2022 national construction cost index announced
Vietnam’s national construction cost index (CCI) last year increased by 4.92% against that of 2021 and 11.01% from 2020, the Ministry of Construction has announced.
The national CCI is a relative indicator reflecting the fluctuation of construction material prices on the national scale.
It includes the general construction cost index of the whole country and those of popular types of works (average for the whole country).
Compared to 2020, the Ministry of Construction reported that housing price index rose by 10.13%; that of cement concrete road by 10.25%, and asphalt concrete by 18.47%; and cement concrete bridge by 17.12%. In comparison with those of 2021, the figures are 3.23%, 5.55%, 10.98%, and 6.37%, respectively.
According to Deputy Minister of Construction Bui Hong Minh, the publication of the national CCI is a foundation for determining the investment rate as well as a reference in analysing the average cost fluctuation when determining contingency costs in the total investment and works related to the assessment of cost fluctuations to serve macro management and administration.