The government has proposed the National Assembly set aside a credit package of VND110 trillion ($4.66 billion) for social housing development, equal to 10 per cent of capital demand during the 2022-2030 period.

Investors will be allocated 50 per cent of the package while the remainder will be for personal customers, according to a draft government resolution on measures to tackle the difficulties in developing the real estate market in a healthy and sustainable manner.

The government said it will complete, issue, and implement a master plan on investment in building at least 1 million social houses for low-income earners and workers at industrial parks during the 2021-2030 period.

It will also ask relevant ministries and agencies to focus on implementing Resolution No. 11, focusing on preparing lists of projects, checking land funds, completing legal procedures, and selecting investors to build social housing and houses for workers at industrial zones and renovate old apartment buildings.