Vietnam’s booming economy needs to help accommodate its workers.
As Vietnam’s property market takes steps in an upwards direction, the Prime Minister, Nguyễn Xuân Phúc, has called on more social housing to be built. At a meeting yesterday in Hanoi with ministries and localities, the Prime Minister stressed how it was upon them to take the responsibility of providing social housing for the country.
Requesting for models to be devised to make social housing happen across the nation, he argued that there is a need for to provide accommodation for the 1.7 million workers in industrial parks. Whilst there is huge focus on the real estate industry in Vietnam, which the economy is benefiting from, this construction boom across the country is drawing people that need to he housed.
The Prime Minster recognised the importance of the state to provide such housing, he also said that owners of industrial parks need to take their share of responsibility too and help with the shortfall. He instructed the Ministry of Construction to focus on compiling legal documents to help develop social housing. He also placed a strong emphasis on the need to improve the quality of social housing as well as provide the necessary infrastructure to fit around it such as transport, education, health and culture.
So far 3.7 million square metres of social housing has benefited half a million low-income earners. However this only meets between eight and nine percent of the demand. There is approximately 2.8 million people working in industrial parks, 1.7 million of which are without a home.