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Construction firms struggle for survival

Update: November, 02/2013 - 09:06
HA NOI (VNS)  — More than 2,600 building and property trading companies stopped their operations or dissolved in the first 10 months of the year, according to the Ministry of Construction. The total included over 2,100 building enterprises and 527 real estate firms.

The ministry said the stagnant property market had resulted in low liquidity at banks, which in turn affected building material producers, assembly and interior companies.

Total building material inventory last year was VND3.8 trillion ($180 million), including 415,000 tonnes of cement, 4.1 million bricks, 14.3 million tones of building glass and 20,000 tonnes of steel..— VNS

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