The government has decided to implement a credit package of VND120 trillion ($5 billion) for social housing development.

The figure is equivalent to 12 per cent of the capital needed to achieve the goal of building at least 1 million social houses and houses for workers during the 2021-2030 period.

It is part of Resolution No. 33/NQ-CP issued recently by the government on a number of solutions to remove difficulties and promote the safe, healthy, and sustainable development of the country’s real estate market.

Under the Resolution, the government has asked relevant ministers, sectors, and localities to continue to complete institutions on housing and real estate and create the conditions needed for businesses, home buyers and investors to quickly access credit.

Corporate bond issuances in real estate must be in accordance with regulations and mobilization controlled to avoid speculation, manipulation, and price rigging.