HCM City leader hears difficulties facing local property developers

15:30 | 09/06/2016 Society

Politburo member and Secretary of Ho Chi Minh City Party Committee Dinh La Thang was updated with the current obstacles hindering the development of the local real estate market at a working session with the HCM City Real Estate Association (HoREA) on June 6.

HCM City leader hears difficulties facing local property developers

Secretary of the HCM City Party Committee Dinh La Thang addressing the working session - (Photo: thanhnien.com.vn)

As raised at the meeting, the biggest difficulties were cumbersome administrative procedures and a lack of consistency between functional agencies and local authorities in granting construction licenses, evaluating projects, and land clearance and compensation.

In addition, both enterprises and banks are lacking information on the local real estate market, which has made supply exceed demand and led to the unbalance from locality to locality.

Speaking at the event, Secretary Thang hailed the significant contributions of the real estate sector to HCM City’s economic growth over the past years, affirming the city’s commitment to constantly supporting property businesses and proactively removing difficulties in terms of mechanism to boost the sector’s development.

He urged authorised agencies and local authorities to make administrative procedures simpler, and more public and transparent, and immediately abolish unnecessary procedures in order to best serve enterprises and people.

The city leader asked the Department of Construction to promptly identify the rights of the district-level authorities and local departments in the fields of construction and real estate, as well as review all the planning and projects across the city to make them known to businesses and citizens./.


Source: NDO


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