Dang Xa New Urban Area, Gia Lam, Hanoi, has completed phases 1 and 2 with a scale of 1,063 apartments, construction floor area of ​​about 84,000 m2, providing accommodation for about 4,000 people, phase 3 is being implemented with about 2,000 apartments; The Bac Co Nhue - Chem social housing project has completed phase 1 with 930 apartments and is implementing phase 2 with 980 apartments.

In 2013, 2014 and the first 9 months of 2015, the Ministry of Construction Inspectorate deployed 182 inspection teams to inspect the construction sector. Adjusted payments, disbursements, and recovered expenditures that were not in accordance with regulations; handled many organizations and individuals who violated regulations. In 2013 and 2014, the Ministry Inspectorate issued 94 conclusions, including recommendations for economic handling of violations of VND 2,624 billion; issued 32 decisions on administrative sanctions with a total fine of VND 3,236 billion. In the first 9 months of 2015, 43 inspection conclusions were issued, recommending economic handling of nearly VND 573 billion; issued 26 decisions on administrative sanctions with a total fine of VND 5.83 billion. More than 13,000 economic and technical norms have been revised and supplemented as a basis for unit price establishment, cost management, and project payment and settlement.

Issued a Decree on Urban Development Investment Management. Reviewed, established, and adjusted regional plans and general plans for urban areas; implemented zoning plans in accordance with the provisions of the Law on Urban Planning; promoted the planning of new rural construction. Up to now, 60/63 provinces and centrally-run cities have approved provincial regional construction plans; 770/770 cities, towns, and townships have approved general plans; the coverage rate of zoning plans and detailed plans at a scale of 1/2000 is about 70%; detailed plans at a scale of 1/500 are about 30% of the urban construction land area; the planning rate of new rural construction is about 94.5%.

However, real estate inventory is still quite large. Construction management and urban development according to planning and plans in many localities are still weak. The quality of some construction works is still low. The situation of loss and waste in construction investment still causes many concerns.

According to Investment