The Government issued Resolution No.33/NQ-CP dated 11 March 2023 on several solutions to remove difficulties and promote safe, healthy, sustainable development of the real estate market with some notable contents as follows:

• The Resolution sets goals as follows:
  • Removing difficulties and obstacles, especially in institutions, organization of implementation and capital sources for the real estate market;
  • Promoting the development of the real estate market, increasing supply and at the same time adjusting the structure of real estate market products more rationally, focusing on the development of social housing, workers’ housing, housing suitable to the people’s income; and
  • Monitoring and supervising effectively the market status to promptly take appropriate measures and solutions to prevent the market from “hot development” or “freezing”, spreading rumors and speculations to hike real estate prices for illicit profits, causing an imbalance between supply and demand and ensure healthy operation according to the market mechanism.
• The main tasks and solutions for corporate bond source:
  • Directing and guiding capital-raising activities (including bond issuance) of real estate trading enterprises on the stock market to comply with the law;
  • Controlling capital-raising activities of real estate trading enterprises on the stock market to prevent speculation, price manipulation and hiking. At the same time, creating conditions, not hindering enterprises (with sufficient capacity and good and healthy business performance…) to raise capital for recovery and development;
  • Inspecting and supervising the compliance with the law on issuance, investment and provision of services on corporate bonds, especially private placement of bonds by real estate enterprises and credit institutions related to real estate enterprises, enterprises with large bond issuance volume, high-interest rates, loss-making enterprises and bond issuers without collateral; and
  • Studying and proposing synchronous policies and solutions to develop the corporate bond market in a safe, healthy, and sustainable manner.
• This Resolution was issued to remove difficulties for the real estate market in Vietnam. Accordingly, the Government needs implement this Resolution carefully and with a plan, coordinate closely and in detail with ministries, branches, central authorities, localities and relevant authorities and units, which will boost Vietnam’s real estate market in the near future.