Want to be in the loop?
subscribe to
our notification
Business News
CONSTRUCTION MINISTRY TO FOCUS ON SOCIAL HOUSING
Deputy Prime Minister Trinh Dinh Dung asked the Ministry of Construction to pay attention to the development of social housing projects and homes for low-income earners while enhancing urban management and creating favourable conditions for construction businesses.
Dung was speaking at a conference on Friday to review results achieved by the ministry in 2018 and raise orientations for 2019.
Dung said that the market demand for social housing projects remained high while supply was limited, stressing that the ministry needed breakthrough policies to boost social housing development.
The management on urban development, industrial and economic zones must also be enhanced to ensure the appropriateness to the urban housing development programme, Dung said.
In addition, the ministry should focus on coordinating with relevant ministries and agencies to develop solutions for treating ash released by thermopower and fertiliser plants into building materials, Dung said, adding that it was important for environmental protection.
Minister of Construction Pham Hong Ha said that the huge volume of ash released from thermopower and fertiliser production was posing threats to the environment.
Ha said that in January, three ministries, including those of industry and trade, construction and natural resources and environment would meet to develop solutions to promote the use of ash in producing building materials.
Ha also said the Ministry of Construction would develop an action plan to implement the Government’s resolutions about socio-economic development targets and improving the business environment and national competitiveness.
According to Deputy Minister of Construction Le Quang Hung, the sector had a good year in 2018.
The ministry’s report pointed out that the production value of the construction sector grew 9.2 per cent in 2018, meeting the target set for the full year and contributing significantly to socio-economic development.
Hung said the ministry in 2018 also focused on administrative reforms to create favourable conditions for construction businesses with 41.3 per cent of administrative procedures eliminated and 47.3 per cent simplified out of 215 business prerequisites.
The ministry also completed three law compilation projects in 2018, including the Law on Architecture, the Law on Urban Development and Management and project of amending the laws on construction, housing, real estate business and urban planning.
He said Viet Nam ranked 20th out of 190 economies by the score of dealing with construction permits by the World Bank’s report on the ease of doing business.
The real estate and building material markets had seen stable development, Hung said.
The ministry’s report said that housing prices did not see considerable fluctuations in 2018 compared to the previous year.
Real estate inventories totalled VND22.8 trillion (US$980.4 billion) as of December 20, a drop of 82.24 per cent against the peak recorded in the first quarter of 2013.
A total of 58 million sq.m of housing area was completed in 2018. Some 5,800 homes for low-income earners were completed with a total area of 290,000sq.m. Average housing area per person now reached 24sq.m.
The building material market met domestic demand while the focus was also placed on developing new, environmentally-friendly materials, the report said, adding that 55 out of 63 provinces and cities have already developed plans to eliminate baked bricks and use unbaked bricks. As of November, unbaked bricks were estimated at 8 billion units, accounted for 30 per cent of the total brick output.
Hung said construction management was also enhanced nationwide with planning of 58 out of 63 provinces and cities approved to ensure sustainable urban development. There were 828 urban areas throughout the country, statistics showed.
The ministry’s appraisal of construction investment also helped cut costs by 2.6 per cent, equivalent to US$1.6 billion, according to the ministry’s report.
Source: VIR
Related News
CHW30200 LUGGAGE – THE IDEAL TRAVEL COMPANION FOR MODERN JOURNEYS
• Compact & practical design – easy to carry on any trip• Optimized storage space – keep your belongings organized and efficient• Durable construction – enhanced protection for your essentials on the go
OKTOBERFEST VIETNAM 2026 RETURNS @ WINDSOR PLAZA HOTEL
Save up to 25% until 31 August 2026! For 30+ Tickets, contact Hotline for exclusive offers. From 23 - 26 September 2026, don't miss your chance to immerse yourself in the vibrant atmosphere of Oktoberfest Vietnam - one of Saigon's most anticipated celebration of German culture, cuisine and music. Inbox us to secure your ticket or contact.
THE REVERIE SAIGON’S MOONCAKE COLLECTION 2026 - THE MOONLIT BLOSSOMS
Inspired by the autumn full moon, blooming Osmanthus, and vibrant Peonies, The Reverie Saigon presents The Moonlit Blossoms collection, featuring three exquisite masterpieces that celebrate harmony, prosperity, and the joy of reunion. Discover more & Place your order: https://www.thereveriesaigondining.com/mooncake-collection-2026
GOV’T PROPOSES REDUCING INCOME TAX BY 30% FOR BUSINESS WITH REVENUE OF VND10 BLN
The Government is preparing to submit to the National Assembly a proposal to reduce income tax by 30 percent in the 2026–2027 period for business households, individuals, and enterprises with annual revenue up to VND 10 billion (US$381,621). The Government also proposes a 30 percent reduction in personal income tax for micro-enterprises with annual revenues of up to VND 10 billion in 2026 and 2027.
HÀ NỘI SEEKS NEW GENERATION OF FDI TO POWER TECH, INNOVATION-LED GROWTH
After more than three decades as one of Việt Nam's leading destinations for foreign investment, Hà Nội is entering a new phase, shifting its focus from attracting capital in volume to drawing technology-intensive investment that can help transform the capital into a regional hub for research, innovation and high-tech industries.
BANK COUPON RATE HITS RECORD HIGH OF 10% PER YEAR
Amid surging demand for capital, commercial banks have been ramping up bond issuance, with rates reaching a record high of 10 per cent per year. Sacombank has recently announced the completion of three private bond placements in July, raising a total of VNĐ3.65 trillion (US$139 million) to raise medium- and long-term capital, strengthen financial capacity, enhance risk resilience and meet regulatory capital requirements.
























