Market Research Report
Construction in Vietnam - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||242093|
|Published||Content info||43 Pages
Delivery time: 1-2 business days
|Construction in Vietnam - Key Trends and Opportunities to 2024|
|Published: November 6, 2020||Content info: 43 Pages||
The Vietnam construction industry was growing at a relative fast pace prior to the Coronavirus (COVID-19) crisis, with the industry expanding by 9.1% in real terms in 2019. Growth had been driven by investments on the national strategic projects, mainly in the transport infrastructure sector. However, the imposition of Large-Scale Social Restrictions (PSBB) by the government to contain the spread of COVID-19, along with global trade and travel disruptions which affected the availability of manpower and raw materials, weighed on growth in Vietnam's construction industry in the first half of 2020. Consequently, GlobalData expects the industry's growth to decelerate to 5.5% in real terms this year, which is a relatively strong performance compared to other markets in the region.
According to the General Statistics Office (GSO), the construction industry's value-add grew by 5.7% year on year (YoY) in real terms in the third quarter of 2020 (the latest data available at the time of writing), improving from 4.7% and 4.4% in the previous two quarters, respectively. In the coming quarters, the construction industry's output growth will continue to pick up, supported by investments in transport and energy infrastructure.
Efforts to attract foreign investment through the public private partnerships (PPP) model will support the construction industry over the forecast period. In June 2020, the national assembly adopted the law on PPP investment, which is aimed at regulating investment activities and attracting private investment under the PPP model. The government's efforts to balance supply and demand for affordable housing will also generate momentum in the residential sector. Ongoing urbanization will continue to generate demand for residential and infrastructure development.
This report provides detailed market analysis, information and insights into Vietnam's construction industry, including -
This report provides a comprehensive analysis of the construction industry in Vietnam. It provides -