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

Minister of MOC Nguyen Hong Quan hadspeeches at the Ceremony

To the Ceremony, the Ceremony werepleased to have Mr. Dong Sy Nguyen, the former member of Politburo, the formerVice Prime Minister of the vernment, Mr. Pham The Duyet, the former member ofPolitburo, 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 vernmentOffice; and Representatives from offices, ministries; Central groups, and othercities such as: Kien Giang, Hai Duong, Bac Giang, Cao Bang, Phu Tho, Ha Noi, HoChi Minh City, leaders of Vietnamese Construction Union, leaders of memberCompanies in Group; Representative of Lao, CuBa, Singapore, Korea from theembassy in Viet Nam.  The ceremony also had pleasure to receive theCongratulation Flowers from the General Secretary Nong Duc Manh, the Chairmanof National Assembly Nguyen Phu Trong, vernmental President Nguyen Tan Dungand the Congratulation Letter from the Former General Secretary Do Muoi.

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

HUD Group has been established on theobjective needs of the real estate market and the policy of the Party and Statethat a State pilot economic group of real estate field must be presented tomake competition in the international economic integration and housingdevelopment and real estate market adjustment. On the 12th January 2010, thevernmental Prime Minister signed the Decision No.54/QD-TTg for approving apilot project of establishing Viet Nam Housing and Urban Development Group (HUDGroup) in which Housing and Urban Development Corporation (HUD) is the keymember and others participants under MOC as Hanoi Construction Corporation(HANCORP), Glass and Ceramic Corporation (VIGLACERA), Bach Dang ConstructionCorporation (BDCC) and Vietnam Investment, Construction and Water Supply andDrainage Corporation (VIWASEEN). On the same day, the vernmental PrimeMinister also signed the Decision No.55/QD-TTg for establishing the ParentCompany –  Housing and Urban Development Group (HUD Holdings) being basedon reorganizing the mechanism of management, operation, advice, projectmanagement boards, subsidiaries of HUD.

Appearance Ceremony of HUD Group hasmarked an important landmark for the development of all HUD Holdings’participants. Beside the making od conditions to promote ability of eachmember, the business combination of the group will help members to carry outthe professionalization suitably; raise the sense of initiative in using theinput factors of the production & business process; approach and open themarket; improve technology application… that make chances to have potentialsources.

Mr. Nguyen Hong Quan – Minister of MOCawards 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 allfounding members, HUD Holdings will strive to fulfill and hand over approximate8-10 mil.m2 floors, including social houses; participate in the social securityprogram; take part in adjusting and orienting the real estate market in Ha Noiand all over the country.

Stated in the Ceremony, Mr. Nguyen HongQuan – Minister of MOC was for and on behalf of MOC’s Leaders to congratulatethe HUD Holdings’s appearance. As for him, this model is a new one based on thecombination of independent legal entities (state corp.) that is different fromthe former state economic group. Therefore, the Leaders of HUD Holdings quicklyhave to stabilize the organization of which HUD Holdings can promote their bestability, production capacity; renovate and arrange their subsidiariesprofessionally and modernizedly; construct business arrangement method andorganization and activity regulations and related rules for vernment andAuthorization’s approval. The Minister also displayed his trust in HUDHolings’s solidarity, efforts that help them to overcome all initialdifficulties and challenges so as to fulfill delivered tasks.

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


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