Press release
The Vietnamese Construction Industry's Growth Prospects By Market, Key Trends and Opportunities to 2021
In real terms, the Vietnamese construction industry registered a growth rate of 9.1% in 2016, measured at constant 2010 US dollar exchange rates. This was preceded by annual growth rates of 10.8%, 7.6%, 5.9% and 6.4% in 2015, 2014, 2013 and 2012 respectively.
This growth was supported by economic recovery, coupled with government investment in infrastructure and residential construction, and the increased issuance of building permits. In addition, the Socio-Economic Development Plan (SEDP) for 20112015, under which the government invested in the development of industrial facilities, supported review-period (20122016) growth.
The countrys construction industry is expected to expand in real terms over the forecast period (20172021), due to investments in transport infrastructure, energy and utilities and affordable housing projects. Additionally, government investment in public infrastructure and educational healthcare buildings as part of the 20162020 Development Plan will support this growth.
The government is planning to increase the countrys seaport capacity under the new master plan for seaport system development to 2020. Additionally, the government launched the 2020 Broadband Plan in January 2016, to support economic development and growth. Through this, the government aims to create investment opportunities, and ensure social and economic inclusion.
In real terms, the industrys output value is anticipated to post a forecast-period compound annual growth rate (CAGR) of 7.78%, compared to the CAGR of 8.33% recorded during the review period.
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Summary
Timetrics Construction in Vietnam, Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Vietnamese construction industry, including:
The Vietnamese construction industry's growth prospects by market, project type and construction activity
Analysis of equipment, material and service costs for each project type in Vietnam
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Vietnamese construction industry
Profiles of the leading operators in the Vietnamese construction industry
Data highlights of the largest construction projects in Vietnam
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Scope
This report provides a comprehensive analysis of the construction industry in Vietnam. It provides:
Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Vietnam using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Vietnam
Reasons To Buy
Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.
Assess market growth potential at a micro-level with over 600 time-series data forecasts.
Understand the latest industry and market trends.
Formulate and validate strategy using Timetric's critical and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.
Key Highlights
The construction industry is expected to benefit from the governments plans to improve living conditions in rural areas. In August 2016, the government launched a new rural building program for 20162020, with an aim to build schools, hospitals, roads, water-treatment facilities and other related infrastructure in rural areas by 2020.
Under the Vietnams Railway Development Strategy 2020, the government aims to increase the share of passenger and freight transport through railways from 0.5% of the total passenger transport market share and 1.0% of the total freight transport in 2015 to 13.0% in terms of passenger transport and 14.0% in terms of freight transport by 2020. Accordingly, the Ministry of Transport (MOT) proposed a plan to develop the NorthSouth railway infrastructure, including the construction of a dual-track broad-gauge line connecting Hanoi and Ho Chi Minh City, two express railway sections, and upgrades to the existing railway.
The governments focus on developing sea ports with an aim to increase trade volume in the country is expected to drive growth in the infrastructure construction market over the forecast period. In 2015, the government announced Vietnams new Master Plan for Seaport System Development 2020, to develop the country's port infrastructure.
The government aims to increase Vietnams housing area per capita from 16.7m2 per person in 2015 to 25.0m2 per person by 2020. Consequently, the government is planning to build 1.0 million affordable houses by 2020. Accordingly, it launched various social housing programs such as the Housing for Poor Rural Families Program, low-rent housing for industrial zone employees. and low-income urban social housing-local government.
The government is focusing on the manufacturing sector with an aim to attain middle-income status and become a fully industrialized country by 2020. Accordingly, under the Socio-Economic Development Plan (SEDP) 20162020, the government is planning to support new startups and upgrade industries through various programs and initiatives such as the Mekong Business Initiative (MBI), the Finland-Vietnam Innovation Partnership Program (IPP) and the National Technology Innovation Fund (NATIF).
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