Construction ministry agrees on establishment of specialized bank for real estate sector

The Vietnamese Ministry of Construction (MoC) has recently agreed with the proposal of Vietnam Real Estate Association (VREA) on the establishment of a specialized bank for real estate sector and suggested the State Bank of Vietnam (SBV) to study this proposal.
The ministry said that this model is consistent with Vietnam’s current socio-economic development situation and development trend in the construction bank sector of countries in the world.

The establishment of construction bank will help support national housing programs such as houses for the poor, houses for students and low-income people in urban areas or construction materials production programs.

This will be an effective capital mobilization channel for real estate market, contributing to managing and developing a transparent and sustainable market, contributing to the country’s economic development and meeting the needs of people. – Vietbiz24

Posted by VBN on Feb 24 2012. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry