In Ho Chi Minh City, construction material manufacturers and retailers are suffering from low sale as a result of a credit-starved real estate market. Bui Hoang Trieu, Director of Minh Khoa Construction Company, said the troubling economy and the government’s policy that restricts credit to the real estate sector was affecting the building material industry. [...]
Deputy Prime Minister Hoang Trung Hai yesterday urged architect associations around Asia to foster co-operation around the challenges facing regional urban development in Asian nations. He made the suggestion at the Architects Regional Council Asia’s 16th forum, which opened in the central city of Da Nang yesterday, with the attendance of about 700 architects from [...]
Storm and flood-proof buildings have been a blessing to residents in central coastal provinces, the director of the Central Viet Nam Calamities Relief Fund, Nguyen Dang Lam, told a seminar here yesterday. “Flood-proof buildings, including public houses, kindergartens, primary schools and healthcare centres, have helped locals prevent or reduce losses,” he said. Since its establishment [...]
The Ministry of Construction issued Circular 09/20111/TT-BXD on June 28, establishing templates for construction contracts using 30 per cent or more of State capital, including funds from the State budget, official development assistance (ODA), State development credit, credit capital guaranteed by the State, and investments by State-owned enterprises. The construction contract templates attached to Circular [...]
Local construction corporations are concerned about whether they will be able to overcome the current difficulties in the second half of the year Many have reported revenue losses in the past six months, partly due to the global economic downturn. In a Ministry of Construction online briefing session, general director of Song Da Construction Corporation [...]
The difficulties in accessing capital has caused thousands of construction projects to become stagnant. As a result, construction materials remain unsalable; project developers incur losses, while workers become jobless. A vicious circle now can be seen on the market: despite the low demand, construction materials still keep rising in prices due to the increasing input [...]
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