Construction industry faces labor shortage
Since the second quarter of this year, a serious labor shortage in the industry has led to fierce competition for human resources...
Construction debts becoming critical
According to the Vietnam Association of Construction Contractors (VACC), all construction enterprises, from small to large, have debt backlogs. Many have debts of more than VND1 trillion ($42 million) and are facing bankruptcy.
Construction association seeks help regarding outstanding debts
The Chairman of the Vietnam Association of Construction Contractors (VACC) has said that outstanding debts will put many construction enterprises, especially those of small and medium size, on the verge of bankruptcy if they cannot be recovered. The Association proposed that the Prime Minister assign the State Bank of Vietnam to introduce priorities on construction credit, especially in key projects, to support the industry.
Recommendations made to help construction and real estate businesses
The Vietnam Association of Construction Contractors (VACC) and a number of other associations have suggested urgent solutions to allay the difficulties facing construction and real estate businesses affected by Covid-19. Recommendations include extending the time to pay value added taxes; cutting corporate income taxes by 50 per cent; implementing a 0 per cent interest rate on bank loans in service of construction sites and projects that have had to cease construction due to anti-pandemic measures; and deferring payment of land use fees.