Politics · Vietnam Bureau
Vietnam allocates 5 trillion VND for new national housing fund
Vietnam's Ministry of Finance has earmarked 5 trillion VND in charter capital for establishing a National Housing Fund, with plans to expand the fund to 10 trillion VND within three years of operation.
LSN Vietnam ·
The Ministry of Finance unveiled its plan for the National Housing Fund during proceedings at the National Assembly on November 12, according to Minister of Finance Ngo Van Tuan. The initial capitalization of 5 trillion VND (approximately 194.6 million USD) is designed to support the fund's establishment and early operations.
Under the proposed framework, the fund is expected to grow substantially once operational. Officials project the capital base could reach 10 trillion VND after three years, reflecting anticipated inflows and operational growth during the initial phase.
The National Housing Fund initiative aligns with the government's broader policy objectives to address housing shortages and stabilize the real estate sector. The move comes as Vietnam's legislative bodies work on synchronized revisions to housing and real estate business laws, with senior government officials emphasizing the need for coordinated legal reforms to unlock resources in the sector.
The fund's establishment represents a significant step in formalizing state support for housing development, particularly in addressing social housing needs across the country. Details on fund management structure, allocation mechanisms, and eligible projects are expected to be finalized as the National Assembly reviews related legislation.