Construction in Vietnam – Key Trends and Opportunities to 2025 (Q2 2021)

After registering growth of 6.8% in 2020, the Vietnamese construction sector is expected to grow by 8.2% this year, supported by investments in transport and energy infrastructure. According to the General Statistics Office (GSO), the construction industry’s value-add continues to gain momentum following a slowdown in the first half of 2020, growing by an estimated 8% year on year (YoY) in the first quarter of 2021. However, a surge of new Coronavirus (COVID-19) cases in recent weeks may precipitate a further downturn if the government imposes stricter lockdown measures.

In June 2020, the national assembly of Vietnam ratified the law on public-private partnerships (PPP), consolidating existing legal frameworks and developing Vietnam’s approach to foreign investment. Being in effect since January 2021, the law makes significant progress in simplifying the existing legislative apparatus that international financiers face when investing in Vietnamese PPP projects. This clearer approach to the architecture is hoped to attract higher levels of foreign investment, supporting the construction industry’s output over the forecast period.

In April 2021, the Ministry of Transport proposed a VND1,000-1,500 trillion (US$42.3-63.5 billion) spending plan, with three different proposals towards renovating road, rail, inland waterway, sea and air transport infrastructure during the period of 2021-2030. Furthermore, earlier in March 2021, the Ministry of Industry and Trade (MoIT) released a draft power development plan outlining a VND7.6 quadrillion (US$320.6 billion) investment capital requirement for the development of the power network between 2021 and 2045. Of the total, VND3 quadrillion (US$128.3 billion) will be invested between 2021-2030, which includes VND2.3 quadrillion (US$95.4 billion) for generation and VND777.2 trillion (US$32.9 billion) for the grid, and VND4.5 quadrillion (US$192.3 billion) between 2031-2045, which includes VND3.3 quadrillion (US$140.2 billion) for generation and VND1.2 quadrillion (US$52.1 billion) for the grid. With this, the total installed capacity of electricity sources is expected to reach 137.2GW by 2030 and 276.7GW by 2045.

This 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 (2016-2020) and forecast (2021-2025) 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.

Table of Contents

Table of Contents

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

– Outlook

– Latest news and developments

– Construction Projects Momentum Index

4.2 Commercial Construction

– Outlook

– Project analytics

– Latest news and developments

4.3 Industrial Construction

– Outlook

– Project analytics

– Latest news and developments

4.4 Infrastructure Construction

– Outlook

– Project analytics

– Latest news and developments

4.5 Energy and Utilities Construction

– Outlook

– Project analytics

– Latest news and developments

4.6 Institutional Construction

– Outlook

– Project analytics

4.7 Residential Construction

– Outlook

– Project analytics

– Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

7.1 What is this Report About?

7.2 Definitions

7.3 CRI Methodology

7.4 GlobalData Construction

Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Vietnam, Key Economic Indicators

Table 3: Vietnam, Commercial Construction Output by Project Type (Real % Change), 2016-2025

Table 4: Vietnam, Top Commercial Construction Projects by Value

Table 5: Vietnam, Industrial Construction Output by Project Type (Real % Change), 2016-2025

Table 6: Vietnam, Top Industrial Construction Projects by Value

Table 7: Vietnam, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025

Table 8: Vietnam, Top Infrastructure Construction Projects by Value

Table 9: Vietnam, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025

Table 10: Vietnam, Top Energy and Utilities Construction Projects by Value

Table 11: Vietnam, Institutional Construction Output by Project Type (Real % Change), 2016-2025

Table 12: Vietnam, Top Institutional Construction Projects by Value

Table 13: Vietnam, Residential Construction Output by Project Type (Real % Change), 2016-2025

Table 14: Vietnam, Top Residential Construction Projects by Value

Table 15: Vietnam, Key Contractors

Table 16: Vietnam, Key Consultants

Table 17: Vietnam, Construction Output Value (Real, US$ Million)

Table 18: Vietnam, Construction Output Value (Nominal, VND Quadrillion)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

List of Figures

Figure 1: South and South-East Asia, Construction Output (Real % Change), 2020 and 2021

Figure 2: Vietnam, Construction Projects Pipeline by Sector (US$ Billion)

Figure 3: Vietnam, COVID-19 Confirmed Cases

Figure 4: Vietnam, Risk Summary

Figure 5: Vietnam, Risk Regional Comparison

Figure 6: Vietnam, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025

Figure 7: Vietnam, Construction Output Value, by Sector (Real, US$ Million), 2016-2025

Figure 8: Vietnam, Construction Value-Add (VND Billion, 2010 Constant Price)

Figure 9: Vietnam, Credit to Construction Sector (VND billion)

Figure 10: Vietnam, Construction Projects Momentum Index

Figure 11: Vietnam, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 12: Vietnam, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 13: Vietnam, Accommodation and Catering Services Value-Add (VND Billion, 2010 Constant Price)

Figure 14: Vietnam, Total Retail Sales of Consumer Goods and Services (VND Trillion)

Figure 10: Vietnam, Total International Visitors (In Thousands)

Figure 11: Vietnam, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 12: Vietnam, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 13: Vietnam, Preliminary Exports of Goods (US$ Billion)

Figure 14: Vietnam, Industrial and Manufacturing Production Index, % Change Year on Year (2015=100)

Figure 15: Vietnam, Manufacturing Value-Add (VND Billion, 2010 Constant Price)

Figure 16: Vietnam, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 17: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 18: Vietnam, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 19: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 25: Vietnam, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 26: Vietnam, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 27: Vietnam, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 28: Vietnam, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 29: Vietnam, Real Estate Business Value-Add (VND Billion, 2010 Constant Price)

Figure 30: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 31: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports