The Government has just issued Decree 35 amending and supplementing a number of articles of Decrees in the field of state management of the Ministry of Construction with a series of new points. In which, amending and supplementing a number of articles of the Government’s Decree No. 11/2013/ND-CP on urban development investment management.

Specifically, amending and supplementing Clause 7 of Article 4 in the direction of the Provincial People’s Committee to specify the areas where the land use right can be transferred in the form of subdivision and land sale for people to build houses on their own.

Detailed planning of the project has been approved, meeting the provisions of law on land, housing, real estate business and the following regulations:
The project is suitable for urban planning levels; has completed the infrastructure construction investment of the whole project or according to the approved investment phase; the construction of houses must ensure compliance with the approved project’s contents and schedule;

Not in areas with high requirements for management of landscape architecture, the facades of regional roads or higher and major landscape routes in urban areas, central areas and around the works are the highlight architecture in the city.

Provincial-level People’s Committees shall base themselves on urban planning, urban development programs for each urban area, approved architecture management regulations and national technical regulations on construction, infrastructure and urban planning to specific regulations on areas where land use rights can be transferred in the form of subdivisions or land sales for people to build houses on their own.

According to the previous regulations in Decree No. 11/2013/ND-CP, the Provincial People’s Committee specifies the areas where the transfer of land use rights has been carried out with infrastructure investment for people to build their own houses according to the regulations. The detailed planning of the project has been approved, after obtaining the written agreement of the Ministry of Construction.

Source: CafeF

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“Especially, exchanges have had to close or suspend operations. Many real estate exchanges have to cut personnel, costs, and maximum commissions to maintain operations. The number of floors and brokers in operation. Current activity is only about 30-40% compared to the early period of 2022,” he said.

According to Deputy Minister Sinh, this is a challenging period for brokers who are not competitive enough to survive, but also an opportunity for professional units to overcome and develop more sustainably.

In terms of implementation, Deputy Minister Nguyen Van Sinh stated that the problems of real estate projects are still related to localities, emerging projects with many difficulties in localities such as Hanoi and Ho Chi Minh City. , Da Nang, Dong Nai and some southern localities also have some problems related to investment order and procedures.

“Up to now, the Ministry of Construction and the Prime Minister’s working group have processed and resolved 71 documents reporting difficulties, problems and recommendations of localities, businesses, associations and people related to 121 real estate projects in many localities across the country,” he said.

Regarding the development of social housing and worker housing, Mr. Sinh said that the Ministry of Construction is actively directing localities to implement a project to build 1 million social housing apartments to create a supply of housing to contribute to solving difficulties in social housing and worker housing.

Thereby, the real estate market has changed, many commercial housing real estate projects have been dismantled for re-implementation, many social housing projects have also been approved and started construction in many localities across the country to create more supply for the market,” the Deputy Minister acknowledged.

Previously, in order to solve the common difficulties of the real estate market, the Government, ministries, branches and working groups of the Prime Minister had many directions to remove difficulties and obstacles related to institutions, issued many resolutions regulations and circulars to solve legal problems.

Currently, the Ministry of Construction has also submitted amendments to decrees in the field of State management of the Ministry related to problems and procedures of the real estate market. Over the pastime, the working group has worked with localities to review projects, of which Ho Chi Minh City reviewed 180 projects, Hanoi reviewed 170 projects, Da Nang reviewed 75 projects, there are 65 projects in Hai Phong, Can Tho – 79 projects…

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The terms of less than 6 months are reduced to a maximum of 4.75%/year; For terms of 6 months or more, deposit mobilization rates range from 5.5 to 8%/year. According to the State Bank of Vietnam, the average deposit rate of banks is about 5.8%/year, down 0.7% compared to the end of 2022. The average lending rate in VND is about 8.9%/year. , down 1%/year compared to the end of 2022.

In the interbank market, interest rates traded between banks decreased by 0.2-0.4%/year, depending on the term. Interbank interest rate on June 20 at overnight term is 0.55%/year; 1–2 weeks to 0.8 – 1.48%/year; 1 month remaining 2.54%/year; 3 months to 4.51%/year; 6 months to 6.8%/year; 9 months to 8.04%/year… This interest rate is lower than in August 2021, when the Covid-19 epidemic took place.

Source: Thanh Nien Online

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Multipolar development is both a classic model and a preeminent path for major cities around the world to expand urban space, reduce population pressure, create new jobs, and increase investment opportunities. In particular, the key to developing new satellite and central urban areas lies in the development of ring roads.

