At the conference on the implementation and investment promotion for the development of rental housing in Ho Chi Minh City, held on the afternoon of June 9, under Chairman Nguyen Van Duoc’s directive to establish a “green lane” for procedures, 13 organizations and enterprises registered to develop more than 97,000 rental housing units.
Chairman Nguyen Van Duoc requested departments and agencies to provide specific advisory proposals on creating a “green lane” for rental housing projects and developments. Photo: AI NHAN
The conference on the implementation and investment promotion for the development of rental housing in Ho Chi Minh City on the afternoon of June 9 attracted numerous contributions on rental housing development from representatives of the Southeast Asia Advisory Council of Temasek Singapore, the Ho Chi Minh City Labor Federation, the Ho Chi Minh City Association of Construction Science and Technology, the Ho Chi Minh City Real Estate Association, the State Bank of Vietnam, Ho Chi Minh City Finance and Investment State-Owned Company (HFIC), among others.
Providing guidance on rental housing development, Deputy Minister of Construction Nguyen Van Sinh said the Ministry of Construction will contribute comments to the upcoming amendments to the 2023 Housing Law, focusing on four types of housing: commercial housing, social housing, rental housing, and official-duty housing.
“Ho Chi Minh City needs to accurately and substantively assess the demand for rental housing to avoid either oversupply or shortage. At the same time, the city should continue to allocate land-use planning for the development of social housing and rental housing, especially in areas with growth momentum; encourage investors to allocate 10–20% of their social housing stock for rental purposes; effectively use local housing funds or budget resources to invest in rental housing development; and promote the development of worker accommodation and dormitories in industrial parks.
The city needs support policies to enable residents to participate in investing in and developing rental housing; convert public land and housing assets into rental housing to avoid waste; commence at least one project in June; and urgently develop additional projects in the third and fourth quarters of 2026,” Mr. Sinh proposed.
Expressing his appreciation for the recommendations from various organizations and more than 350 delegates attending the conference, Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc affirmed that the conclusions of the General Secretary and the State President, as well as the directives of the Prime Minister on rental housing development, are highly appropriate, timely, humane, and aligned with the people’s aspirations. Therefore, Ho Chi Minh City has a responsibility to implement them urgently.
Regarding recommendations to improve support policies for rental housing development, the Chairman of the City People’s Committee affirmed that the city will provide maximum support for rental housing development projects, whether they are implemented on state-owned land funds or on land funds independently secured by enterprises.
Regarding recommendations on loan support, interest rates, land-use conversion for rental housing development, exemptions or reductions of land-use fees, and regulations on rental prices to support tenants, Mr. Duoc assigned relevant departments and agencies to advise the City People’s Committee so that proposals can be submitted to the competent authorities.
Mr. Duoc affirmed: “The city will provide maximum support and has agreed to create a green lane for procedures related to social housing and rental housing. The Department of Construction, the Department of Planning and Architecture, and the Department of Finance have been assigned to provide specific advisory proposals on establishing this green lane for projects, considering this a responsibility of humanitarian significance.
At the same time, the city will review rental housing demand in order to allocate land funds within the city’s overall housing development plan, including rental housing.
The city will submit recommendations to the Prime Minister and central agencies regarding comprehensive support policies for the development of social housing and rental housing in Ho Chi Minh City. The city is taking action with the highest determination, and with the contributions of enterprises, including more than 97,000 rental housing units registered at this conference, I believe we have a solid basis to successfully implement the policy of developing rental housing in Ho Chi Minh City.”
The conference also witnessed the signing by 13 enterprises, including four state-owned enterprises and nine private enterprises, to develop approximately 97,900 rental housing units in the coming period.
13 organizations and enterprises register to develop more than 97,000 rental housing units.
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