The latest method of determining the construction price index in Vietnam

Bao Ngoc

14:31, 07/09/2021

The Ministry of Construction of Vietnam has promulgated Circular 13/2021/TT-BXD dated August 31, 2021 guiding the method of determining the technical criteria and measuring the construction volume.

According to this Circular, the construction price index for a particular construction is determined as a basis of the construction cost of that work, the price (or price index) of input factors suitable to the performance conditions and construction site.

For determining the local construction price index:

- When determining the construction price index for a type of construction, they must select works representing that type of construction.

- The number of representing the type of work is determined depending on the specific conditions of each locality, but not less than 3 works.

- Representative construction that are popularly invested in the type of works built in the locality.

- Based on the characteristics of the local construction market, the People's Committee of the province shall decide to determine the general construction price index of the whole province/city or determine the construction price index for each area within the province/city and aggregate them to get a general construction price index.

See more at Circular 13/2021/TT-BXD of Vietnam effective from October 15, 2021.

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