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Hanoi (February 14th, 2012) – The 9th session of the Central Steering Committee on Housing Policy and Real Estate Market took place at the head office of the Ministry of Construction to review its operation in 2011 and verified its tasks in 2012.

Deputy Prime Minister Hoang Trung Hai, Chairman of Central Steering Committee, hosted the meeting

Mr. Hoang Trung Hai, Deputy Prime Minister cum Chairman of the Central Steering Committee (CSC), hosted the meeting which was attended by Deputy Minister of Construction Nguyen Tran Nam, CSC members who come from relevant ministries, CSC standing office and CSC experts.

According to the report on its operation in 2011 and its action plan in 2012 released by CSC Standing Office, in spite of difficult and unstable economic situation in 2011, CSC still constituted many notable achievements such as: directing to design policies on housing and real estate market, including National Housing Development Strategy to 2020, a vision to 2030 which was approved by Prime Minister through Decision No. 2127/QD-TTg dated 30/11/2011; setting up project “Support poor families to enhance accommodation safety and response ability to flood in Nothern Central and Central Coast” which was submitted to Prime Minister for approval on 23/11/2011. Besides, the Central Steering Committee also checked and urged the implementation of key housing programs; studied and proposed some solutions to stabilize real estate market; initially coordinated with UN-HABITAT Vietnam to achieve practical results... In 2012, the Central Steering Committee will take on uncompleted tasks in 2011; urge to implement the National housing development strategy; and implement Prime Minister’s Directive on a number of measures to strengthen the management of real estate market.

At the meeting, on behalf of leaders of the Ministry of Construction, Deputy Minister Nguyen Tran Nam reported to Deputy Prime Minister on its achievements in housing sector and real estate market. The Ministry of Construction did coordinate with central agencies, ministries and local authorities to successfully develop and implement 5 national housing development programs: program supporting the poor to own a house, the residential cluster building program in Mekong Delta flood zone, housing for students program, housing for workers in industrial zones program, housing for low-income people program. At the same time, the Ministry of Construction performed the task of state management of the real estate market, proposed a number of measures to develop this market healthily. As for the operational plan of the Ministry of Construction in 2012, Deputy Minister Nguyen Tran Nam said: The Ministry would continue implementing Directive 2196/CT-TTg dated on 06/12/2011 by the Prime Minister on a number of management measures to strengthen the real estate market, thereby reviewing and adjusting a number of projects to match the needs, resources and direction to the project objectives. Another task that the Ministry of Construction commits to complete is to commend the Construction Law, Housing Law, Real Estate Business Law to create a legal framework to ensure transparency, sustainable development of this special market.

Speaking at the meeting, CSC Chairman, Deputy Prime Minister Hoang Trung Hai said: To achieve the target of 30m2 average floor square per person in 2030, the national housing development strategy required effort and coordination of central agencies and ministries, especially the Ministry of Construction. Deputy Prime Minister emphasized that the tasks of the Central Steering Committee in 2012 was to stabilize the real estate market; address the challenges of resources without causing economic instability, raising capital from other channels to lessen burden for banks, control the rate of credit and research to put credit into logical segments. Deputy Prime Minister also proposed to continually promote the project building rental house and forming rental business together with the mechanisms and policies for the operation of this type of enterprise.