The Ho Chi Minh City Department of Construction has received proposals from six investors to use loans from the government’s credit package of VND120 trillion ($5 billion) for the development of social housing projects.

Three investors have registered to invest in building a social housing project, while one other will build housing for workers to rent and two will rebuild old apartments.

The department said these projects meet the criteria and requirements set by the Ministry of Construction to access the credit package.

The package was introduced earlier this year in a bid to boost social housing and housing for workers.

Investors in such projects can access 50 per cent of the package while the remainder is for personal customers buying or renting social housing.