Vietnam Plans to Invest VND35 Tln into Housing Projects in 2009-10
Vietnam plans to funnel up to VND35 trillion (US$2.07 billion) from the US$6 billion economic-stimulus packages into housing development projects for low income earners between 2009 and 2010.
Of the fund, the government will use VND15 trillion to build houses for social beneficiaries and VND20 trillion to develop condominiums for medium and low income earners.
The Bank for Investment and Development of Vietnam (BIDV) has pledged to invest an initial of VND2 trillion for such housing projects. (Vietnam Financial Times)
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