Request to thoroughly resolve real estate issues and avoid "criminalization"

Recently, with strong consensus from the delegates, the National Assembly passed a resolution on the results of a specialized supervision related to policies and laws on real estate market management and social housing development for the period 2015-2023. Accordingly, one of the important tasks put forward is to thoroughly resolve real estate projects facing difficulties and legal obstacles. This aims to create a driving force for the development of the real estate market and the socio-economic environment.

The National Assembly particularly emphasized that resolving legal issues for real estate projects must be conducted objectively, reasonably, and in accordance with specific historical circumstances. Notably, the National Assembly requested that economic and civil relations should not be "criminalized." This reflects the National Assembly's perspective on avoiding overly strict handling of violations in the real estate sector, which could negatively impact the economy.

The delegates also requested clarification on the concept of "non-legalization of violations" to prevent misuse during the handling of projects. The government is tasked with providing guidance on this matter to ensure that violations occurring during project implementation are not unlawfully legitimized while still protecting the legitimate interests of the involved parties.

Furthermore, the National Assembly urged the government to propose specific solutions for real estate projects facing difficulties. This not only helps resolve legal issues but also unlocks resources for the market, contributing to socio-economic development. Real estate projects currently stalled due to prolonged legal issues will be addressed through swift and effective measures to prevent prolonged delays.

The National Assembly also asked the government to review and clearly identify the causes of legal issues, categorize the projects, and propose appropriate solutions. This will help minimize negative impacts on businesses and citizens while ensuring the legitimate rights of all parties.

In addition to resolving troubled real estate projects, the National Assembly requested the government to continue effectively implementing social housing support programs, especially for workers and low-income individuals. Notably, the "Investment in Building at Least 1 Million Social Housing Units for Low-Income People and Industrial Zone Workers from 2021 to 2030" project needs to be strongly promoted, ensuring the progress and quality of the constructions.

The government is also required to review housing support policies for policy beneficiaries such as those with meritorious services, poor and near-poor households, and resettlement housing projects. These projects need to be accelerated to avoid delays, which waste resources and affect people's lives.

The National Assembly asked the government to continue researching and refining regulations on the stock market and corporate bond market, particularly issues related to real estate corporate bonds. Bond issuance needs to be strictly supervised to avoid issuance that does not ensure the issuer's ability to repay and meet financial obligations.

Another important requirement is to build a national information system on housing and the real estate market. This will help provide accurate, transparent data about the real estate market, facilitating more effective management and supervision. Real estate exchanges also need to enhance their capacity to become effective tools for market transparency and openness.

The National Assembly requested the government to propose fundamental, long-term solutions to bring real estate prices to their actual value and prevent price manipulation. This helps stabilize the market, creates a healthy environment for business development, and especially protects citizens' rights in purchasing, renting, or investing in real estate.

The National Assembly also emphasized the completion of mechanisms and policies on housing to ensure that every citizen can own a home that meets their living and working needs, particularly for low-income individuals and disadvantaged groups. Additionally, wage policy reforms must be implemented concurrently to ensure citizens' ability to pay.

With these requirements, the National Assembly aims to create a transparent, fair real estate market without prolonged legal violations and avoid unnecessary risks to the economy. Resolving troubled real estate projects will help release resources, drive socio-economic development, and protect citizens' rights.

PV