On July 1, 2025, the Government promulgated Decree No. 192/2025/ND-CP detailing and guiding the implementation of certain articles and enforcement measures of Resolution No. 201/2025/QH15 dated May 29, 2025 of the National Assembly on the pilot implementation of specific mechanisms and policies to promote the development of social housing (“Decree 192”). Notable provisions of Decree 192 include:
1. Concurrent Investment Policy Approval and Investor Appointment for Social Housing Projects Even When the Land is Not Yet Included in Planning or Housing Development Programs/Plans
Decree 192 introduces simplified and expedited procedures for appointing investors in social housing projects, as follows:
a) For investment projects that have already obtained investment policy approval, investment approval, or equivalent legal documents before July 1, 2025, the investor shall be appointed without a bidding process:
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If the project is proposed by an investor, the investor shall submit the application dossier to the Department of Construction to request investor appointment.
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If the project is prepared by a competent state agency, the Department of Construction shall publish the project information so that investors may register interest. Interested investors shall submit application dossiers to the Department of Construction for appraisal.
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Upon receipt of the proposal, the Department of Construction shall conduct appraisal within 15 days and submit it to the Provincial People’s Committee. The Provincial People’s Committee shall review and issue a decision on investor appointment within 7 days from the date of receiving the dossier and appraisal report.
b) For projects that have not yet been granted investment policy approval, investment approval, or equivalent documents, concurrent approval and investor appointment shall be conducted:
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If the investor holds land use rights through an agreement or is currently using part or all of the project land area, or if the proposed project has not been publicly disclosed in accordance with regulations, the investor shall submit a dossier to the Department of Construction for appraisal. The Department shall appraise the dossier within 30 days and submit it to the Provincial People’s Committee. The Committee shall issue a decision on investment policy approval and investor appointment within 7 days from receipt of the dossier and appraisal report.
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For all other cases: the Provincial People’s Committee shall publicly announce project information so that interested investors may submit dossiers. The Department of Construction shall appraise the dossiers within 15 days after the end of the public disclosure period and submit to the Provincial People’s Committee. The Committee shall make a decision on investment policy approval and investor appointment within 7 days from the date of receiving the dossier and appraisal report.
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In case the project land location is not available or not aligned with the planning, or is not part of any housing development program/plan, then after approving investment policy and appointing the investor, the Provincial People’s Committee shall organize the formulation, update, or adjustment of relevant programs, plans, and land-use planning as a basis for subsequent project steps.
2. Facilitated Adjustment of Investment Projects by Investors
Decree 192 allows the investor to make independent adjustments to the project compared to the investor appointment decision or the concurrent investment policy and investor appointment decision, provided that such adjustments comply with applicable laws. The investor is only required to carry out procedures to amend the appointment decision or the concurrent approval decision in the following cases:
a) Change in investor eligibility conditions;
b) Change in project objectives;
c) Change in land area of over 10% or over 10 hectares, or change of project location;
d) Extension of project implementation time where the total duration exceeds 12 months compared to the approved schedule in the relevant decision;
e) After investor appointment, the investor forms a legal entity (such as a joint venture) to implement the project.
3. Prioritization of Financial Capacity (Equity Capital) in Investor Evaluation for Social Housing Projects
Resolution No. 201/2025/QH15 allows for investor appointment and concurrent investment policy approval without bidding for social housing projects and housing for the armed forces, provided that public investment capital is not used. To ensure effective implementation, Decree 192 provides the following principles for investor selection when two or more investors apply:
a) Financial capacity: Priority is given to the investor with higher equity capital allocated to the project.
b) Experience criteria: Priority is given to the investor with more experience as project owner, having completed a greater number of housing development projects with comparable or larger land area and total investment.
c) Investor is a state-owned enterprise: Priority is also given in this case.
4. Decree 192 Prevails Over Other Equivalent Legal Instruments Unless More Favorable Provisions Exist
a) In case of conflicting provisions between Decree 192 and other government resolutions or decrees on the same matter, the provisions of Decree 192 shall apply.
b) In case other legal instruments contain more favorable provisions, entities subject to Decree 192 may choose to apply the more favorable legal instrument.
Decree No. 192/2025/ND-CP enters into force on July 1, 2025.
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