The government has proposed that non-residential land be used to build commercial housing projects amid a shortage of land funding, especially in major cities.
Developers can request to change the purpose of such land lots to residency, stated a government proposal to the National Assembly on Tuesday.
Chairman of the National Assembly’s Economic Committee Vu Hong Thanh said most lawmakers responsible for reviewing this proposal have voiced support for it.
But the government needs to ensure changes in policy won’t be taken advantage of, he added.
The government also needs to specify the conditions that a developer must meet to request a change in land use purposes, he said.
The proposal came amid a shortage of land funding in major cities like Ho Chi Minh City and Hanoi as developers focus on high-profit luxury projects while ignoring the affordable segment, despite high demand.
The government also proposed provincial and municipal authorities have more power in approving residential projects.
Only major projects (which use at least 300 hectares or designed for at least 50,000 residents) and special projects located on national heritage land should be approved by the Prime Minister, it said.
The ongoing extraordinary National Assembly session is called to discuss major and urgent national concerns like the stimulus package to revive the economy and changes to several laws.
It began Tuesday and is scheduled to end on Jan. 11.
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