Many important suggestions for the real estate market in 2023 are still “stuck”

Vietstock – Many important recommendations for the real estate market in 2023 remain “stuck”

HoREA has made many important suggestions on the real estate market to the Prime Minister, but they are still “stuck” and have not been implemented by various ministries and commissions in 2023, which has greatly affected the production of the real estate market in 2024.

Mr. Le Hoang Chau, Chairman of the Real Estate Association said Ho Chi Minh City (HoREA), in 2023, the Prime Minister, various ministries, commissions, and localities have many plans to “save” the real estate market. Therefore, the real estate market has passed the “bottom area” and is in the process of gradual recovery, which may begin to develop in the second half of 2024. However, some directives from the government and the Prime Minister in 2023 have not yet been fully implemented by ministries and departments.

A typical example is the proposal to promulgate the “Decree on the Modification and Supplementation of Certain Articles of Decree No. 44/2014/ND-CP on the Adjustment of Land Prices” as soon as possible to solve the problem of calculating money for land valuation. Hundreds of real estate and commercial housing projects ensure that state budget revenue is not lost, issuing “pink books” to customers and requiring project investors to fulfill their obligations, duties and responsibilities.

Or the regulations to remove obstacles in the investment field, including the “simultaneous investment policy approval and investor approval” procedures for social housing projects and commercial housing projects, and are generally applicable nationwide. This content is related to Government Decree No. 31 and Resolution No. 33, and in accordance with Congress Resolution No. 98/2023/QH15 on piloting a number of specific development mechanisms and policies. Ho Chi Minh City.

The association also proposed to amend Decree No. 132/2020/ND-CP to no longer limit the total loan interest expenses to no more than 30% of the total net profit from operating activities of domestic enterprises during the period. ; Suggestions on strengthening control and strictly handling related-party transactions, transfer pricing by enterprises, exaggerating costs and tax evasion… have also not been implemented.

It is recommended that the National Bank review and evaluate the implementation of relevant notices and official letter No. 1177/CD-TTg, and modify, supplement or abolish inappropriate regulations to facilitate access. Providing favorable credit to people and businesses and effectively supporting the corporate bond market..

It is recommended that Resolution No. 42/2017/NQ-QH14 (Resolution No. 42) be extended for another 12 months to December 31, 2024, to create conditions for credit institutions to effectively handle bad debts, including the handling of real estate project secured assets.

This has created conditions for credit institutions to effectively handle bad debts from 2017 to the present, especially the mortgage assets of real estate projects, but Resolution 42 will expire.Not to mention the Dharma Sutra United Real Estate 2023 will not take effect until January 1, 2025, so there will be a “legal gap” in 2024, and Congressional Resolution 42 has expired.

Sun Nong