Minute SigningCeremony of Transferring rights and obligations of the State Capital’s OwnerRepresentatives

The memberparticipated in the Conference: Mr. Nguyen Hong Quan – Party Member, Ministerof MOC; Ms. N Thi Doan Thanh – Vice Party Secretary acts as Chairman of HaNoiCity People’s Council; Mr. Vu Tien Loc – Chairman of Chamber of VietnamCommercial & Industry; Mr. Tran Van Hieu – Vice Minister of FinancialMinistry and Representatives of Ministries, Sectors, Banks from the Central.

Mr. Nguyen Hiep –Chairman of Management Board of the Corp. displayed the report of the 10 yearssummary of innovation and development as the Corporation model of HUD (now isParent Company – Housing and Urban Development Corp. – HUD Holdings). On the 2nd June 2000, HUD was establishedon the Decision No.08/2000/QĐ-BXD of Minister of MOC. After 10 years, thanks tothe solidarity, creation, enterprising sprits and especially to promote widedeployment of  synchronization modern newurban model to the local authorities in the country while completingequitization of subsidiaries, to operate as the parent company – subsidiarycompany model in 2006, the Corporation has enhanced the capacity of thesubsidiaries through the creation of conditions for companies to coordinate theimplementation of second class projects at the project level of the parentcompany should HUD had the largest growth boom as production value increased 77times, equity increased 30 times…

The process ofrestructuring and business innovation in 10 years as well as the Corporationcontinuously has perfected the management mechanism, professional andexperienced workforce in organizing the implementation of  investment activities and real estatebusiness. HUD’s position and brand name is growing up. With the capability,experience, management structure and present brand, HUD meets all requirementsthat on the 12th January 2010 the vernment signed the Decision No.54/QD-TTgfor approving a pilot project of establishing Viet Nam Housing and UrbanDevelopment Group (HUD Group) in which Housing and Urban DevelopmentCorporation (HUD) is the key member the Decision No.55/QD-TTg for establishingthe Parent Company –  Housing and UrbanDevelopment Group (HUD Holdings) being based on reorganizing the organizationmechanism  of HUD. The main purpose is toform a State Economic Group that acts in the housing development, real estatebusiness and performing the State’s direction and policy.

Making speechesin the Conference, Minister Nguyen Hong Quan and Mr. Vu Tien Loc had praisedand highly appreciated HUD Holdings’ achievements in the passed 10 years in thenew model. The time they proposed to the Group continues to focus on improvingoperational regulations, and collection and promote the power of the unitmembers to successfully implement the tasks of the Party and State Informationentrusted to.

Minister NguyenHong Quan and some delegates witnessed the Minute signing Ceremony ofTransferring rights and obligations of the State Capital’s OwnerRepresentatives at the State Corporations by and between Mr. Tran Thanh Ha – Headof planning and finance department  – MOCand the leaders of the Group and the Corporation to participate in the  HUD Holdings.