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Vietnam Green Housing Program facilitating people’s access to affordable housing

January 07, 2021 | 07:26

A Memorandum of Understanding (MOU) signing ceremony on new partnership between the Ministry of Construction’s Housing and Real Estate Market Administration (HREMA) and the German Development Cooperation’s GIZ SIPA Programme, aiming to reduce Green Gas Emissions In The Residential Building Sector took place on January 6.

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MOU signed to develop Vietnam Green Housing Program
At the signing ceremony for the programme. Photo: GIZ

Ha Quang Hung, Deputy Director General of the Ministry of Construction’s Housing and Real Estate Market Administration (HREMA), and Kia Fariborz, Director of the German Development Cooperation’s GIZ SIPA Programme, signed a MoU to cooperate on development of the Vietnam Green Housing Program (VGHP).

The VGHP, implemented under the Programme for Energy Efficiency in Buildings (PEEB) in Vietnam, aims to benefit the mid-income housing market through targeting the low-cost commercial housing segment. The MoU focuses on enabling greenhouse gas (GHG) emissions mitigation in the residential building sector.

Under the partnership, GIZ and HREMA will cooperate to develop and implement the VGHP. A particular focus of the program is on improving energy efficiency and reducing GHG emissions in the affordable housing segment as per Vietnam’s commitment in its Nationally Determined Contribution to the Paris Agreement on Climate Change.

Through cooperation on the Vietnam Green Housing Programme, the partnership aims to motivate private housing developers to move into the market for energy-efficient and green buildings, and stimulate local commercial banks to develop green financing products for energy efficient housing and green construction materials.

Regarding this issue, Hung highly appreciated the initiative for integrating the PEEB’s goal of energy efficiency and low emissions with the Government’s goal of low-cost commercial housing development. According to calculations, within 10 years after reaching the target of the Green Housing Program, the apartment buildings will save about 6.3 billion kWh of electricity, equivalent to VND 15.8 trillion (over USD 682 million).

This is a significant cost saving that will benefit the home buyers if they use energy efficiently in the apartment. In addition, in the short term, the program will create a plentiful supply of low-cost commercial housing, thereby facilitating the people’s access to affordable housing.

MOU signed to develop Vietnam Green Housing Program
After the Green housing programme is completed in 10 years time, VND15.8 trillion will be saved, a significant figure for homeowners.

The PEEB is a joint initiative between Germany and France that combines consulting, financial resources, and technical expertise from GIZ, Agence Française de Développement (AFD), and Agence de l’Environnement et de la Maîtrise de l’Énergie (ADEME) to help partner countries increase energy efficiency in buildings.

Kia Fariborz, Chief Technical Advisor at GIZ said that as an emerging economy, Vietnam is witnessing a sharp increase in demand for space and housing expansion due to a rapid growth in the middle class. Thus, the collaborative efforts will contribute to realising the goal of reducing greenhouse gas emissions in Vietnam, he noted.

Through the Green housing programme, cooperation between the two sides will promote private investors to participate in both the green building market and energy efficiency. At the same time, the programme willencourage domestic commercial banks to develop green credit products for both investors and home buyers, as well as suppliers of green equipment and materials in the area of low-cost housing./.

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