HCM City to build 1 million units of affordable housing for low-income workers

2021-10-22 08:44:31
The chairman of the HCM City People’s Committee, Phan Van Mai, said the city plans to build one million units of affordable housing for low-income workers.

The Department of Construction is working with the Department of Natural Resources and Environment to review statistics of the State's social housing land fund and has reported back to the City People’s Committee.

 The affordable housing demand of migrant workers in HCM City is very high. —VNA/VNS Photo

The fourth wave of COVID-19 clearly exposed the reality that workers live in large numbers in very small areas. This has had a great impact on the emotional life of the workers.

The city's leaders have recognised the urgent need to build social housing suited to the income of migrant workers.

"Migrant workers play a very important role in the economic and social development of the city, but the city currently does not take care of their lives well enough. In the coming time, the city will have better support policies and benefits for workers," Mai said.

The city has implemented many projects to build social housing for workers in Linh Trung I, Linh Trung II, and Tan Thuan export processing zones, Tan Tao Industrial Park, and in new industrial zones.

According to data from the Department of Construction, from the end of 2019 until now, the city has implemented 15 housing projects for workers, equivalent to an area of 47ha.

However, this number is still too small compared to the housing needs of millions of migrant workers in the city.

The biggest difficulty in building social housing for workers is the lack of capital and land.

Foreign investors remain optimistic about VN stock market

From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year.
14:42:14 | 30/01/2023

Viet Nam lures over $25 billion in foreign investment in 11 months

Viet Nam received US$25.1 billion in foreign investment in the first 11 months, up 0.5 per cent month-on-month but down 5 per cent year-on-year, the Foreign Investment Agency (FIA) has said.
09:59:54 | 29/11/2022

2022 a quiet time for M&As

Figures from KPMG show that Vietnam’s merger and acquisition (M&A) market was down sharply in 2022 compared to 2021 both in deal numbers and size. No M&A deal worth in excess of $1 billion has been seen this year. It is forecast that the M&A market will be active once more in the next few years as foreign investors become more involved because domestic money is limited due to rising interest rates and lower liquidity.
21:40:42 | 07/11/2022

Vietnam treasures ties with Belgium: PM

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on November 6 for the newly-appointed Belgian Ambassador to Vietnam Karl Van Den Bossche, during which the host affirmed that Vietnam always treasures its ties with Belgium.
21:32:32 | 07/11/2022

Problems in PPP projects still waiting to be solved

There are still shortcomings in the implementation of public-private partnership (PPP) projects, which need to be resolved promptly and thoroughly, in order to show the attention and support from the State, and create an equal investment environment.
07:52:49 | 02/11/2022

Forum seeks ways to promote Vietnam - U.S. trade in new context

Trade has become a pillar of the growing bilateral relationship between Vietnam and the U.S., Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Quang Phong said on November 16.
15:48:10 | 17/11/2021