Construction Minister Nguyen Hong Quan has said the sector is working hard toachieve a double-digit growth rate for the second half of the year.
Quantold a sector meeting on July 10 that the target would be tough for constructionto meet, despite its growth rate of 5.4 percent in the first half surpassing theaverage of 4.8 percent for the entire industrial and construction sector.
The sector has deployed 414 out of 563 approved projects with a combineddisbursement of almost 13.1 trillion VND over the past six months.
Heattributed the achievement to the Government’s stimulus package which offersbusinesses a subsidised interest rate of 4 percent on bank loans, instead of thenormal rate of more than 10 percent.
Another factor is that a number ofhousing and urban development projects have made a comeback after a period ofstagnation. Several real estate projects, especially social-welfare housingprojects, have received licences and embarked on construction, providing moreimpetus for the sector.
The Housing and Urban Development Company (HUD)is leading the sector in infrastructure-urban-housing investment with 45projects under construction and 18 others in the making. It has disbursed almost2.4 trillion VND.
The ministry called on companies to intensifyinvestment in major projects in cement, electricity, urban infrastructure andhousing, and to speed up the tempo of construction.
Businesses are alsourged to diversify forms of investment in and ownership of cement, hydro-powerand urban development projects./.
Quantold a sector meeting on July 10 that the target would be tough for constructionto meet, despite its growth rate of 5.4 percent in the first half surpassing theaverage of 4.8 percent for the entire industrial and construction sector.
The sector has deployed 414 out of 563 approved projects with a combineddisbursement of almost 13.1 trillion VND over the past six months.
Heattributed the achievement to the Government’s stimulus package which offersbusinesses a subsidised interest rate of 4 percent on bank loans, instead of thenormal rate of more than 10 percent.
Another factor is that a number ofhousing and urban development projects have made a comeback after a period ofstagnation. Several real estate projects, especially social-welfare housingprojects, have received licences and embarked on construction, providing moreimpetus for the sector.
The Housing and Urban Development Company (HUD)is leading the sector in infrastructure-urban-housing investment with 45projects under construction and 18 others in the making. It has disbursed almost2.4 trillion VND.
The ministry called on companies to intensifyinvestment in major projects in cement, electricity, urban infrastructure andhousing, and to speed up the tempo of construction.
Businesses are alsourged to diversify forms of investment in and ownership of cement, hydro-powerand urban development projects./.
