Vietnam has established a national housing fund to expand the supply of affordable homes under a new government decree, Vietnam News Agency reported Thursday.
The fund will be used to invest in building social housing and related infrastructure for rent. It may develop new social housing by receiving and converting public housing assets and is allowed to purchase or receive transfer of units from state-owned enterprises, according to the report.
The fund's capital will come from the state budget, revenue from the sale of public housing assets, proceeds from land auctions, and contributions from lawful sources, according to the National Assembly's resolution.
The government targets at least 1 million affordable housing units by 2030, with 100,000 targeted for completion this year.