At the Workshop with the theme "Effective financial leverage - settlement opportunities for young people" organized by the Inspectorate Newspaper, Ms. Ha Thu Giang - Director of the Department of Credit for Economic Sectors under the State Bank of Vietnam emphasized that developing housing in general and housing for low-income people in particular is the policy of the Party and the State.
In the new situation, this is a task of the entire political system that needs to be prioritized in social development, with the goal of completing 1 million social housing units by 2030, focusing on the group of industrial park workers.
On that basis, the banking industry has implemented many solutions to prioritize credit capital and synchronously implemented solutions to help young people have housing. Thereby, creating a favorable environment for credit capital sources for the economy, meeting the financial needs of the subjects.
On the side of the State Bank, the Director of the Department of Credit for Economic Sectors informed that he has completed legal documents such as: Issuing Circular 22 amending Circular 41 regulating the assurance ratio applied to loans from 20 - 50%, creating conditions for credit finance to have room for those in need.
Credit capital is directed towards the affordable housing segment, Ms. Giang emphasized. The State Bank also coordinates with the Ministry of Construction to direct the implementation of lending according to the direction of the Government and the Prime Minister.
Implementing Resolution 33 of the Government on a number of solutions to remove and promote the safe, healthy and sustainable development of the real estate market, the State Bank has coordinated with the Ministry of Construction to monitor difficulties and obstacles to remove them.
Ms. Giang also said that there are currently 9 banks participating in the VND145,000 billion credit package, with interest rates 1.5% - 2% lower than normal interest rates. According to her, the latest lending interest rate is currently 5.9%/year, interest rates are continuously decreasing with the general trend of the site.
For young people under 35 years old, the State Bank has preferential interest rates, the first 5 years are 2% lower, 10 years are 1% lower than the average interest rate for the long term of large banking groups.
Determining this as an important program, right from the implementation, the State Bank has closely coordinated with localities and 15 regional State Bank branches, working with each investor to implement each project and remove obstacles according to the Government's policy.
Through monitoring, Ms. Giang emphasized that the results of the improvement are positive, when units "work hard" to coordinate positively, sales are disbursed positively.
The young generation has been a great source of labor for Vietnam, creating conditions for them to buy a house is extremely necessary, Ms. Giang shared. According to the Director of the Department of Credit for Economic Sectors, the biggest difficulty at present is determining that the project has a price suitable for this subject, to suit its payment capacity.
Therefore, coordination with localities and creating conditions from the financial leverage of banks will bring " settlement and career". Understanding the needs of young people, the State Bank is presiding over and coordinating with localities to have orientations suitable for the income of many subjects.
