Guidelines on methods of calculation and determination of construction price indices from 2020 in Vietnam

08:20, 14/01/2020

Recently, the Minister of Construction of Vietnam has issued Circular No. 14/2019/TT-BXD as a manual for determination and administration of construction price indices.

According to Circular No. 14/2019/TT-BXD of the Ministry of Construction of Vietnam, methods of calculation and determination of construction price indices are guided as follows:

- Construction price index shall be defined as the weighted geometric mean of rates of price (construction price index) fluctuation in typical input factors and corresponding weight values. Calculation of construction price indices shall be subject to instructions given in Appendix No. 1 hereto;

- Regional construction price index shall be defined as the weighted geometric mean of construction price indices for use at provinces or centrally-affiliated cities within a region and corresponding weight values;

- National construction price index shall be defined as the weighted geometric mean of construction price indices for use in specific regions and corresponding weight values;

- Price index for a particular construction work shall be determined on the basis of cost structure of that construction work and input costs (or price indices) provided that it such index is relevant to work conditions and construction sites;

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View details at Circular No. 14/2019/TT-BXD of the Ministry of Construction of Vietnam, effective from February 15, 2020.

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