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Ministry to simplify real estate procedures   2008-07-21 - VNA

 
An apartment block built by Hoang Anh Gia Lai Co. in HCMC’s District 7  

The Ministry of Construction announced at a recent seminar that it will shorten administrative procedures for real estate investment.

 

 

Minister of Construction Nguyen Hong Quan said the ministry would issue a standard form for housing construction investment procedures in the near future.

According to the ministry’s recent survey of new urban zone construction projects, each project took an average of 33 administrative procedures and three years to be completed.

The standardized form is expected to cut the number of procedures to just eight and the new time frame should span just one year.

Extensive administrative procedures have posed obstacles for the development of construction projects, creating a shortage in supply of real estate projects in the market.

The ministry has also asked the People’s Committees of provinces and cities to check and eliminate any unlawful procedures they have issued.



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