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Construction sector grows 8.8% in first half

by VNA/VOV23 July 2016 Last updated at 09:32 AM

VTV.vn - The construction sector grew 8.8% 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 have targeted revenues worth more than VND76.1 trillion (US$3.45 billion) despite the stalled growth of the gross domestic product which hit 5.52% in the first six months of the year.

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

The average floor area per person reached 22.3 square metres, a rise of 0.3 square metres as of late 2015.

Currently, 72 out of 144 projects have their economic and technical elements accomplished with values of nearly VND500 billion.

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.

 

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