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Construction in Vietnam - Key Trends and Opportunities to 2024

Construction in Vietnam - Key Trends and Opportunities to 2024

Summary

Vietnam's construction industry registered an annual growth of 9.1% in real terms in 2019, following an average annual growth of 9.7% during 2015-2018. This was due to positive developments in economic conditions and investments in transport, residential and energy infrastructure construction projects. Additionally, government efforts to attract foreign investment supported the industry's growth.

The industry's output value is expected to continue to expand over the forecast period (2020-2024), with investments in transport infrastructure, energy and manufacturing. In January 2020, for example, the World Bank signed an agreement with the government to provide a loan worth VND229.1 billion (US$10.3 million) to build a new rapid bus corridor in Ho Chi Minh city, and in September 2019, the government announced plans to spend VND30 trillion (US$1.3 billion) to build a new expressway in Mekong by 2023. The focus on the development of local energy resources is also expected to drive industry growth. The government plans to install 55.3GW of a new coal-fired power plant in the country during the period of 2020-2030. The government also plans to add 7.2GW of a new solar power plant during the same period.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 7.69% over the forecast period. However, there are potential risks in the early part of the forecast period, reflecting the uncertain outlook for the economy and investor confidence owing to the outbreak of the ongoing Coronavirus, which could have an adverse impact on construction spending - particularly in the commercial sector.

GlobalData's Construction in Vietnam - Key Trends and Opportunities to 2024 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
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Vietnamese construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Vietnam. It provides -
- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Vietnam, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants

Reasons to buy

- Identify and evaluate market opportunities using GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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Construction in Vietnam - Key Trends and Opportunities to 2024
Published By :GlobalData
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