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Vietnam Construction Handbook 2015

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Information on Vietnam cost of Construction

Text of Vietnam Construction Handbook 2015

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    Handbook Cover Photos:1. The One - HCMC2. German House - HCMC3. Viet Capital Center - HCMC4. Vivo City - HCMC5. Saigon Center Phase 2&3 - HCMC

    2

  • Copyright Statement and information ca-veat

    Eighth Edition 2015

    Langdon & Seah Vietnam Co Ltd

    All rights reserved. No part of this publication may be produced, copied, stored or transmitted in any form without prior written permission from Langdon & Seah Vietnam Co Ltd.

    The information contained herein should be regarded as indicative and for general guidance only. Langdon & Seah Vietnam Co Ltd makes no representation, expressed or implied, with regard to the accuracy of the information herein and cannot accept any responsibility or liability for any errors or omissions that may be made.

    handbook are current as at 4th Quarter 2014.

    3

  • Table of Content 4Calendars 6Introduction 7

    1. CONSTRUCTION COST DATA

    Construction Costs for Selected Asian Cities

    Utility Costs for Selected Asian Cities

    2. GENERAL CONSTRUCTION DATA

    Import Duties

    3. PROPERTY INVESTMENT

    Contractor Selection Strategies

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    TABLE OF CONTENT

    101826283644

    50525354

    5862636467727782

  • 4. VIETNAM BUSINESS ENVIRONMENT

    5. OTHER INFORMATION

    Language Accounting System

    Taxation Insurance

    IDD Codes and Time Differences Conversion Factors Some Interesting Facts

    Langdon & Seah CultureLangdon & Seah Vietnam 10 Years AnniversariesProfessional ServicesDirectory of officesAcknowledgement

