National Housing Fund's charter capital expected to reach $380 mln

The Ministry of Construction has proposed establishing a National Housing Development Fund with an initial minimum charter capital of VND5 trillion ($190 million).

According to the ministry's draft decree, the capital could increase to VND10 trillion ($380 million) within three years. The entity will be fully funded and managed by the central and provincial governments.

It may also receive financial contributions from organizations and individuals, both domestic and foreign, as well as from other legally mobilized sources.

Additional capital may come from the sale of public housing managed by central agencies or from the fund’s own activities and assets.

The fund is aimed at investment in building, operating and managing social housing projects.