VietNamNet Bridge – Prime Minister Nguyen Tan Dung has decided
to stop piloting two construction groups and assigned the Ministry of
Construction to re-arrange enterprises directly under its management.
The two business entities are the
Viet Nam Industry Construction Group (VNIC) and
the Housing and Urban Development Group (HUD). Both of them were set up
on January 12, 2012.
Inefficiency was the reason for
the Government to terminate the two projects, according to Mr. Pham Viet
Muon-Vice Chairman of the Office of Government and Deputy head of the National
Steering Committee for Enterprise Renovation and Development.
The Government chief tasked the
Ministry of Construction to establish Song Da Corporation by re-organizing the
Song Da Holdings and its affiliates, establish the Housing and Urban
Development Corporation by re-organizing the Housing and Urban Development
Group and its affiliates.
The Ministry of Construction will
also be responsible for managing the following corporations, namely Viet Nam
Machinery Erection Corporation (LILAMA), Infrastructure Development and
Construction Corporation (LICOGI), Construction Machinery Corporation (COMA),
Bach Dang Construction Corporation, Ha Noi Construction Corporation (HANCORP),
Viglacera Corporation, and Viet Nam Water and Environment Investment
Corporation (VIWASEEN).
Prime Minister Dung assigned the
Ministry of Construction to equitize
LILAMA, LICOGI, COMA, Bach Dang Construction Corporation, HANCORP, VIGLACERA,
and VIWASEEN in accordance with the Prime Minister’s Decisions No.
2363/TTg-DMDN dated on December 27, 2010 and No. 903/TTg-ĐMDN dated on June 7,
2011.
The Ministry is also asked to
develop equitization plans for Song Da Corporation and Housing and Urban
Development Corporation, then submit them to the Prime Minister for
consideration.
Since 2005, Viet Nam piloted
seven groups which were all founded on the basis of big State-funded
corporations. In 2009, the Prime Minister decided to establish four more
groups, including the VNIC and HUD, said the Vice Chairman of the Office of
Government.
Streamlining State economic
groups is the Government’s orientation, said Minister-Chairman of the Office of
Government Vu Duc Dam at the monthly press briefing on September five.
He added that the Government
plans to reduce the number of State economic groups from 11 to 5-7.
VietNamNet/VGP
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