ASIA NEWS NETWORK
WE KNOW ASIA BETTER
Vietnamese construction firms report crumbling turnovers
Publication Date : 02-09-2013
Firms under the Ministry of Construction in August made a turnover of 11.81 trillion Vietnam dong (US$557 million), bringing the total for the first eight months to nearly 94.84 trillion Vietnam dong (US$4.47 billion), down 7.2 per cent year-on-year.
Of this total, the turnover of industrial and construction materials in the first eight months was 38.895 trillion Vietnam dong, up by 3.7 per cent, data from the ministry showed.
Cement production in January-August reached 33.32 million tonnes, equal to 59.5 per cent of the annual target.
The industry sold roughly 30.57 million tonnes of cement domestically and exported roughly 8.79 million tonnes in the first eight months, equal to 63 per cent of its annual target.
During this period, the turnover from consulting services for the construction industry also fell by 6.6 per cent to 832 billion Vietnam dong.
Earnings from other fields including housing and infrastructure also dropped 1.1 per cent to 2.58 trillion Vietnam dong.
The industry's import value in August was $34 million, making a total of $135 million for the same period. The imports were mainly machinery and equipment.
The industry earned an export value of $114 million in eight months, equal to 67.8 per cent of its annual target.
The ministry added that it will keep a close watch on the real estate and construction material markets and suggest more effective measures on how to improve management and boost growth to the state budget.
Supervising the publishing of an index of construction prices in cities and provinces nationwide will also be undertaken to create a more competitive and transparent housing market, it said.