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State construction firms see profits rise
State-owned enterprises managed by the Ministry of Construction saw positive earnings results during the first half of the year, achieving a production value of VND12.7 trillion (US$668.4 million), an increase of 25.4 per cent over the same period a year ago.
Construction projects worth VND29.9 trillion ($1.57 billion) were completed in the first half, an increase of 26 per cent over last year, the ministry said.
Meanwhile, the production of construction materials alone reached a value of VND4.5 billion ($236,800), 29 per cent more than in the same period last year. Export value during the first six months totalled $76.7 million, the ministry said.
The ministry also reported that the construction sector imported materials and equipment during the period worth $158.9 million, suggesting that the sector played a role in the size of the nation's trade deficit.
Deputy Minister of Construction Nguyen Tran Nam said the ministry was considering a number of measures to ensure the construction sector met its growth target for the year of 14-15 per cent, while reducing its reliance on imported equipment and materials.
The ministry has already ordered enterprises under its supervision to use domestically-produced construction materials whenever possible.
Other measures to improve profits included controlling costs and better managing material sources to stabilise production, Nam said. Enterprises needed to more strictly control building materials distribution systems to avoid speculation and stabilise market prices, especially for essential materials such as cement and steel.
State-owned enterprises also needed to enhance marketing efforts, the collection of market data, and the management of quality in order to improve competitiveness, Nam said.
vietnamnews
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