Gov’t Discusses Crumbling Apartments, G-bonds

Prime Minister Nguyen Tan Dung chaired a regular cabinet meeting on Thursday where the main topics were the restoration of aging apartment blocks and the international issuance of government bonds.

Nguyen Kim apartment block in District 10, HCMC is degraded

After hearing reports on the sorry state of several apartment blocks in Ha Noi and Ho Chi Minh City, the ministers agreed on policies to restore old buildings and construct new ones.

The government will issue a resolution on this matter and invite private investors to get involved to ease the pressure on the public purse.

The ministers also approved a plan to issue US$1 billion in government bonds on the international market starting in September.

The billion dollars will be lent out to finance construction of Dung Quat Oil Refinery (US$700 million), buy ships for Vietnam National Shipping Lines (US$240 million) and build a hydroelectric dam in Laos, an undertaking of the Song Da Construction Corporation (US$60 million).

The attending ministers were optimistic about the second international issuance of government bonds owing to the perceived high level of confidence that foreign investors have in the Vietnamese economy.

The topic of discussion today is corruption and what to do about it.

Reported by Q.H – Translated by Thuy Hang

Other news