Hanoi, July 23 -- Vietnam's Ministry of Construction has proposed the creation of a National Housing Fund, with initial capital of 5-10 trillion VND (200-400 million USD), aimed at boosting social housing supply for low-income groups.

Under a draft decree, the fund will operate at two levels, including a central fund managed by the ministry and local funds overseen by provincial governments. Both will have independent legal status and be allowed to manage finances through the State Treasury or commercial banks.

The central fund will receive its initial capital of 5 trillion VND from the state budget, expected to double within three years. Additional funding could come from public housing sales, land-use revenues, investment income, and ...