Vietnam Hanoi

New social housing projects would be concentrated in localities with major industrial parks, or large urban cities, such as Hanoi, and Ho Chi Minh City.

For the next 30-50 years, Hanoi and Ho Chi Minh City should consider expanding the underground spaces, seen as a more cost-effective solution to high-density urban areas.

The banking sector will continue providing support for its customers affected by the pandemic, including ongoing efforts to restructure debt payments and waive and cut interest rates.

Efforts to prevent property prices from rising have been left unfinished due to the low supplies of social housing and many projects remaining frozen on legal issues and complicated administrative procedures.

Under the new resolution, Hanoi would take the leading role in the industrialization and modernization process by 2030 as well as serve as the growth engine of the region and the country overall.

The city is seeking investment capital sources for ongoing transport projects, which open doors to donors such as World Bank.