The Prime Minister requested Ho Chi Minh City to continue handling 32 out of 66 real estate projects facing long-term legal problems.
At a working session with the Steering Committee on resolving projects related to projects on January 4, Ho Chi Minh City People’s Committee said the city counted 66 real estate projects with problems lasting many years. The city has currently resolved 34 projects.
With backlogged real estate projects, Prime Minister Pham Minh Chinh assigned Ho Chi Minh City to continue handling them according to existing regulations and precedents. For unprecedented projects, the city continues to report and propose solutions to competent authorities.
Prime Minister Pham Minh Chinh spoke at a meeting on resolving project problems in Ho Chi Minh City, January 4. Image: VGP
From 2022 until now, Ho Chi Minh City has had dozens of real estate projects facing legal problems lasting many years. Projects are divided into 3 groups including: social housing, commercial housing not subject to legal review and commercial housing that is reviewed, inspected and inspected.
Experts predict that after legal obstacles are removed, the market will see more cooperation deals to revive old projects together. This will “enrich” the city’s housing supply in the coming years, helping to quench the housing thirst that has “clinged” to the city for more than 4 years. This is also expected to be the key to helping regulate the market, reducing the momentum of real estate price increases.
In addition to real estate projects, Ho Chi Minh City’s list of projects that need to be resolved includes 12 large backlog projects.
Among them, there are 6 projects under the jurisdiction of the Government and the Prime Minister, including: International university urban area in Tan Thoi Nhi commune (Hoc Mon district), SaiGon Sports City, Saigon Center 4, Saigon Center 5, etc. Investing in the construction of a route connecting Pham Van Dong street to Go Dua intersection (Thu Duc city) and a flood prevention project. In addition, there are 3 projects and 3 public assets under the jurisdiction of ministries and branches.
At the same time, there are 200 other projects that Ho Chi Minh City is gathering information to continue reporting to the Prime Minister.
With investment projects, the main difficulties related to site clearance, land use conditions, planning targets, financial plans, or some contents in the investment decision need to be adjusted to suit the project. in accordance with new regulations. All public assets are involved in the rearrangement of real estate facilities managed by ministries and central branches.
The Prime Minister said that through processing, the Government has more experience to submit to the National Assembly for approval of the Law on Public Investment (amended), the law amending 9 laws, and the law amending 4 laws in the field of finance and investment. Over the past month, the Government has also issued dozens of guiding decrees.
“When we work together and agree, all work will have output,” the Prime Minister said.
Regarding the work in the future, the Prime Minister said that among the major projects under the authority of the Government and the Prime Minister, the International University urban project has been considered and directed for solution. The remaining five projects, including the 10,000 billion VND anti-flooding project, are being proposed to have additional mechanisms and policies for handling. The Government will issue a resolution to resolve this project. The Ministry of Planning and Investment is assigned to promulgate this resolution before January 15.
With 200 other projects being counted, Ho Chi Minh City is required to continue to classify, clarify handling authority, and propose solutions according to newly promulgated laws.
The Prime Minister said that the removal of problems must be “drastic, clear about the time, and effective”. “Wherever there is information, we will deal with it. If the matter is ready and clear, then decide. If the matter is unclear, continue to collect complete information,” he stated, noting that units should resolve it quickly and effectively. but don’t let wrong stack up against wrong, negative, or wasteful things.