The construction industry in Vietnam is set for significant growth in 2025, fueled by strong public investment and a recovering real estate market. Strong momentum from public investment The sector’s growth rate in 2024 was estimated at 7.8-8.2%, the highest since 2020, supported by large-scale national infrastructure projects, including the North-South Expressway, the two ring roads in Hanoi and HCMC, and Long Thanh International Airport, according to the General Statistics Office. The Ministry of Transport, which has now been merged into the Ministry of Construction, played a crucial role in this expansion, allocating VND75.5 trillion for infrastructure development in 2024. While this was slightly lower than in 2023, the disbursement rate reached 77.6% by the end of the year. However, this was still below the 81.9% recorded in 2023. The recent momentum in infrastructure development began in 2023 when the then Ministry of Transport launched work on 26 projects, including 18 expressways across the country. Among these, the second phase of the North-South Expressway, with a total investment of VND119 trillion (about US$5 billion at the time of approval), is expected to be disbursed between 2021 and 2025. Other major projects include the Ring Road No. 4 in Hanoi, valued […]