VOV.VN - The National Assembly Standing Committee has agreed to a 30% reduction in land rent for 2024 for all land users and has authorized the Government to issue a decree on this matter.

The completion of financial-budget tasks requires strong, creative and flexible efforts as well as high determination not only from the financial sector but all sectors, localities and especially people and businesses, stated Minister of Finance Ho Duc Phoc.

The industrial real estate market, particularly in the southern region, held steady in the first months of this year, which experts said was mainly thanks to rebounding imports and exports, and increasing influx of foreign investment.

Industrial real estate was the only bright spot in the real estate market in 2023. As more foreign investors came in Vietnam, the demand for industrial land and ready-made workshops increased, pushing rental prices up.

Despite the Government’s efforts to remove challenges facing the real estate market, it won’t prosper until the end of next year, experts have warned.

Prime Minister Pham Minh Chinh has decided to reduce land rent by 30% for those affected by the COVID-19 pandemic this year.

The Ho Chi Minh City People’s Committee has made several suggestions for the Ministry of Finance’s decree to support businesses and individuals affected by the COVID-19 pandemic, including ensuring bank lending rates are no more than 2% higher than deposit interest rates.

VOV.VN - A number of small and medium enterprises (SMEs) in Ho Chi Minh City, the largest coronavirus hotspot in Vietnam, have urgently called for immediate assistance from the Government in order to help them cushion the impact caused by the COVID-19 pandemic.

The industrial market is the only real estate sector that has enjoyed positive progress in both rental rates and occupancy rates during the COVID-19 pandemic.