HCMC accelerates support on worker housing projects

Most of the businesses that can maintain production activities during the prolonged strict social distancing mandate in Ho Chi Minh City last time are those that have provided shelters for migrant workers.

HCMC accelerates support on worker housing projects

Migrant workers in their dormitory 

Therefore, the southern metropolis is accelerating support on worker housing projects.

Stable, decent-quality and affordable housing is also critical for communities and the overall economy. Housing instability can impede migrant workers’ ability to secure and maintain employment.

Deputy General Director of Ho Chi Minh City Finance and Investment State-owned Company (HFIC) Nguyen Hong Van revealed the financial solutions that the company has been implementing following the city's above policy.

HFIC has determined to focus on supporting investment in housing projects for low-income people, workers, and student dormitory in its loan and investment index for the period 2021-2025 that has just been approved by the People's Committee of Ho Chi Minh City. In particular, the city's stimulus program will give capital for worker housing projects.

Several housing projects for workers such as investment projects to build apartment complexes for workers in the resettlement area of Tan Tao Industrial Park, investment projects in housing for workers of Truong Thinh Investment-Construction Company and a worker accommodation project in Binh Chanh District’s Tan Nhut Commune have been financed by HFIC.

Currently, HFIC is supporting loan procedures for a worker accommodation project in Thu Duc City’s Thanh My Loi ward, which started on October 30, 2021. The project will provide about 1,100 apartments for employees, helping businesses in the area.

In addition, HFIC is also studying formalities for four other housing projects in District 7. City administrations are reviewing land funds for housing development for low-income earners in the period 2021-2025.

Furthermore, city authorities will consider the plan of industrial parks and export processing zones in connection with neighboring provinces including the Mekong Delta Province of Long An and the Southern Province of Binh Duong in a bid to create a land fund for worker accommodation. Preferential policies on tariff and land use charges must be considered to attract social contributions and ensure state management on rent.

 

Most rental houses are built by residents whereas the limited supply of worker accommodation from project investors; as a result, workers must reside in an unsafe and unhygienic environment in private rental houses.

It is therefore necessary that more people are eligible for low-interest loans for cheap commercial housing projects. Moreover, workers and laborers are entitled to ask for loans with low interest to buy a house.

Project investors who meet HFIC’s requirements will be given loans and HFIC will be willing to help them in completing formalities during the process.

Nguyen Van Be, Chairman of HCMC Business Association, said that approximately 288,000 workers are working at 1,500 enterprises in 18 industrial and export processing parks and hi-tech parks in HCMC.

However, existing dormitories in industrial parks and export processing zones just meet 5 percent – 10 percent of workers’ demand; hence, this is a favorable time for businesses to invest in expanding worker accommodation. The city should have policies to support loans, loan interest rates and simplify administrative procedures for construction permits to facilitate businesses’ worker accommodation projects at low prices.

Vice chairwoman of the Sai Gon Hi-Tech park’s management board Le Bich Loan informed that of 52,000 employees at hi-tech park enterprises, 36,747 of them need a house. The Management Board of Sai Gon Hi-Tech Park worked with Thu Duc City to determine the land fund for the construction of worker accommodation. She petitioned that the city should soon have the policy to allocate land to investors to speed up the construction of worker accommodation.

In particular, the city needs to issue a set of standards for the quality and specifications of workers' accommodation, to deter investors from building poor-quality housing which is associated with various negative health outcomes on workers.

Source: SGGP

VND30-trillion credit package proposed to build homes for workers

VND30-trillion credit package proposed to build homes for workers

The Ministry of Construction has proposed a VND30 trillion credit package for projects to build low-cost homes for workers.

 
 

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