HUD Holdings, comprised of the Housing and Urban Development Corp, the Hanoi Construction Corporation (Hancorp), the Vietnam Building Glass and Ceramics Corp (Viglacera), the Bach Dang Construction Corp, and the Vietnam Water Supply Sewerage and Environment Construction Investment Corp (Viwaseen), made its debut in Hanoi on March 24.

“The establishment of HUD Holdings is the affirmation of the Party and State’s sound policy on restructuring, developing and enhancing the effectiveness of the operations of State enterprises,” President Triet said.

HUD Holdings also indicates the robust growth of Vietnamese construction enterprises, Mr Triet emphasised, referring to the fact that enterprises could work together to meet requirements for fast and sustainable development and assist the country in narrowing its development gap with other developed countries in the region and the world.

According to Nguyen Hiep, Chairman of the HUD Holdings Executive Council, HUD Holding plays the core role in deploying the country’s orientations on housing development to 2020 and directing the national strategy for urban development in the coming years until 2025.