(Illustration image. Source: Vietnam+)
|
The Ministry of Construction has just issued Decision No. 1202/QD-BXD to announce the National Construction Price Index for 2024, which shows a 15.35% increase compared to 2020 and a 0.24% rise from 2023.
The National Construction Price Index is a relative indicator that reflects the fluctuation of construction material prices over time across Vietnam. The base period for determining this index is 2020.
The 2024 National Construction Price Index includes the national average price index and price indices for common types of construction projects.
Compared to 2020, the price index for residential construction projects in 2024 increased by 13.74%; educational facilities by 13.52%; healthcare facilities by 10.79%; office and administrative buildings by 14.31%; and cement concrete roads by 17.86%.
In contrast, when compared to 2023, the price indices for the above-mentioned construction types increased by 0.55%, 0.93%, 2.34%, 0.86%, and 0.26%, respectively.
According to Deputy Minister of Construction Bui Xuan Dung, this announcement of the National Construction Price Index serves as a foundation for determining investment capital quotas and for reference in analyzing the average fluctuation of the construction price index when determining contingency funds in total investment and tasks related to assessing construction price fluctuations for macro-management purposes.
The 2024 National Construction Price takes into account the variation in construction costs, equipment costs, project management costs, investment construction consulting costs, and other cost items such as compensation, resettlement support, bomb and explosive clearance, etc.
The input cost factors for determining the construction price index include construction material prices, construction labor unit prices, and construction machinery and equipment prices, based on the price announcements by the Departments of Construction in respective localities.
Hung Vo
The $140-Million Township Project in Tay Ninh by AHA Vietnam: Unveiling the Progress
AHA Vietnam, based in Hanoi, is embarking on an ambitious venture with its investment in a sprawling 32-trillion VND urban project in Tay Ninh City, Tay Ninh Province. This project, spanning nearly 50 hectares, promises to be a landmark development in the region.
“Vietnam’s Strategic Advantage: Prime Minister Vows to Develop Semiconductor Industry”
“Prime Minister Pham Minh Chinh emphasized the development of the semiconductor industry as a strategic breakthrough and a key focus area. He underscored that it is not only a possibility but also a determination, leveraging Vietnam’s unique potential, prominent opportunities, competitive advantages, and strategic direction.”
Commencing the Laos Cai-Hanoi-Haiphong Railway Project in 2025
The Ministry of Transport has outlined an ambitious investment plan for 2025, with a projected investment and disbursement of 87 trillion VND. A key highlight of this plan is the proposed construction of a new railway line connecting Lao Cai, Hanoi, and Haiphong, boasting a total investment of around 8.37 billion USD.
The Export Edge: How Domestic Enterprises are Leading Southeast Asia’s Growth
As of late, the domestic business sector has been a shining star in our country’s export landscape, thanks to its vigorous efforts and remarkable growth.
The Rising Economic and Cultural Hub Along the Coast
Minister Du Duc Duy emphasized the immense diversity and richness of Vietnam’s marine resources, which present enormous potential for the development of numerous vital economic sectors.
