HUD accelerates social housing projects

(VEN) – HUD.VN, a member of the Housing and Urban Development Corporation (HUD) was one of the first ten businesses accessing loans from Vietnam Bank for Agriculture and Rural Development (Agribank) in June 2013. Thanks to the loans, HUD.VN and the corporation has accelerated social housing projects.

The southwest Linh Dam social housing projectThe southwest Linh Dam social housing project

Agribank’s borrowing resources were the refinancing of the State Bank of Vietnam (SBV) based on Circular 11/2013/TT-NHNN dated May 15, 2013 of SBV stipulating on supporting loans for social housing according to Resolution 02/NQ-CP dated January 7, 2013 of the government and Circular 07/2013/TT-BXD dated May 15, 2013 of the Ministry of Construction. Businesses with investment projects to construct social housing and commercial housing projects be converted into social housing projects announced by the Ministry of Construction are subjects who can access Agribank’s borrowing resources.

HUD Chairman Nghiem Van Bang said that efforts of SBV and Agribank had created favorable conditions for businesses, including HUD.VN to effectively implement Resolution 02/NQ-CP dated January 7, 2013 of the government and helped HUD accelerated social housing projects. Chairman Nghiem Van Bang also committed that HUD would use borrowing resources in accordance with regulations of the state and the banking sector.

Developing social housing is considered the most important political, economic and social task in the current period, contributing to confirming the role of state-owned enterprises in ensuring social security. According to the approved plan, in the 2013-2015 period, HUD will implement and complete the construction of 10,000 social housings, positively contributing to the national housing development strategy by 2020 with a vision to 2030 approved by the prime minister.

In May 2013, under the direction and approval of the Ministry of Construction and Ha Noi People’s Committee, HUD cooperated with the BIC Vietnam JSC to organize the southwest Linh Dam social housing project’s groundbreaking ceremony. The project will have six buildings from 9-18 floors covering on a total construction area of about 78,815sq.m with a total investment capital of about VND710 billion. The project is expected to complete in 2015, contributing to providing 1,037 apartments for people and timely meeting demands in terms of social housing in Hanoi.

Until the end of 2013, HUD will continue to direct a board of directors and leadership in units overcoming difficulties and problems in social housing and actively implementing important solutions, such as strengthening administrative reform, improving quality of sales department and focusing on advertising and marketing in order to promote business activities in an effective manner. In particular, HUD will accelerate social housing projects, such as Thanh Lam-Dai Thinh 2 project to ensure the completion of the plan and maintain growth in 2013.

Together with assigned tasks and plans, HUD is stabilizing organization and researching solutions to promote the business payback. In addition, reviewing and cutting investment costs, applying scientific and technological advances and improving quality and competitiveness in order to achieve positive business results in the last six months of 2013, contributing to creating an engine in order to complete tasks in 2013 are also underlined./.

By Kieu Nga

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