In November, the construction sector in Vietnam registered 3 new FDI projects with US$31 million in newly registered capital, according to Vietnam’s Ministry of Planning and Investment. This represents a 57.14 percent decrease compared to October, which recorded 7 new projects and US$11 million in newly registered capital.
Year-to-date (YTD), the sector has attracted a total of 50 new projects with US$628 million in newly registered capital, showing a significant year-over-year increase in investment despite the decline in November.
The construction sector in Vietnam is vital for the country’s infrastructure development, with ongoing demand for residential, commercial, and industrial projects.
Key foreign firms in the construction sector in Vietnam include leading multinational companies such as Hyundai Engineering & Construction, Vinci Construction, and China State Construction Engineering, which contribute significantly to major infrastructure projects across the country.
While November’s figures reflect a temporary dip, the construction sector remains essential to Vietnam’s continued growth, with strong long-term prospects.
See also: Construction Industry in Vietnam