Preliminary Conference and Implementing Development Strategy of Viet Nam Housing and Urban Development Holdings

Mr Nguyen Hong Quan – Commissioner of CentralParty – Minister of Construction Ministry made speeches at the Ceremony

Mr. Nguyen Hiep – Chairman of ManagementBoard made presentation of development orientation of the  Holdings

The Ceremony was pleasing to be attended byMr Nguyen Hong Quan – Minister of Construction Ministry, Mr Tran Van Son – ViceMinister of Construction Ministry; some Representatives for MinistryDepartments, Bureaus, Institutes, Services, and Agencies which belong toCentral Departments; Some Banks, Companies, and Enterprises belong to Ministryof Construction; Leaders of parent Company – Housing and Urban DevelopmentHoldings, member Companies; Leaders of member Company consist of: Ha NoiConstruction Corporation, Viet Nam Ceramic and Glass Corporation, Viet NamWater Supply Sewerage and Environment Construction Investment Corporation andBach Dang Construction Corporation…

Mr. Nguyen Dang Nam– General Director of the Holdings gave declaration of the result for businessand production activities during early 6 months of 2010.

Chairman of Management Board of Housing andUrban Development Holdings (HUD Holdings) Mr. Nguyen Hiep – Member of CentralParty – Chairman of Management Board made presentation of “strategy orientationand housing development program in the period of 2010 – 2015 of Housing andUrban Development Holdings”; Mr Nguyen Dang Nam – General Director of the  Holdings gave declaration of the result forbusiness and production activities during early 6 months and orientation toperform the tasks of final 6 months of 2010; then all General Directors of 4Corporations made speeches for business and production activities of their ownCorporations together with better methods were proposed to improve  co-ordination of performing all the generaltasks of the  Holdings.

As reported, Housing and Urban DevelopmentHoldings (as established and its Decision signed by Prime Minister dated 12 January, 2010 and officiallyappeared on 24 March, 2010),that was strongly combined of 5 Corporations owned by Ministry of Construction.In which, Housing and Urban Development Holdings is the key. All other strengthwas carried out in different areas by member Corporations such as: (investment,construction, construction material production, construction of water supplyand drain systems, waste water treatment, waste garbage…). Especially,implementation of all the tasks such as balance participation in housing marketin Viet Namassigned by the Party and vernment is the main purpose of the Holdings. Moreover,new and modern urban area models are synchronously developed all over thecountry.

Nomination Decision for all members ofManagement Board was signed by the Prime Minister right after the Holdings wasestablished. Management Board of the Holdings (now it is called Member Councilof the Holdings) has directed the member Corporations to complete 3 importantcontents which is a legislative basis for all activities of the Holdings afternearly 3 months.

Equity’s representation was transferred frommember Corporations to parent Company –  Holdings in accordance with Construction Ministry’s Decision.

    Basically,the trial Charter for activities and organization of the parent Company – Holdingsis being completed.

    ParentCompany – Holdings and member Corporations are transferred in to One MemberCompany Limited – Bach Dang Construction Corporation owned by State.

Simultaneously, housing development programsbased on summary of those at each member Corporation which have been agreed byManagement Board for investment promotion as planned from 2010 to 2015.

During the earlier 6 months, business andtotal production value has reached 15.711 billions VND, turnover: 12.670billions VND, budget delivery: 986 billions VND, net profit: 786 billions VND,export value: 21,4  millions VND,  total investment value: 5.260 billions VND,gross floor area: 320.000 m2, which was made by Viet Nam Housing and UrbanDevelopment Holdings. In order to complete the total year plan, the tasks ofthe final 6 months will reach 21.050 billions VND for production total value,turnover: 18.327 billions VND, budget delivery: 1.165 billions VND, net profit:1.017  billions VND, export value: 22,66millions VND, total investment value: 11.111 billions VND, gross floor area: 810.000m2.

Minister Nguyen Hong Quan praised Housing andUrban development Holdings for business production stability and strong growth.Management Board was also suggested continuing to direct the Holdings withcompletion of some important tasks assigned by the Party and vernment.