LH to Promote Social Housing Development Projects in Hanoi and Danang, Vietnam

Final Report Meeting on 'Vietnam Social Housing Development Comprehensive Policy Establishment Project' Held in Hanoi on the 20th
Proposing Social Housing Construction Improvement Plans in Vietnam Utilizing Overseas and Housing Construction Project Experience

[Image source=Yonhap News]

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 23rd that it held the final report meeting for the "Comprehensive Policy Establishment for Vietnam Social Housing Development" on the 20th in Hanoi, Vietnam.

Vietnam social housing refers to housing sold or rented at affordable prices to homeless groups such as military personnel, public officials, and industrial complex workers.

This project was promoted after social housing was adopted as an agenda item at the Korea-ASEAN Infrastructure Ministers' Meeting in September 2018, with LH proposing the project as a KOICA ODA (Official Development Assistance) project in collaboration with the Vietnamese Ministry of Construction.

The main contents included △ social housing demand forecasting △ comprehensive analysis of conditions for promoting social housing development △ proposals for social housing supply and standard models △ establishment of amendments to the Vietnam Housing Act.

Through this project, LH proposed to Vietnam △ amendments to the Vietnam Housing Act △ the 2021-2030 National Housing Development Strategy △ land acquisition and financing plans for social housing supply △ demand forecasting and supply targets. In response, the Vietnamese Ministry of Construction plans to revise relevant Vietnamese laws by reflecting key short-term policy improvement proposals and to gradually implement mid- to long-term proposals tailored to local conditions.

LH is promoting social housing development projects in Hanoi and Da Nang, Vietnam, as pilot projects linked to this project. The social housing in the Cobi area of Zaram District, Hanoi, is planned to be built on a 600,000㎡ site with 1,853 units and is scheduled to begin construction in the second half of next year. In particular, by applying Korean-style smart home technology, LH expects this to be an opportunity for domestic companies possessing related technologies to enter overseas markets.

An LH official said, "It is highly meaningful that LH presented a policy development plan for social housing, a major cooperation area between Korea and Vietnam, through this project," adding, "The linked pilot projects will also help domestic companies pioneer overseas markets."

This content was produced with the assistance of AI translation services.