The value of Vietnam construction market is forecasted by GlobalData to grow by 6.6% in real terms in 2024, having grown by 8.2% in 2023. A key growth market will be the infrastructure market, with output rising by 11.0% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the five largest construction projects initiated in Vietnam during Q2 2024, according to GlobalData’s construction projects database.
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1. Hanoi’s Urban Railway No. III (Depot)
The Hanoi Urban Railway No. III project involves the construction of an 8.7km railway line on 15ha of land in Hanoi.
Construction work started in Q2 2024 and is expected to be completed in Q1 2028.
The project aims to address traffic congestion by building urban railroads, which is seen as a key solution mainly for cities like Hanoi and HCM City.
2. Dung Quat I Gas-Fired Power Plant 750 MW
The project involves the construction of a 750MW gas-fired power plant in Quang Ngai.
Construction work commenced in Q2 2024 and is expected to finish in Q4 2027.
The project aims to meet the growing demand for power in the region.
3. Dung Quat III Gas-Fired Power Plant 750 MW
The project involves the construction of a 750MW gas-fired power plant in Quang Ngai.
Construction work started in Q2 2024 and is forecast to complete in Q4 2027.
4. Duc Hoa III Industrial Park Textile Product Finishing Factory
The project involves the construction of a 360,000m2 textile product finishing factory on 36ha of land with a production of 180 million meters of fabric per annum (equivalent to 36,000 tons of products per annum) in Duc Hoa district, Long An.
Construction work commenced in Q2 2024 and is expected to be completed in Q4 2026.
5. Huu Thanh Beverage Manufacturing Plant
The project involves the construction of a beverage manufacturing factory with a production capacity of 800 million liters per annum on 20ha of land in Long An.
Construction work started in Q2 2024 and is expected to be completed in Q1 2026.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
