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| A view of realty projects under construction (Photo: VNA) |
Hanoi (VNA) – The Government has issued a decree detailing the establishment of the national housing fund and measures to implement the National Assembly’s Resolution No. 201/2025/QH15, adopted in May this year on piloting a number of special mechanisms and policies to develop social housing.
The decree comprises seven chapters with 27 articles, stipulating the establishment, legal status, operations and financial management of the national housing fund; the receipt, management and use of contributions and assistance from domestic and foreign organisations and individuals; investment activities, the creation and management of rental social housing; inspection mechanisms; and the responsibilities of the fund as well as those of ministries, sectors and local administrations.
Under the document, the Government will establish the central housing fund under the Ministry of Construction, which will oversee its operations. Provincial-level People’s Committees will set up and manage their respective local housing funds.
The fund will operate as a public non-business unit with legal personality, its own seal, independent accounting mechanisms and charter capital, and may open accounts at the State Treasury and commercial banks.
Its purpose is to invest in the construction of social housing and integrated social housing projects complete with technical and social infrastructure for rental purposes.
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| Illustrative image (Source: VNA) |
The fund will carry out tasks in line with its objectives; manage and utilise State budget allocations and other lawful sources in accordance with this decree and relevant regulations; and ensure the efficient and proper use of capital, land and assets assigned by the State or generated during its operations.
It is authorised to receive State budget capital, other lawful funding sources, and in-kind assets; engage in joint ventures and partnerships in accordance with this decree, regulations governing public non-business units, and relevant legislation. The fund will also coordinate with relevant bodies and units in carrying out its assigned activities, and may decline requests for information or resource use if such requests contravene legal provisions or fall outside its operational mandate./.
