Voters in Quang Ngai province recommended that the Government have preferential mechanisms in supporting credit packages for cadres subject to provincial mergers, streamlining the apparatus when buying houses, and low-income people buying social housing to create conditions for cadres and civil servants to work with peace of mind.
Regarding this issue, the State Bank of Vietnam has the following opinion:
In recent times, the development and investment in housing construction, especially housing for those in difficulty (including civil servants and public employees) has always been of interest to the Party, the State, the Government, the Prime Minister, and ministries, branches and localities with many policies issued and focused on prioritizing resources for implementation, specifically:
The Secretariat has issued a separate Directive 34-CT/TW, dated May 24, 2024, on strengthening the Party's leadership in the development of social housing in the new situation. Accordingly, social housing development is identified as a political determination, an important task of the Party and the entire political system; as one of the key tasks that need to be prioritized in the socio-economic development of the country.
The Prime Minister has approved the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021-2030" and Decision No. 444/QD-TTg dated February 27, 2025 assigning targets for completing social housing in 2025 and the following years until 2030 to each locality.
In particular, recently to facilitate the development of social housing, the Government has submitted to the National Assembly to issue Resolution No. 201/2025/QH15 on piloting a number of specific policies and mechanisms for the development of social housing. Resolution No. 201/2025/QH15 also clearly stipulates housing conditions for beneficiaries of social housing support policies for subjects with workplaces far from their place of residence.
On the side of the banking sector, thoroughly grasping the policies of the Party and the State, implementing the direction of the Government, in recent times the banking sector has implemented credit programs on housing and social housing for those facing housing difficulties (including cadres, civil servants, and public employees), such as:
Social housing lending program according to Decree No. 100/2024/ND-CP: According to this program, buyers and renters of social housing are allowed to borrow capital from the Social Policy Bank up to 80% of the house value; lending interest rate equal to the lending interest rate for poor households prescribed by the Prime Minister (currently 6.6%/year) and the maximum loan term is 25 years.
Program for lending to social housing projects, workers' housing, and projects to renovate and rebuild old apartment buildings according to Resolution No. 33/NQ-CP of the Government:
In order to carry out the assigned tasks in Resolution No. 33/NQ-CP, the State Bank has issued a document guiding banks to implement the Program from April 1, 2023, and the Ministry of Construction has also issued a document guiding the subjects and conditions for participating in the Program.
The program is implemented entirely with capital from commercial banks, demonstrating the Banking industry's support in sharing resources with major policies of the Party and State.
To date, 9 commercial banks have registered to participate in the Program with a scale of VND 145,000 billion and have the following incentives for social housing buyers:
Interest rates are 1.5% to 2% lower than the average VND lending rates for medium and long-term loans of 4 state-owned commercial banks in the first 5 years of borrowing capital (current interest rates are 5.9%/year).
For young people under 35 years old, the preferential interest rate is up to 15 years (of which: the first 5 years the interest rate is 2%/year lower, the next 10 years the interest rate is 1%/year lower than the average long-term VND lending interest rate of 04 state-owned commercial banks).
The State Bank has identified this as an important Program according to the Government's policy, so since its implementation, it has closely coordinated with ministries, branches, localities and regularly directed commercial banks, State Bank branches of provinces and cities (now the Regional State Bank) to resolutely implement, establish a hotline, work with each investor, review each project to assess difficulties and obstacles in accessing loans to promote the implementation of the program.
However, the implementation of the program still faces some difficulties due to the limited number of social housing projects announced by the Provincial and Municipal People's Committees.
Therefore, to facilitate civil servants in the province to soon access credit capital to buy houses, it is recommended that the People's Committees of the provinces soon announce a list of projects eligible for loans and inform civil servants and public employees in the area about the credit programs being implemented to grasp and access.
On the side of the State Bank, it will direct credit institutions to actively implement credit programs to support people facing housing difficulties, including officials, civil servants and public employees in Quang Ngai province.
