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blue-check Commercial housing projects are not allowed to borrow foreign loans

Official letter No. 2182/BXD-QLN dated June 14th, 2021 of the Ministry of Construction regarding capital raising for projects investing in real estate trading
Posted: 22/6/2021 3:49:13 PM | Latest updated: 2/8/2021 1:17:05 PM (GMT+7) | LuatVietnam: 5234 | Vietlaw: 520
VietlawOnline

According to clause 4 Article 69 of the Law on Housing No. 65/2014/QH13status2 , commercial housing projects may use loans provided by credit institutions, financial institutions operating in Vietnam.

Accordingly, applicable laws do not allow borrowing foreign loans, including loans provided by foreign credit institutions, to execute commercial housing projects in Vietnam. This means that commercial housing projects are banned from borrowing foreign loans for development of the projects.

In addition, applicable laws on housing do not regulate allocation of loans for execution of construction items in projects investing in construction of commercial housing.

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Published Vietlaw's Newsletter No. 520
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Real estates trading