Vietnam Construction Loans to Spur Property Sales: SBV
This article is for subscribers only.
Vietnam’s central bank and five state-run lenders are drawing up a loan package to bolster the struggling property market and help spur economic growth. Real estate stocks rose.
The program, worth about 70 trillion dong ($3.3 billion), will “connect investors, contractors and suppliers in construction projects and create conditions for them to cut costs and lower prices, in order to spur sales,” Nguyen Viet Manh, head of the lending department at the central bank, said in a phone interview yesterday. The package will be put in place “soon,” he said.