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Building corporations to submit debt resolution

Update: March, 15/2014 - 10:12

HA NOI (VNS)— The Ministry of Construction earlier this week sent a document to its building corporations, asking them to submit plans for debt resolution to the ministry before April 25.

The State holds 100 per cent of the charter capital in the building corporations. The frozen property market in the past few years has made several State-owned (SOEs) Construction Corporations suffer big debts due to high inventory. The Government therefore issued the Decree 206/2013/NÐ-CP, dated December 9, 2013, on debt management at SOEs.

The ministry also asked the corporations to implement the decree within 90 days.— VNS

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