According to Prof. Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, the ring roads not only reduce the pressure of traffic in the inner city, but also serve as a lever to promote urban development, industry, trade and service to create resources for investment and development for the future. Accompanying the development of belt projects is a large-scale infrastructure system, vibrant economic and financial centers…

Typically, London, the ring road M25 running around the capital is the busiest and most important road in England, also the largest ring road in Europe.
In Vietnam, Hanoi has aimed to build affiliated cities in the northern districts (Dong Anh, Me Linh, Soc Son) and the west (Hoa Lac, Xuan Mai) through ring road 4 – the important route important for economic and social development in the Capital region, is expected to start construction in 2023.

In Paris (France), the boulevard Périph is more than 35km long, acting as a lifeline connecting cities outside the capital.’
In Berlin (Germany), the 10th Ring Line has formed busy and crowded urban areas, connecting to the airport and important train lines.
Particularly in Ho Chi Minh City, Ring Road 3 connecting Ho Chi Minh City – Dong Nai – Binh Duong – Long An will start simultaneously in this June and July, promising to create a driving force for economic growth for the entire Southeast region.

Huge potential for the real estate market

Transport infrastructure is one of the important factors promoting urbanization and the growth of the real estate market. Therefore, in all areas where the ring road passes, the market has grown significantly.

In many countries, the planning of the ring road has made real estate values jump. In Singapore, projects along the ring road around the city’s edge recorded an 11% price increase after the road came into operation. Particularly, the real estate market around the 3rd ring of Bangkok (Thailand) has increased by 50% compared to before the planning.

Commenting on the impact of the Ring Road 3 (HCMC) on the real estate market, Mr. Tran Quoc Thai, Director of the Department of Urban Development, Ministry of Construction said that the general price level will fluctuate in the following direction more positively. Through local and international practice, the price increase of 11%-12% is minimal.

In addition, according to experts, in the next 5–10 years, next to real estate projects in Thu Duc City, there will be a series of large projects such as closed belt 2, ring 4, Long Thanh airport. … With the potential to add value in the long term, this area will be a magnet to attract large projects. However, investors also need to be alert to prioritize the selection of projects with complete legality, good planning and regional connectivity with full facilities to avoid the situation of “spending money and only getting worse” when following the best practices. “Bait-and-switch” projects eat according to infrastructure.

Source: SGGP Online

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At the beginning of the meeting, Secretary Nen expressed his gratitude to Australia for their support to Vietnam, including Ho Chi Minh City, in providing medical equipment and tens of millions of doses of Covid-19 vaccines during the recent outbreak. After one year, the economy has recovered, thus the two sides have strengthened their strategic cooperation in many areas.

Frances Adamson stated that this was her fourth visit to Vietnam, but her first as the Governor of South Australia in her first visit to Ho Chi Minh City.

Through meetings and working sessions, Ms. Adamson recognized that Vietnam’s economy is strong with a young workforce, and she is delighted that the two countries decided to become strategic partners since 2018. The Governor of South Australia also believes that Ho Chi Minh City is a very dynamic city with high growth rates and a focus on scientific initiatives.

Nguyen Van Nen and Frances Adamson both expressed their desire to further strengthen their cooperation, especially in the fields of education and renewable energy.

Regarding education, Ms. Adamson said that there are many Vietnamese students currently studying in South Australia, and many Australian students come to study in Ho Chi Minh City. In addition to student exchanges, Australia is also willing to bring its universities to Ho Chi Minh City.

In the delegation of both sides, besides the leaders of Ho Chi Minh City and South Australia, there are also leaders from various sectors such as foreign affairs, industry and trade, health, and education, with the desire to enhance dialogue and multi-sectoral cooperation from both Vietnam and Australia.

Both sides also discussed extensively on cooperation in the field of renewable energy to combat climate change. Australia stated that they are striving to develop new technology products in this field and will be ready to bring them to the market by 2025. Vietnam has also set a determined goal and commitment to reduce emissions by 2025.

The two leaders hope to achieve these goals together in a spirit of cooperation based on the directions and priorities set by the two governments, contributing to the development of both economies and providing positive solutions to combat climate change, including the transition to clean energy as outlined in the roadmap.

Prior to this, on November 8, 2022, the signing ceremony of the strategic cooperation between QP Group and 4 Ways Fresh (Australia) took place at Sofitel SaiGon Hotel.

QP Group is a diversified conglomerate with the goal of diversifying investment types and aiming for stable and sustainable development in four key business sectors: real estate, construction, service trade, and industrial zone investment. Meanwhile, 4 Ways Fresh is a leading company in South Australia and Western Australia in the field of high-tech agriculture production, processing, packaging, and distributing products throughout Australia and exporting to many countries around the world.
Through the signing ceremony of the strategic cooperation, QP Group and 4 Ways Fresh have committed to working together to promote investment development between Vietnam and Australia in the fields of import-export and industrial-agricultural development, with the aim of sustainable development in the future

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