2020: System of databases of construction costs in Vietnam must ensure accuracy

According to Circular No. 12/2019/TT-BXD of the Ministry of Construction of Vietnam, system of databases of construction input norms, costs and output price indices must ensure accuracy, adequacy, synchronized connectivity, conformance to laws and requirements of different markets; must serve state management purposes on a timely basis and meet socio-economic growth demands. This is one of the important principles of development and administration of database systems for construction input norms, costs and output price indices. Other principles are as follows:

- Collected and supplementary data and information must ensure that they do not overlap or duplicate others. There must be close cooperation in collection of data and information. All available data and information must be exploited as much as possible. All funds and resources must be implemented in an effective, feasible and economical manner. Data and information already checked, treated and updated according to regulations in all systems of database of construction input norms, costs and output price indices must have the same legal value as those contained in paper documents.

- These databases can help to improve construction productivity, competency and effectiveness in state economic regulation of investment in construction and development of urban areas, and can contribute to preventing loss and waste arising from investment and construction activities.

- Entities and persons shall be legally liable for data and information that they have provided or updated on each database system.

View full text at Circular No. 12/2019/TT-BXD of the Ministry of Construction of Vietnam, effective from February 15, 2020.

Thu Ba

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