Vietnam Affordable Housing
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World Bank, Washington, DC
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Affordable housing will be instrumental
to helping Vietnam achieve its goals for increasing
productivity and inclusive urban growth. Since Doi Moi, the
country has experienced impressive economic growth, averaged
at 7.4 percent per annum from 1990 to 2008, lowering to an
average of 6 percent per annum from 2007 to 2013. Strong
economic growth has supported a substantial reduction in
poverty, from 58 percent in 1993 to 17 percent in 20121.
Yet, the country has remained largely rural, with more than
half of its population working in the agricultural sector,
which only contributed 17 percent of GDP in 20142. In some
countries, urbanization has been used as a tool to
accelerate economic growth and poverty reduction. As Vietnam
aims to maintain a high growth rate, supporting
urbanization, where cities contribute a growing share of
jobs and GDP, will be an important measure. This structural
shift will drive population growth and new demand for
housing in cities, for which quality and affordable housing
options in well-serviced and connected settlements will be
needed. Areas of particular importance in the Law is support
toward self-built housing, the active participation of the
private sector, addressing the shortage of affordable rental
housing as well as high demand for housing from low income
groups, especially workers in industrial zones of large
cities. This report, which includes a comprehensive
assessment and roadmap for affordable housing in Vietnam,
recommends the following key messages moving forward:
increase investment, Prepare Three Flagship Initiatives
under an umbrella National Affordable Housing Program,
Institutional Strengthening, Land Tax Reform, and Create an
Enabling Environment for Affordable Housing. Moving forward,
design of the market-oriented measures described above will
require intensive and careful consultation and engagement
with all housing sector actors, particularly the private
sector. Private sector will need to play an active role in
the early preparation to ensure their participation and
commitment that carries through to implementation of policy
measures on the financing and supply side.
Palabras clave
HOUSING PROVISION, EMPLOYMENT, CAPITAL MARKETS, FINANCIAL SERVICES, REGULATORY FRAMEWORK, LAND TAXES, ACCOUNTING, DEPOSITS, URBANIZATION, REVENUE MOBILIZATION, URBAN GROWTH, RETIREMENT, FINANCIAL MANAGEMENT, PRINCIPAL, AUTONOMY, BANKING INDUSTRY, INTEREST, LAWS, GUARANTEES, PRIVATIZATION, INDUSTRY, SAVINGS ACCOUNTS, LOCAL GOVERNMENTS, BANKING SYSTEM, CAPITAL BASE, STRATEGIES, WATER SUPPLY, SERVICES, PRIVATE HOUSING, SEWAGE, PUBLIC SERVICES, HOUSING, MORTGAGE LENDING, CONSUMPTION TAXES, DEFAULT RISK, CAPITAL ADEQUACY, REORGANIZATION, LOAN CLASSIFICATION, PRICING, EQUITY • CAPITAL, PROJECTS, REAL ESTATE LOANS, ASSET MANAGEMENT, ECONOMIC STABILITY, SAVING, CENTRAL BANKS, INFLATION, OPERATING MARGINS, LAND PRICES, MUNICIPALITIES, AUDITS, BUDGET, CAPITAL LOANS, PUBLIC HOUSING, PUBLIC POLICY, EQUITY CAPITAL, LOAN PORTFOLIO QUALITY, SAVINGS, TECHNICAL ASSISTANCE, PENALTIES, PRIVATE SECTOR HOUSING, EFFECTIVE GOVERNANCE, TRANSPORT, PRIVATE BANKS, METROPOLITAN AREAS, COLLECTIONS, RECURRENT EXPENDITURES, PRODUCTIVITY, INTEREST RATES, EXTERNALITIES, MIGRATION, TRANSFERS, RECAPITALIZATION, CRITERIA, FINANCIAL INSTITUTIONS, SPECIAL CITIES, MARKETS, DEBT, LOCAL GOVERNMENT, LEGISLATION, DEFICITS, COLLECTION SERVICES, LOANS, LABOR, ENTERPRISES, BAD DEBT, RATE OF MIGRATION, NATURAL RESOURCES, LAND DEVELOPMENT, INVENTORY, LAND VALUE, SUBSIDIES, REAL SECTOR, LEGAL FRAMEWORK, FINANCE, GRANTS, ADMINISTRATIVE COSTS, INFRASTRUCTURE, TAXES, BANKING SECTOR, LAND USE, BANKS, EQUITY, INSURED DEPOSITS, LAND SPECULATION, ACCOUNTABILITY, CAPITAL, WAGES, COMMERCIAL CREDIT, IMPAIRED ASSETS, SOCIAL SERVICES, FINANCIAL STABILITY, SAVINGS PROGRAMS, SOVEREIGN RISK, SUBSIDIARIES, VALUE, GOVERNMENT BANKS, BANK, STATE ENTERPRISES, CREDIT, BUDGETS, LARGE CITIES, COLLATERALIZATION, PRUDENTIAL REGULATIONS, MANAGEMENT INFORMATION SYSTEMS, EQUITY INVESTMENTS, INCOME DISTRIBUTION, CAPITALIZATION, PUBLIC TRANSPORT, PROPERTY, MANDATES, FOREIGN BANKS, AFFILIATES, TRADE UNIONS, RENTAL HOUSING, MARKET VALUE, URBAN DEVELOPMENT, ACTUAL COST, PUBLIC DEBT, SUBSIDIARY, RISK FACTORS, CONTRACTUAL SAVINGS, PROFITABILITY, CREDIT RISK, GOVERNANCE, INSURANCE, CAPITAL GRANTS, TAXATION, MICROFINANCE, NEW ENTRANTS, HOUSING DEMAND, PUBLIC AGENCIES, PROPERTY TRANSFERS, LAND, RESERVE RATIOS, RISK, COMMERCIAL BANKS, SAVINGS PAYMENTS, MORTGAGE LOANS, SUBNATIONAL GOVERNMENTS, BANKING, CIT, FINANCIAL PLANNING, DECENTRALIZATION, REVENUE, RISK MANAGEMENT, LOCAL GOVERNMENT STRUCTURES, LENDING, CAPITAL EXPENDITURES, TAX REFORM, SAVINGS SCHEMES, ADB, GOVERNMENTS, URBAN HOUSING, PUBLIC TRANSPORTATION, BANK OF THAILAND, LAND VALUE TAXATION, INTERNATIONAL BANKS, COST OF CAPITAL, LAND SUPPLY, NONPERFORMING LOANS, AUDITING, CAPITAL ADEQUACY RATIOS, LENDING INSTITUTIONS, CONSOLIDATION, GOVERNMENT INTERVENTION, HOUSING LAWS