Real Estate Procedures Get Simpler

The Ministry of Construction announced at a recent seminar that it will shorten administrative procedures for real estate investment.

Nguyen Hong Quan, the Minister of Construction, said that the ministry would issue a standard form for housing construction investment procedures in the near future. He made the comments at the recent seminar on administrative procedures and reform on real estate investment.

According to the Ministry of Construction’s recent survey of the new urban zone construction projects, each project took an average of 33 administrative procedures and three years to be completed.

The ministry’s new form is expected to cut the number of procedures to just eight and the new time frame should span just one year.

The extensive administrative procedures have been obstacles for the development of construction projects, creating a shortage in supply of real estate projects in the market.

“To get a construction project approved, we submitted more than 40 documents,” said Dang Hoang Vu, general director of Thanh Binh Real Estate Joint Stock Co.

Chairman of Ho Chi Minh City ’s Real Estate Association Le Hoang Chau said it was also necessary for relevant ministries and agencies to consider their management activities and reform administrative procedures.

Nguyen Van Duc, deputy director of Dat Lanh Real Estate Co, said that if the procedures were simplified, the State could help reduce wasted time and costs.

The ministry also asked the People’s Committees of provinces and cities to check and eliminate any unlawful procedures they have issued.

Additionally, the ministry has asked the Prime Minister to reform environmental review, fire prevention, land clearance, and land sales and rental procedures.

The ministry also suggested they eliminate some unnecessary procedures such as project height limitations.

 

(Source: VNA)

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