PM approves establishment of 2 state holding corporations

Prime Minister Nguyen Tan Dung has approved the establishment of two state-owned holding corporations in construction -- Vietnam Industrial Construction Group and Vietnam Housing and Urban Development Group.

An office of Song Da Corporation

They will include different companies with a majority State ownership.

Their main businesses will include developing housing and other real estate projects and urban areas.

Operational Song Da Corporation will be a key member of the Vietnam Industrial Construction Group, existing while Housing and Urban Development Corporation (HUD) will be among the major subsidiaries of the Vietnam Housing and Urban Development Group.

By Hoai Tram, translated by Y Nhi

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