Vietnam to Form Real Estate Trading Group

Prime Minister Nguyen Tan Dung just required the Ministry of Construction to complete the plan to set up a real estate business group. This is the contents of the Prime Minister’s Instruction 854/CT-TTg on implementation of a conclusion of the Politburo of the Central Committee Communist Party of Vietnam, which approves the pilot of the state economic group and the transferring of all wholly state-owned enterprises to joint stock entities.

 

In this document, he assigned the Ministry of Planning and Investment to quicken the completion of the draft decree on piloting economic group model and then submit the cabinet leader for approval, which is expected in July 2009.

 

He also designated the Ministry of Finance to consider and decide investment percentage in non-core business fields in economic groups and correct investment items in banking, trading, securities and real estate sectors.