There should be state-owned enterprises to build low-cost housing.
Speaking with Tien Phong reporter , Mr. Le Hoang Chau - Chairman of Ho Chi Minh City Real Estate Association - said that opening the door for State-owned enterprises to do real estate is good for the market, especially in the current context of the market being out of sync with supply and demand.
According to Mr. Chau, the real estate market is currently improving its supply but investors are only focusing on the high-end segment, social housing has not yet achieved its target. Apartments under 2 billion VND have become extinct in the market.
"Previously, there were state-owned corporations and groups that did real estate business but had to divest as required. But now that they are allowed to invest in real estate, it opens up opportunities for businesses as well as the market. However, it is necessary to orient the right real estate segment for state-owned enterprises to participate," said Mr. Chau.
Mr. Chau gave an example of Singapore, where a state-owned enterprise is responsible for developing and managing public housing. This enterprise was established in 1960 with the aim of providing affordable housing for Singaporeans and has played an important role in helping more than 80% of Singaporeans own homes.
"In Vietnam, there should be state-owned enterprises that build low-cost housing, including two types: social housing and low-cost commercial housing, to meet the housing needs of the majority of people with average and low incomes in urban areas, workers, civil servants, public employees, armed forces officers and immigrants," said Mr. Chau.
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State-owned enterprises should aim to build low-cost housing. |
Mr. Chau said that cheap houses but “not low quality”, ensuring construction quality standards. Cheap commercial housing projects and social housing projects must have full facilities and essential services to serve residents.
Limit investment in speculative segment development
Dr. Tran Xuan Luong - Deputy Director of the Vietnam Real Estate Market Research and Evaluation Institute supports the regulation allowing state-owned enterprises and state-owned enterprise capital to invest in real estate business. Because, the market economy needs equality, no distinction between private capital or state capital, as well as to exploit idle capital from the unused budget.
However, Mr. Luong said that real estate is a special commodity, subject to State management, so it is necessary to regulate the scope of investment in the real estate sector for enterprises with State capital. The reason is that doing business in this sector can easily lead to distortion, speculation, exploitation and group interests. According to Mr. Luong, the goal of State capital is to aim for national interests and community interests.
Therefore, Mr. Luong believes that in the field of real estate investment, state-owned enterprises need to prioritize real estate and real estate segments that create "double" benefits, develop the socio-economy, create more jobs, serve the economy and the interests of the people, such as: industrial real estate, wharves, logistics, commercial real estate for rent, social housing, residential housing, technology real estate, high-tech agriculture , etc.
In particular, Mr. Luong recommended that state-owned enterprises should limit investment in the fields of commercial housing real estate, land plots... real estate with signs of speculation, or swing auctions...
Or only allow capital contributions to support specific projects such as building infrastructure for urban areas, commercial housing projects, etc.
To use state capital for the right purposes, avoid financial risks in real estate investment, and loss of national assets, according to Mr. Luong, the State needs to improve inspection and supervision of capital flows, investment purposes, which segments are allowed, have investment incentives, which segments are restricted or prohibited from investment, etc.
The Law on Management and Investment of State Capital in Enterprises takes effect from August 1, 2025. One of the notable contents is that the newly passed law has removed the provision restricting state-owned enterprises from investing in real estate business.
Source: https://tienphong.vn/doanh-nghiep-nha-nuoc-nen-huong-vao-lam-nha-o-gia-re-post1751881.tpo
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