Construction Ministry to Set Up Three Economic Groups

The Prime Minister approved November 8 the plan of rearrangement and reform 100 per cent of state-owned enterprises under the Ministry of Construction in the period of 2007 –2010.

 

Accordingly, the one-member state-owned Housing and Urban Area Service Company, Ltd. under the House and Urban Development Corporation, and the one-member Haiphong Shipbuilding and Equipment Manufacture Company, Ltd. under the Vietnam Machinery Manufacturer Corporation will be kept unchanged as currently.

 

The Ministry of Construction will sell stake in 22 companies in the period of 2007-2008, and privatise 13 corporations under the ministry in the period of 2007-2010.

 

The Construction Publishing House, Viglacera Shower Company (under Vietnam Glass and Ceramics for Construction Corporation), and the Construction & Transport Co. (under Bach Dang Construction Corporation) will be arranged in another form, such as transformed to branch, one-member limited company, semi business or to be dissolved.

 

In the fourth quarter of this year, the Ministry of Construction will submit plans for Prime Minister's approval to set up three economic groups, namely Industrial Construction Group with Song Da Corporation as the core, Heavy Machinery Manufacturer Group chaired by Vietnam Construction and Machinery Installation Corporation, and the House and Urban Development Group chaired by the House and Urban Development Corporation.

 

The Prime Minister has asked the Minister of Construction to guide the implementation of arranging and reforming state-owned enterprises under the ministry in accordance with the approved content. At the same time, the ministry has to actively carry out arrangement forms for the above businesses and businesses that are included in the list of privatization, but can not be privatised.