Illustrative image (Source: VNA)
Hanoi (VNA) – The construction sector grew 8.8 percent in the first half of this year, the highest growth since 2010, reported the Ministry of Construction during a conference in Hanoi on July 21 to launch tasks for the remaining months of this year.

The ministry’s enterprises booked revenues worth more than 76.1 trillion VND (3.45 billion USD) despite the stalled growth of gross domestic product which hit 5.52 percent during the period.

The rate of urban and rural construction, and urbanisation hit 100 percent and nearly 35.7 percent, respectively, of what was planned for the period.

The average floor area per person reached 22.3 sq.m, a rise of 0.3 sq.m from the late 2015.

Currently, 72 out of 144 projects have their economic and technical accomplished with values of nearly 500 billion VND.

Construction Minister Pham Hong Ha said the ministry will refine legal regulations, review the Law on Construction and issue decrees on construction, housing and real estate business.

The issuance of construction licenses will be reduced to 22-25 days from 30 days, as part of efforts to realise the government’s resolution on improving the business climate and national competitiveness as well as the resolution on business development support.-VNA