Vietnam’s guidelines on management and announcement of prices of building materials from February 15, 2024

Vietnam’s guidelines on management and announcement of prices of building materials from February 15, 2024 

Circular No. 14/2023/TT-BXD has amended Article 8 of Circular No. 11/2021/TT-BXD on guidelines on the management and announcement of construction prices prescribed in Clause 2 Article 26 of Decree No. 10/2021/ND-CP.

Specifically, the content of the management and announcement of prices of building materials prescribed in Clause 3 Article 8 of Circular No. 11/2021/TT-BXD, amended by Circular No. 14/2023/TT-BXD, is as follows: 

- Prices of building materials to be announced must be in line with market prices, quality standards, origins, capacity and scope of supply of building materials at the announcement date. The list of building materials to be announced is compiled on the basis of the list of building materials available in the set of norms issued by competent regulatory authorities and the list of building materials available on the market.

- Provincial Departments of Construction shall preside over and cooperate with relevant authorities in conducting surveys, collecting information, and determining prices of building materials applied at localities within their remit; announce these prices by using the Form No. 01 in Appendix VIII of Circular No. 11/2021/TT-BXD (amended by Circular No. 14/2023/TT-BXD); send announcement results, accompanied by electronic files (using consistent forms) to the Ministry of Construction of Vietnam for monitoring, managing, and inputting into the relevant database according to regulations laid down in Clause 3 Article 29 of the Decree No. 10/2021/ND-CP.

- Where necessary, provincial Departments of Construction can announce prices of building materials subject to changes on a monthly basis to meet requirements of management of construction investment costs. The deadline for quarterly and monthly announcement of prices of building materials must be earlier than the 15th day of the first month of the following quarter, and the 10th day of the following month, respectively.

See more details in Circular No. 14/2023/TT-BXD, effective as of February 15, 2024. 

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