State-owned housing developer HUD has new chairman

Dau Minh Thanh, chief of the Ministry of Construction (MoC) Office, has been appointed chairman of the ministry’s Housing and Urban Development Corporation (HUD).

The appointment decision was handed over to Thanh by Minister of Construction Nguyen Thanh Nghi on Friday.

Thanh has extensive experience in leading units and businesses under the MoC. He used to be a leader of the ministry's enterprises management department.

The chairman position had been vacant since early September after Nguyen Viet Hung was appointed by Prime Minister Pham Minh Chinh as Deputy Minister of Construction.

HUD has been a pioneer and a leader in the field of housing and urban development, with its Linh Dam Urban Area in Hanoi as one of the first model urban areas in the country.

After 30 years of development, HUD has built 25 urban complexes, providing over 8 million square meters of residential space.

The corporation has 11 project management units, two branches, 14 member units with independent accounting, two affiliated companies, and two joint ventures. It employs more than 2,000 staff.

As of June 30, HUD's equity had reached over VND2,785 billion ($110 million). In the first half of this year, the company recorded a post-tax profit of about VND123 billion ($4.84 million), up 78% year-on-year.