    5

    9292939596100105

    108109110112121122124126127131132135139150

  • JAN FEB MAR

    APR MAYAA JUN

    JUL AUG SEP

    OCT NOV DEC

    2015S M T W T F S S M T W T F S S M T W T F S

    4 511 12 13 14 15 16 1718 19 20 21 22 23 2425 26 27 29 30 31

    S M T W T F S S M T W T F S S M T W T F S

    S M T W T F S S M T W T F S S M T W T F S5

    6 7 813 14 15 16 17 18 1920 21 22 23 24 25 2627 28

    S M T W T F S S M T W T F S S M T W T F S

    1 2 36 7 8 9 10

    28 29

    1 2 3 49 10 11 12

    30

    29

    31

    78 9 10 11 12 13 1415 16 17 18 19 20 2122 23 24 25 26 27 28

    1 7654328 9 10 11 12 13 1415 16 17 18 19 20 2122 23 24 25 26 27 28

    1 2 3 4 5 6

    5 6 7 8 9 10 1112 13 14 15 16 17 1819 20 21 22 23 24 2526 27 28 29

    1 2 3 4

    30

    1 23 4 5 6 7 8 910 11 12 13 14 15 1617 18 19 20 21 22 2324 25 26 27 28 29 30

    31 67 8 914 15 16 17 18 19 2021 22 23 24 25 26 2728 29

    1 2 3 4 510 11 12 13

    30

    5 6 7 8 9 10 1112 13 14 15 16 17 1819 20 21 22 23 24 2526 27 28 29

    1 2 3 4

    30 31

    12 3 4 5 6 7 89 10 11 12 13 14 1516 17 18 19 20 21 2223 24 25 26 27 28 29

    30 31

    30

    4 511 12 13 14 15 16 1718 19 20 21 22 23 2425 26 27

    1 2 36 7 8 9 10

    28 29 30 31 29 30

    78 9 10 11 12 13 1415 16 17 18 19 20 2122 23 24 25 26 27 28

    1 2 3 4 5 6 56 7 813 14 15 16 17 18 1920 21 22 23 24 25 2627 28

    1 2 3 49 10 11 12

    29 30

    JAN FEB MAR

    APR MAYA JUN

    JUL AUG SEP

    OCT NOV DEC

    2016S M T W T F S S M T W T F S S M T W T F S

    S M T W T F S S M T W T F S S M T W T F S

    S M T W T F S S M T W T F S S M T W T F S

    S M T W T F S S M T W T F S S M T W T F S

    6

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    CALENDARS

    INTRODUCTION

    31 1 23 4 5 6 7 8 910 11 12 13 14 15 1617 18 19 20 21 22 2324 25 26 27 28 29 30

    1 2 3 4 5 67 8 9 10 11 12 1314 15 16 17 18 19 2021 22 23 24 25 26 2728 29

    1 2 3 4 56 7 8 9 10 11 1213 14 15 16 17 18 1920 21 22 23 24 25 2627 28 29 30 31

    1 23 4 5 6 7 8 910 11 12 13 14 15 1617 18 19 20 21 22 2324 25 26 27 28 29 30

    1 2 3 4 5 6 78 9 10 11 12 13 1415 16 17 18 19 20 2122 23 24 25 26 27 2829 30 31

    1 2 3 45 6 7 8 9 10 1112 13 14 15 16 17 1819 20 21 22 23 24 2526 27 28 29 30

    31 1 23 4 5 6 7 8 910 11 12 13 14 15 1617 18 19 20 21 22 2324 25 26 27 28 29 30

    1 2 3 4 5 67 8 9 10 11 12 1314 15 16 17 18 19 2021 22 23 24 25 26 2728 29 30 31

    1 2 34 5 6 7 8 9 1011 12 13 14 15 16 1718 19 20 21 22 23 2425 26 27 28 29 30

    30 31 12 3 4 5 6 7 89 10 11 12 13 14 1516 17 18 19 20 21 2223 24 25 26 27 28 29

    1 2 3 4 56 7 8 9 10 11 1213 14 15 16 17 18 1920 21 22 23 24 25 2627 28 29 30

    1 2 34 5 6 7 8 9 1011 12 13 14 15 16 1718 19 20 21 22 23 2425 26 27 28 29 30 31

  • future annually published handbooks, focuses on the

    major cities in Asia.

    The handbook is structured to serve as a general reference guide on construction cost indicators in Asia.

    The information contained in this handbook has been compiled by Langdon & Seah Vietnam Co Ltd. Any further information and/or if advice relating to particular

    Langdon & Seah Vietnam Co Ltd

    7

    INTRODUCTION

    INTRODUCTION

  • CONSTRUCTION COST DATA1Construction Market 2015 Outlook

    Major Rates for Selected Asian Cities

    Construction Costs for Selected Asian Cities

    M&E Costs for Selected Asian Cities

    Utility Costs for Selected Asian Cities

  • Interestingly much of the global economic press has focused more on politics in its forecast for 2015 rather than economic growth. Although there will be global growth in 2015 it seems few people are expecting anything exceptional.

    As we had predicted the global economy carried mixed results in 2014. The developed world remained pretty much the driver of global demand and despite the scaling down of Quantitative Easing both in the US and UK. Europe continued to struggle and Japan continued to implement its fiscal and monetary reforms but at a slower rate than hoped.

    There were a number of issues affecting the Emerging Markets and especially Russia and Brazil struggled. China did not achieve its forecast growth rates yet its GDP growth was higher than the other BRIC nations.

    Global GDP is on the increase however and much of the 2014 growth was carried by China and the other Emerging Markets.

    Vietnams GDP growth was quite strong at over 6% and largely driven by exports and Foreign Direct Investment. The domestic economy remained fairly flat and with little access to credit.

    CONSTRUCTION MARKET 2015 OUTLOOK

    12 CONSTRUCTION COST DATA10

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    TDCONSTRUCTION COST DATA

  • Global GDP in 2015 will grow around 2.5% and the fastest growing region will be Asia but few countries in the region will improve upon their 2014 growth. China will likely be the fastest growing major Asia economy at 7% growth.

    The US and UK are likely to be the best performing developed economies and Japan will continue its own economic and structural reforms, we also expect a greater level of QE in Europe. Ultimately the developed economies will improve growth in Asian exports.

    THE GLOBAL ECONOMY 2015

    13CONSTRUCTION COST DATA 11

    Vietnam will have one of the higher GDP growth rates in the region at circa 6.5% and growth will continue to be fuelled by exports and Foreign Direct Investment (FDI). Investment particularly from Japan and South Korea may be hampered by currency volatility. The banking sectors non performing loans issues are being rectified and as consequence we do expect an improvement in money supply into the domestic economy.

    THE VIETNAM ECONOMY 2015

    The market will continue to remain flat and due to limited access to credit. We do expect a greater FDI focus into property development including; private investment into the residential market and continued Overseas Development Assistance (ODA) into the infrastructure sector.Global commodity prices may improve in 2015 but from a low base and accordingly this may affect and increase construction costs but most likely in the second half of 2015.

    THE VIETNAM CONSTRUCTION MARKET 2015

  • 80 70 60 50 40 30 20 10 0

    16 CONSTRUCTION COST DATA12

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    TDCONSTRUCTION COST DATA

    1998

    1999

    2000

    2001

    2002

    2003

    2004

    2005

    2006

    2007

    2008

    2009

    2010

    2011

    2012

    2013

    2014

    5.10

    2.57

    2.84

    3.14

    3.00

    3.19

    4.55

    6.84

    12.0

    021

    .30

    71.7

    322

    .63

    18.6

    012

    .70

    12.1

    820

    .82

    17.3

    3

    2.47

    0.98

    1.31

    1.71

    1.27

    1.14

    1.22

    1.97

    4.67

    6.04

    11.5

    010

    .00

    11.0

    010

    .05

    10.0

    010

    .55

    11.2

    0

    285

    327

    391

    555

    808

    791

    811

    970

    987

    1,54

    41,

    557

    1,15

    596

    991

    998

    01,

    175

    1,42

    7

    2014

    )1,

    800

    1,60

    0

    1,40

    0

    1,20

    0

    1,00

    0

    800

    600

    400

    200

    0

  • CONSTRUCTION COST DATA

    4,00

    0

    4,50

    0

    3,50

    0

    3,00

    0

    2,50

    0

    2,00

    0

    1,50

    0

    1,00

    0

    500

    28.0

    4

    11.81

    2,35

    3

    10.7

    5

    3.68 478

    36.5

    9

    11.84

    2,45

    4

    36.7

    1

    10.4

    54,

    063