Appearance Ceremony of Viet Nam Housing and Urban Development Group (HUD Group)

In the morning of the 24th March 2010, the Appearance Ceremony of Viet Nam Housing and Urban Development Group (HUD Group) was formally held at the National Conference Center in Ha Noi.

Minister of MOC Nguyen Hong Quan had
speeches at the Ceremony

To the Ceremony, the Ceremony were
pleased to have Mr. Dong Sy Nguyen, the former member of Politburo, the former
Vice Prime Minister of the Government, Mr. Pham The Duyet, the former member of
Politburo, the former Chairman of Vietnamese Fatherland Front Committee, Mr.
Nguyen Hong Quan, Minister of Construction Ministry; Mr. Tran Van Tuan,
Minister of Home Office; Mr. Pham Viet Muon, Vice Chairman of the Government
Office; and Representatives from offices, ministries; Central groups, and other
cities such as: Kien Giang, Hai Duong, Bac Giang, Cao Bang, Phu Tho, Ha Noi, Ho
Chi Minh City, leaders of Vietnamese Construction Union, leaders of member
Companies in Group; Representative of Lao, CuBa, Singapore, Korea from the
embassy in Viet Nam.  The ceremony also had pleasure to receive the
Congratulation Flowers from the General Secretary Nong Duc Manh, the Chairman
of National Assembly Nguyen Phu Trong, Governmental President Nguyen Tan Dung
and the Congratulation Letter from the Former General Secretary Do Muoi.

For and on behalf of HUD Group, the
Labour Hero Nguyen Hiep – Chairman of Management Board presented the statement
of Group’s establishment process.

HUD Group has been established on the
objective needs of the real estate market and the policy of the Party and State
that a State pilot economic group of real estate field must be presented to
make competition in the international economic integration and housing
development and real estate market adjustment. On the 12th January 2010, the
Governmental Prime Minister signed the Decision No.54/QD-TTg for approving a
pilot project of establishing Viet Nam Housing and Urban Development Group (HUD
Group) in which Housing and Urban Development Corporation (HUD) is the key
member and others participants under MOC as Hanoi Construction Corporation
(HANCORP), Glass and Ceramic Corporation (VIGLACERA), Bach Dang Construction
Corporation (BDCC) and Vietnam Investment, Construction and Water Supply and
Drainage Corporation (VIWASEEN). On the same day, the Governmental Prime
Minister also signed the Decision No.55/QD-TTg for establishing the Parent
Company –  Housing and Urban Development Group (HUD Holdings) being based
on reorganizing the mechanism of management, operation, advice, project
management boards, subsidiaries of HUD.

Appearance Ceremony of HUD Group has
marked an important landmark for the development of all HUD Holdings’
participants. Beside the making good conditions to promote ability of each
member, the business combination of the group will help members to carry out
the professionalization suitably; raise the sense of initiative in using the
input factors of the production & business process; approach and open the
market; improve technology application… that make chances to have potential

Mr. Nguyen Hong Quan – Minister of MOC
awards Decision and Flowers to the Members of Management Board 
of HUD Holdings

To implement the strategical target
“urban and housing development in period of 2010-2015” with the power of all
founding members, HUD Holdings will strive to fulfill and hand over approximate
8-10 mil.m2 floors, including social houses; participate in the social security
program; take part in adjusting and orienting the real estate market in Ha Noi
and all over the country.

Stated in the Ceremony, Mr. Nguyen Hong
Quan – Minister of MOC was for and on behalf of MOC’s Leaders to congratulate
the HUD Holdings’s appearance. As for him, this model is a new one based on the
combination of independent legal entities (state corp.) that is different from
the former state economic group. Therefore, the Leaders of HUD Holdings quickly
have to stabilize the organization of which HUD Holdings can promote their best
ability, production capacity; renovate and arrange their subsidiaries
professionally and modernizedly; construct business arrangement method and
organization and activity regulations and related rules for Government and
Authorization’s approval. The Minister also displayed his trust in HUD
Holings’s solidarity, efforts that help them to overcome all initial
difficulties and challenges so as to fulfill delivered tasks.

Also in the Ceremony, HUD Holdings
supported 5 bil. VND to the Poor Fund of Vietnamese Fatherland Front Committee.


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