The Ministry of Construction's announcement on the national construction price index for 2023 in Vietnam

11:35, 14/03/2024

What are the details regarding the Ministry of Construction's announcement on the national construction price index for 2023 in Vietnam? - Nhat Ha (Thanh Hoa)

The Ministry of Construction's announcement on the national construction price index for 2023 in Vietnam (Internet image)

On March 13, 2024, the Ministry of Construction issued Decision 167/QD-BXD announcing the national construction price index in 2023.

The Ministry of Construction's announcement on the national construction price index for 2023 in Vietnam

- National construction price index is a relative indicator that reflects the level of fluctuation in construction prices over time across the country.

- The national construction price index published in this document is used as a basis for determining investment capital rates and for reference in analyzing the average price fluctuation of the construction price index when determining reserve costs in the total investment and work related to assessing fluctuations in construction prices to serve macromanagement and administration.

The national construction price index published in this document is not used to adjust construction contract prices.

- National construction price index has taken into account fluctuations in construction costs, equipment costs, project management costs, construction investment consulting costs, and a number of other cost items related to construction investment costs.

Some cost items, such as: compensation, support, and resettlement costs; mine and explosive material clearance; loan interest during construction (for projects using loan capital); and initial working capital (for production and business projects), are not included in the calculation of the national construction price index.

- Method for determining the national construction price index according to regulations in Circular 13/2021/TT-BXD dated August 31, 2021 of the Minister of Construction on instructions on methods for determining technical and economic indicators and measuring the volume of works.

- The base time for determining the national construction price index is 2020

- Input cost factors to determine the construction price index: Prices of construction materials, unit prices of construction labor, prices of machine shifts, and construction equipment are based on price announcements from the Department of Construction in localities.

- National construction price index in 2023 is specified as follows:

Unit: %

No.	Construction price index	Compared to base year 2020	Compared to 2022
A	GENERAL CONSTRUCTION PRICE INDEX FOR THE COUNTRY	115.07	103.65
B	CONSTRUCTION PRICE INDEX BY POPULAR CONSTRUCTION TYPE (average for the whole country)
I	Civil construction works
1	Housing projects	113,12	102.72
2	Education projects	112.47	103.89
3	Medical works	108.25	103.57
4	Cultural works (theaters, cultural houses, cinemas, museums...)	114.27	103.98
5	Headquarters and office buildings	113.34	104.12
II	Industrial buildings
1	Building materials production works (brick and tile factory)	106.50	102.83
2	Energy projects
2.1	Line	121.49	104.82
2.2	Substation	104.10	102.41
3	Textile factory, garment factory	110.50	101.75
III	Technical infrastructure projects
1	Water supply works
1.1	Water factory	110.26	102.29
1.2	Water supply pipeline	105.52	100.29
2	Drainage works
2.1	Sewer line	118.48	105.91
2.2	Wastewater treatment works	111.88	103.37
3	Public lighting works	126.07	104.02
4	Urban technical infrastructure works	119.19	104.98
5	Industrial park technical infrastructure works	120.15	104.35
6	Solid waste treatment works (by burning technology)	107.96
IV	Transport works
1	Construction road
1.1	Cement concrete road	117.56	106.63
1.2	Asphalt road	123.10	103.91
2	Road bridge works (cement concrete bridge)	118.85	101.47
V	Agricultural and rural development projects
1	Irrigation works
1.1	Channel
a	Cement concrete channel	117.24	105.70
b	Brick-built canal	114.56	108.34
1.2	Irrigation pumping station	112.97	104.02
2	Dyke works
	River dike	120.28	106.12

More details can be found in Decision 167/QD-BXD taking effect on March 13, 2024.

Ho Quoc Tuan

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