Programme eBook IVIQSC 2022 V7 - Flipbook - Page 14
Abstract Invited Speaker 1
MR. MARK OLIVE
Chief Executive Officer (CEO) , MOAC Co. Ltd.
Development and Challenges of Quantity
Surveyingand Related Professions in Vietnam
Overview of the Vietnam Construction Market
The construction environment in Vietnam has advanced dramatically in
the past quarter of a century. Back in the 1990’s most projects were
government funded with very low budgets and Vietnam contractors were
State Owned Enterprises. As a function of the significant GDP grown
in Vietnam over the last few decades there has been a greater demand
for better fixed assets such as homes, offices, hotels, education and
retail. The private sector has generally risen to this challenge and there
are now a number of Vietnam contractors capable of building projects
well in advance of US$100m. There are still international contractors in
the market place and these are generally of Japanese and Korean origin.
Vietnam has become a significant industrial hub and this has driven the economy. The need for further
industrialization has not only required factories and industrial parks but also significant developments in all
forms of logistics and infrastructure.
Size and Nature of the Construction Industry
Vietnam GDP is circa US$ 300bn and the construction sector accounts for around 11% of GDP circa US$
33Bn. This I think makes the construction market size comparable to Thailand or Philippines.Probably
the market is split 50/50 between buildings and infrastructure. The building sector is generally driven by
the private sector whilst the infrastructure sector is driven by the State sector and largely funded by the
Multilateral Development Banks (i.e. ODA finance).There has been a greater input of private investment
into some infrastructure areas over the past ten years and particularly in the energy sector but also there has
been some level of Public Private Partnership in the highway and water sectors. Foreign Direct Investment
has been significant particularly in; industrial, commercial and renewable energy sectors.
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AQSA 2022
