The need for infrastructure development of an emerging economy has driven up the demand in the construction market over the last two decades, especially in the recent years. Extension of current housing spaces to accommodate rising number of people moving to big cities, along with the establishment of industrial buildings also spurs up the market activities. As a result, despite the slowdown of economic growth and the difficulties in real estate market, the construction sector still attains considerable growth.
According to the General Statistics Office, the production value of construction at current prices in the first quarter of 2016 reached 201.5 trillion dongs, of which the state sector gained 16.9 trillion dongs, accounted for 8.4%; the non-state sector achieved 171.5 trillion dongs, accounted for 85.1%; and the FDI sector obtained 13.1 trillion dongs, accounted for 6.5%.
The production value of construction in the first quarter at 2010 comparative prices obtained 164 trillion dongs, up 10.1% over the same period in 2015, of which the state sector gained 13.9 trillion dongs, up 11%; the non-state sector achieved 139.3 trillion dongs, up 11.4%; and the FDI sector obtained 10.8 trillion dongs, down 6%.