Government Policies Transforming Vietnam Construction Industry: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The Vietnamese construction industry, which has recorded good growth during the period 2012–2016, is expected to continue its growth run in the next five years. This possibility is indicated in the overview of the Vietnamese construction industry by Ken Research in its report – “Construction in Vietnam, Key trends and opportunities to 2021”. The report presents detailed market analysis, information and insights into the Vietnamese construction industry. It contains valuable data about this industry’s growth prospects by market, project type and construction activity. The report also presents a critical insight into the impact of the industry trends and issues, and the risks and opportunities for those interested in doing business in this industry. Going by the 9.1% growth recorded by it in 2016, the Vietnamese construction industry presents bright growth prospects. This growth figure is in real terms, measured at constant 2010 US dollar exchange rates. The four years preceding 2016 also recorded continuously improving annual growth rates – 6.4% (2012), 5.9 (2013), 7.6% (2014) and 10.8% (2015). The numbers look to improve further with the government facilitating the growth process. Government role in growth The main push to growth of the Vietnamese construction industry came from the country’s economic recovery, coupled with government’s investment in infrastructure and residential construction, and the increased issuance of building permits. In addition, the government invested in the development of industrial facilities under the Socio-Economic Development Plan (SEDP) for 2011-2015. The government is looking forward to invest more in future to enhance the growth prospects. It will invest in public infrastructure and educational healthcare buildings under the 2016-2020 development Plan. Due to investments in transport infrastructure, energy and utilities and affordable housing projects, the country’s construction industry is expected to expand in real terms over the forecast period (2017-2021). The government’s new master plan for seaport system development up to 2020 and the 2020 Broadband Plan, launched in January 2016, would give impetus to economic development and growth. By these plans, the government expects to create investment opportunities and ensure social and economic inclusion. The industry’s output value is anticipated to post a forecast-period (2017-2021) CAGR of 7.78%, compared to the 8.33% CAGR recorded during the review period (2012-2016). Improving the standard of living The government’s initiative to invest in the construction sector would lead to many positive outcomes, like improvement in the standard of living, especially for those living in rural areas. With focus on urbanization, the government is not neglecting the growth and development of rural areas. The launch of new rural building programme for 2016-2020, which aims to build schools, hospitals, roads, water-treatment facilities and other related infrastructure in rural areas, shows the farsightedness of the government to check the overpopulation of urban areas. A better transportation is also a priority of the Vietnamese government. Under the Vietnam’s Railway Development Strategy 2020, the government aims to increase the share of passenger and freight transport through railways from 0.5% of the passenger transport market and 1.0% of the total freight transport in 2015 to 13.0% and 14.0%, respectively, by 2020. The Ministry of Transport (MOT) proposed a plan to develop the North/South 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 government is strategizing to build 1.0 million affordable houses by 2020 to increase Vietnam’s housing area per capita from 16.7m2 per person in 2015 to 25.0m2 per person by 2020. To achieve this goal, it has launched various social housing programmes such as the Housing for Poor Rural Families Programme, low-rent housing for industrial zone employees, and low-income urban social housing-local government. Major Players in Vietnamese Construction Industry Leading players in the Vietnamese Construction Industry are: Petrovietnam Construction Joint Stock Corporation, Vietnam Construction and Import-Export Joint Stock Corporation, Cotec Construction Joint Stock Company, Hongha Vietnam Joint Stock Company, HoaBinh Construction and Real Estate Corporation Conclusion The current policies of the Vietnamese government are transforming Vietnam economy into a manufacturing economy. In fact, the government aims to develop a fully industrialized sector by 2020. There would be likely emergence of new start-ups and upgrades in industries through various government supported programmes and initiatives such as the Mekong Business Initiative (MBI), the Finland-Vietnam Innovation Partnership Programme (IPP) and the National Technology Innovation Fund (NATIF). Key Topics Covered in the Report: Vietnam Construction Industry Research Report Vietnam Construction Industry Trends Vietnam Construction Market Forecast Global Construction Industry Research Vietnam Commercial Construction Industry Vietnam Residential Construction Market New Construction Projects Vietnam Vietnam Construction Equipment Market Vietnam Construction Industry Competition For more coverage click on the link below: https://www.kenresearch.com/manufacturing-and-construction/infrastructure/construction-vietnam-key-trends-opportunities/82332-97.html Related link: https://www.kenresearch.com/manufacturing-and-construction/infrastructure/worldwide-construction-industry-research-report/115-97.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Global construction industry research, New Construction Projects Vietnam, Vietnam Commercial construction industry, Vietnam construction equipment market, Vietnam Construction Industry Competition, Vietnam Construction Industry Research Report, Vietnam Construction Industry trends, Vietnam Construction Market Forecast, Vietnam Construction Market Size, Vietnam residential construction market