Under the programme, developers and buyers of social housing and worker housing projects are entitled to loans at preferential interest rates. Implementing the programme, Bac Giang is focusing on solutions to disburse capital to soon put projects into operation.

An artist’s impression of the social housing project in Nham Bien township (Yen Dung district).

The credit package is expected to help social housing developers as well as beneficiaries get loans at low interest rates, 2% per year lower than that of commercial loans, from four commercial banks including Agribank, Vietinbank, Vietcombank and BIDV. The disbursement deadline is the end of 2030.

Recently, the Prime Minister issued a dispatch on continuing to drastically implement solutions to develop a safe, healthy and sustainable real estate market, contributing to promoting socio-economic development. 

He urged accelerating the implementation of the project to build at least 1 million social housing apartments for low-income earners and industrial park workers in the 2021-2030 period", and classifying projects that are facing difficulties and problems to identify the causes and promptly remove them. 

For the banking industry, it is necessary to continue to promote the disbursement of the 120 trillion VND preferential credit package and have appropriate cost reduction solutions to cut down interest rates.

Realizing the Government's direction, Bac Giang has developed plans and reviewed each social housing project in the locality. The provincial People's Committee publicised 12 social housing and worker housing projects in need of loans for banks to approach.

The social housing project for workers in the Nenh township new urban area (Viet Yen district) is eligible for loans from the 120 trillion VND credit package.

According to the State Bank of Vietnam (SBV)’s Bac Giang branch, the province has three projects that meet the prescribed conditions, including the social housing project for workers in the Nenh township new urban area and the social housing area for workers in Quang Chau commune (Viet Yen district); and the social housing project in Nham Bien township (Yen Dung district).

For projects that are eligible for loans, customers and credit institutions are negotiating to find common ground, said the SBV branch in Bac Giang.

To speed up the disbursement of the 120 trillion VND credit package, the branch will continue to urge commercial banks to support businesses in obtaining loans according to regulations. At the same time, localities will coordinate to remove difficulties, focus on site clearance, and soon put projects into operation to serve the beneficiaries.

Bac Giang to build 75,000 social housing units

Bac Giang, where major foreign companies, including Apple supplier Foxconn and Samsung Electronics supplier SI Flex, have manufacturing facilities, plans to build 75,000 social housing units by 2030.

Bac Giang mobilizes sources to care for workers’ housing demand

(BGO) – As an industrial development province, Bac Giang attracts hundreds of thousands of workers from other provinces and cities. To help them comfortably stay and work at the business for long time toward stable production, the province considers development of social house for workers an urgent key task.

Social housing projects seek loans from $5B credit package

Thirty-seven social housing projects have qualified for loans from the VND120 trillion ($5.07 billion) credit package that the government has set aside to boost affordable home supply.

Construction kicked off for 9 social housing projects in H1

Nine projects on social housing and housing for workers in industrial zones saw their construction started between January and June, expected to offer 18,768 units to the market.

PM attends ground-breaking ceremony for worker housing project in Bac Giang

On the afternoon of June 16, Prime Minister Pham Minh Chinh attended the ground-breaking ceremony for the second phase of a worker housing project in Viet Yen District, Bac Giang Province.