Construction Market in Vietnam 2015-2019
About Construction Market in Vietnam
Vietnam has transformed itself from one of the poorest countries in the world to a lower middle-income country in less than three decades. The country has already met 5 of its 10 Millennium Development Goals. To attain two more goals by 2015, Vietnam is focusing on strengthening its infrastructure. In 2013, when the country's economy grew by 5 percent, its construction spending grew by 6.68 percent. With improved credit facilities to middle and low-income population, the Residential Construction segment is expected to drive the Construction market in Vietnam during the coming years.
TechNavio's analysts forecast the Construction market in Vietnam to grow at a CAGR of 6.73 percent over the period 2014-2019.
Covered in this Report
This report provides an outlook for the Construction market in Vietnam for the period 2014-2019. A detailed sector-wise segmentation of the Construction market in Vietnam is included in this report. The report forecasts the investments in the Residential and Non-residential Construction sectors in Vietnam during the forecast period. The report presents the vendor landscape and a corresponding detailed analysis of the key vendors and a brief description about other prominent vendors operating in the market.
TechNavio Announces the Publication of its Research Report – Construction Market Outlook in Vietnam 2015-2019
TechNavio recognizes the following companies as the key players in the Construction Market Outlook in Vietnam: PetroVietnam Construction, Song Da Corp. and Vingroup Joint Stock Co.
Other Prominent Vendors in the market are: Cavico Vietnam and Electricity of Vietnam Group
Commenting on the report, an analyst from TechNavio’s team said: “Growth of affordable housing is one of the major trends in the Construction Market Outlook in Vietnam, which is expected to affect the overall market growth in the coming years. With sustained growth of the country’s economy over the years, the purchasing power of the population has increased, which has created demand for affordable housing in the country.”
According to the report, one of the most prominent drivers of this market is the number of government initiatives being taken in the country. Government of Vietnam has been continually implementing policies and initiatives in order to boost the growth of the construction market in the country.
Further, the report highlights one of the major challenges that the market faces/ confronts/in this market is that the Vietnamese government is heavily burdened with debts in its state-owned enterprises and the need to repay it is limiting government’s ability to finance infrastructure projects. The total public expenditure of the country is expected to grow faster than tax revenues, which could further limit government spending on infrastructure in the short to medium term.
PetroVietnam Construction, Song Da , Vingroup Joint Stock , Cavico Vietnam , Electricity of Vietnam Group (EVN)