Construction ministry considers it necessary to increase urban housing supply by 70 million sq m each year to cater to rising demand.

Authorities in the northern province have asked investors to meet their outstanding payment obligations or face the consequences.

Project consists of three buildings with 480 apartments, accommodating between 1,450 and 1,900 people.

State should only create mechanisms, with investors and enterprises sharing the risk.

Speaking at a dialogue entitled “Improving the law on bad debts after the pilot of Resolution 42 ends”, organized by Vietnam Economic Times / VnEconomy, analysts acknowledged that there are many shortcomings in the process of property management. They recommended building a proper debt trading market that buys and sells both bad debts and regular debts.