THE PRIME MINISTER
SOCIALIST REPUBLIC OF VIET NAM
Independence – Freedom - Happiness
No. 105/2007/QD-TTg
Hanoi, July 13, 2007
 
DECISION
APPROVING NATIONAL HOUSING FINANCE POLICY ORIENTATIONS UP TO 2020
THE PRIME MINISTER
Pursuant to the December 25; 2001 Law on Organization of the Government;
Pursuant to the December 12,1997 Law on the State Bank of Vietnam and the June 17, 2003 Law Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to Loan Agreement No. 1990- VIE (SF) signed on July 31, 2003, between the Socialist Republic of Vietnam and the Asian Development Bank (ADB);
At the proposal of the State Bank Governor in Report No. 28/TTr-NHNN of March 30, 2007,
DECIDES:
Article 1. To approve national housing finance policy orientations up to 2020 with the following principal contents:
I. OBJECTIVES
To strive to establish a healthy, efficient and sustainable housing finance system, contributing to boosting national socio-economic development; to create jobs, increase incomes and improve the quality of peoples life, especially by increasing the peoples house ownership rate. To achieve these objectives, it is necessary to build a system of consistent mechanisms, policies and legal institutions, create a favorable, attractive and open environment for organizations and individuals to take part in building and developing the national housing finance system.
II. PRINCIPLES
National housing finance policy orientations up to 2020 have been formulated in line with the Vietnamese Partys and States strategic viewpoints and policies on socio-economic development up to 2010 and development orientations to 2020, specifically:
1. Adhering to the principles of relying on internal resources and attaching importance to external resources (internal resources are decisive while external resources are important); liberating, exploiting and promoting internal resources and, at the same time, turning external resources into internal resources, making external resources contribute to increasing internal resources:
2. Focusing on developing housing finance relations suitable to the market mechanism. In the initial stage of housing finance development, the State plays a decisive role in strengthening and developing a primary house-mortgage, market, forming and developing a secondary house-mortgage market. National housing finance policy orientations will cover solutions enabling social policy beneficiaries to access capital sources reserved for housing;
3. Exploiting and mobilizing to the utmost financial resources for housing, especially medium- and long-term financial sources, efficiently distributing and using these resources, contributing to increasing the peoples house ownership rate;
4. Serving as a basis for building a legal framework for the Slate to manage housing finance by law;
5. Combining important economic policies such as capital raising policy, policy to enhance the institutional capacity of participating financial institutions, public financial policy, construction policy and land policy; conforming to the housing development strategic viewpoints adopted by the Prime Minister in Decision No. 76/2004/QD-TTg of May 6, 2004, approving housing development orientations up to 2020.
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