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Vietnam: According to Vietnam’s Ministry of Construction, the building materials market is forecast to be robust this year, with demand fueled by an increase in investment in infrastructure development and the recovery of the real estate market.

Vietnam: Building materials market forecast to be robust in 2021
Vietnam: Building materials market forecast to be robust in 2021

Demand for building materials on the rise

Demand for construction materials has increased this year, said Pham Van Bac, director of the ministry’s Construction Materials Department.

Vietnam’s real estate market expected to recover

Repairing infrastructure damaged by floods in the central region and landslides in mountainous areas would require a large volume of construction materials. In addition, the real estate market is expected to recover, which will lead to an increase in real estate investment, which in turn will boost demand for construction materials.

With this good demand, the building materials market will be very robust this year, he said.

Priorities: production of new material on a large scale

Bac said the supply industry needs to prioritize projects that produce new material, on a large scale and with advanced technology, as well as projects that use waste from other sectors.

Rising investment this year

According to VNDirect Securities Company, the building materials industry would benefit greatly from the trend of increasing investment in development this year.

One of the notable infrastructure projects was the North-South Highway.

Source: vietnamplus.vn


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