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Rosy outlook for construction industry
With work on several large infrastructure projects scheduled to begin this year, the construction and construction material industries are set for a recovery, experts said.
Work on the 105.5 km Ha Noi-Hai Phong highway started this month. The VND22 trillion (US$1.25 billion) project will include nine major bridges, 21 medium-sized bridges, and 22 fly-overs.
The first phase of the highway will be opened to traffic by 2012.
The Ministry of Transport plans to begin work on an expressway from Noi Bai to Lao Cai next April.
Land acquisition for the 245 km, VND20 trillion ($1.14 billion) expressway is nearly complete.
In the south, work on the 51km HCM City-Long Thanh-Dau Giay highway is expected to begin in the second quarter. It will cost VND15 trillion ($858 million).
Besides, authorities plan to speed up work on several other highways that has fallen behind schedule - like Cau Gie-Ninh Binh and Trung Luong-My Thuan.
Housing plans
Minister of Construction Nguyen Tran Nam says his ministry plans to spend VND6 trillion ($342.2 million) to build 24,000 low-in-come apartments in 2009-10.
With the Government announcing an economic stimulus package and loosening monetary policy, work has resumed on several stalled construction projects, the ministry says.
Analysts say with so many major construction works kicking off, this year's demand for construction materials especially cement and steel, is likely to be enormous.
The Viet Nam Infrastructure Development and Financial Investment Corp and Viet Nam Expressway Corporation, builders of the Ha Noi-Hai Phong and Cau Gie-Ninh Binh highways, say they have tied up supply of building materials with distributors.
VietNamNet, Viet Nam News
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