Construction Ministry moves to save low-income housing projects

The Ministry of Construction has asked the Bank for Investment and Development of Vietnam (BIDV) to appraise and provide capital for seven low-income housing projects. The projects include project N05 at Dang Xa, Gia Lam District in Hanoi, invested by Viglacera with a total capital of VND874.7 billion (USD41.6 million), and Hanh Phuc Apartment project in Binh Chanh District, HCM City invested by Construction Corporation No. 1. The others are a project in Vinh Yen City, Vinh Phuc Province, invested by Vietnam Construction and Import-export JS Corporation (VND244.7 billion); An Trung 2 residential area in Son Tra District, Danang City, jointly invested by Civil Engineering and Investment JS Company 579 and Duc Manh JS Company (VND187 billion), and a project in Long My District, Hau Giang Province (VND53 billion) by H&B Company. Among these projects, two have been delayed due to capital shortages. The ministry has urged the project investors to apply for loans directly from branches of BIDV. Recently, the ministry and BIDV inked an agreement to provide VND2 trillion (USD952.3 million) for around 15-20 housing projects aimed at low-income earners and workers over the next two years. The Ministry of Construction is also seeking the Prime Minister's approval for a fund that could be used to provide low interest loans for affordable housing to help low-income families. Tourist Vietnam
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