Construction of the bridge started in April 2022 at a total cost of over 456 billion VND (19.8 million USD) sourced from the provincial budget. The bridge has a total length of about 445m and a width of 16m, with two approach road sections stretching 800m. It lies on Hanoi - Bac Giang expressway, crossing Cau river.

Prime Minister Pham Minh Chinh speaks at the event.

Speaking at the inauguration ceremony, PM Chinh said the bridge will help promote socio-economic development in the northeastern region in general and Bac Giang in particular, as it serves as a gateway to the province.

He expressed his hope that after the bridge was inaugurated, people will travel more conveniently, contributing to realising the Politburo’s resolution on the development of the Red River Delta.

In the afternoon of the same day, the PM attended the groundbreaking ceremony for a second-phase social housing project for workers in Nenh town in Viet Yen district of Bac Giang province.

At ribbon-cutting ceremony for Nhu Nguyet bridge 2.

The project, covering a total area of up to 12.6ha, consists of 16 20-storey apartment buildings and is estimated to cost nearly 5 trillion VND (212.5 million USD). It is expected to provide round 7,000 apartments for over 20,000 workers in the province.

In the first stage, 2,500 apartments will be delivered by the end of March 2024. Meanwhile in the second stage, more than 1,500 apartments will be built and handed over in the fourth quarter of 2024.

Speaking at the groundbreaking ceremony, PM Chinh asked Bac Giang and localities to continue allocating resources and land for social housing development projects.

At the ground breaking ceremony of social housing projects for workers in Bac Giang.

Financial institutions, particularly the Vietnam Bank for Social Policies must create favourable conditions for low-income individuals and workers in industrial zones to access capital and purchase or rent social housing.

On the occasion, he called on departments, localities and businesses to join hands and fulfill the goal of building at least 1 million social housing units for low-income individuals and workers in industrial zones by 2030.

Preferential lending interest rate for social housing buyers set at 4.8% per year

The preferential lending interest rate for social housing purchase and lease purchase, new construction and house repair will be 4.8% per year from May 10, 2023 to December 31, 2024.

120 trillion VND credit package for affordable housing development

The government recently issued Resolution 33, which features a number of measures to address the difficulties and foster the safe, healthy and sustainable development of the property market, in which a credit package of 120 trillion VND (5.1 billion USD) was proposed to support social housing development.

Central bank starts huge credit package for social housing projects

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.

Deputy PM requests tackling obstacles in social housing development

Deputy Prime Minister Tran Hong Ha has requested promptly tackling obstacles in social housing development policies and mechanisms, with incentives in infrastructure, land and finance for developers engaged in the effort.

Prime Minister calls for more affordable housing

Prime Minister Pham Minh Chinh issued statements Monday urging property developers to combat the housing shortage by building more affordable homes that “meet the needs of more people.”

Source: VNA