Ending Pilot Period of VNIC and HUD

Together with the decision to end pilot period of VNIC Group and HUD Group after more than 02 years of operation, Prime Minister Nguyen Tan Dung assigned the Ministry of Construction to set up two corresponding corporations, namely Song Da Corporation - from the restructuring of Song Da Group and its affiliates, and Housing and Urban Development Corporation from the restructuring of Housing and Urban Development Holdings Group and member companies. The ministry will also build privatisation plans for these two corporations and submit them to the Prime Minister for consideration and decision.

 

The ministry is responsible for transfer Lilama, HUD and Bach Dang Construction Corporation to the Ministry of Construction and equitise them.

 

In addition, the powers of State equity at Song Hong Corporation and Construction Investment and Development Corporation from Song Da Group will be transferred to the Ministry of Construction. Chairman, Members of the Board of Members, and CEOs of these corporations will be appointed.

 

This Decision takes effect from October 2, 2012.