Construction in Vietnam - Key Trends and Opportunities to 2025 (Q1 2021)

Construction in Vietnam - Key Trends and Opportunities to 2025 (Q1 2021)

Summary

Construction industry growth in Vietnam decelerated to 6.8% in real terms in 2020, a relatively strong performance when compared to similar markets in Southeast Asia. Growth was primarily driven by investments on national strategic projects, mainly in the transport infrastructure sector. However, the imposition of Large-Scale Social Restrictions (PSBB) by the government in order to contain the spread of COVID-19, along with global trade and travel disruptions which affected the availability of manpower and raw materials, weighed on growth in Vietnam’s construction industry in the first half of 2020.

According to the General Statistics Office (GSO), the construction industry’s value-add grew by 8.6% year on year (YoY) in real terms in the fourth quarter of 2020, indicating a return to relatively normal levels of growth. GlobalData expects the industry to grow by 8.2% in real terms this year, supported by investments in transport and energy infrastructure.

In June 2020, the national assembly of Vietnam ratified the law on Public-Private Partnerships, 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 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.

The government’s efforts to balance supply and demand for affordable housing will also generate momentum in the residential sector. Vietnam currently faces a shortage of affordable housing, driven by ongoing urbanization and a growing middle class. These demographic trends are likely to continue to drive demand for residential and infrastructure development in the coming years.

This report provides detailed market analysis, information, and insights into Vietnam’s construction industry, including -
- Vietnam’s construction industrys 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 Vietnam’s 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 GlobalDatas 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 GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
 

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
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
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 GlobalData Construction
 


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
 


List Of Figures

Figure 1: South and South-East Asia, Construction Output (real % change), 2021
Figure 2: Vietnam, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Vietnam, COVID-19 Confirmed Cases
Figure 4: Vietnam, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2016-2025
Figure 5: Vietnam, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: Vietnam, Construction Value-Add (VND Billion, 2010 constant price)
Figure 7: Vietnam, Construction Projects Momentum Index
Figure 8: Vietnam, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 9: Vietnam, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 10: Vietnam, Accommodation and Catering Services Value-Add (VND Billion, 2010 constant price)
Figure 11: Vietnam, Total retail sales of consumer goods and services (VND Trillion)
Figure 12: Vietnam, Total International visitors (In thousands)
Figure 13: Vietnam, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 14: Vietnam, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: Vietnam, Industrial and Manufacturing Production Index, % change year on year (2015=100)
Figure 16: Vietnam, Manufacturing Value-Add (VND Billion, 2010 constant price)
Figure 17: Vietnam, Preliminary Exports of goods (US$ billion)
Figure 18: Vietnam, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 19: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 20: Vietnam, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 21: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 22: Vietnam, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 23: Vietnam, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: Vietnam, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 25: Vietnam, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: Vietnam, Real estate business Value-Add (VND Billion, 2010 constant price)
Figure 27: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 28: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 29: South Africa, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 30: South Africa, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: South Africa, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: South Africa, Value of Residential Buildings Reported as Completed, in ZAR Million, Constant 2015 Prices, % Change YoY
Figure 33: South Africa, Value of Residential Building Plans Passed, in ZAR Million, Constant 2015 Prices, % Change YoY
Figure 34: South Africa, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 35: South Africa, Headquarters of Key Consultants (% of Total Project Pipeline)
 


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