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 12.7 trillion VND (668.4 million USD), an increase of 25.4 percent over the same period a year ago.
Construction projects worth 29.9 trillion VND (1.57 billion USD) were completed in the first half, an increase of 26 percent over last year, the ministry said.
Meanwhile, the production of construction materials alone reached a value of 4.5 billion VND (236,800 USD), 29 percent more than in the same period last year. Export value during the first six months totalled 76.7 million USD, the ministry said.
The ministry also reported that the construction sector imported materials and equipment during the period worth 158.9 million USD, 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 is considering a number of measures to ensure the construction sector meet its growth target for the year of 14-15 percent, 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 need 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 need to enhance marketing efforts, the collection of market data, and the management of quality in order to improve competitiveness, Nam said.
(CPV/VNA)
