| Issue |
E3S Web Conf.
Volume 457, 2023
International Scientific and Practical Symposium “The Future of the Construction Industry: Challenges and Development Prospects” (FCI-2023)
|
|
|---|---|---|
| Article Number | 02035 | |
| Number of page(s) | 8 | |
| Section | Integrated Safety in Construction | |
| DOI | https://doi.org/10.1051/e3sconf/202345702035 | |
| Published online | 05 December 2023 | |
Price management in construction investment in Vietnam: Current situation and proposed solutions
1 University of Transport and Communication, Dong Da District, Hanoi, Vietnam
2 Hanoi Architectural University, Hanoi, Vietnam
* Corresponding author: khuongdungkt@yahoo.com
The Covid-19 pandamic has caused unprecedented challenges and unpredictable fluctuations in Vietnamese economy. Production and supply chain of materials is constantly broken, while prices of energy, supplies, and raw materials have sharply increased, which has boosted construction costs and affected the medium-term public investment capital allocation plan. The regulation system on construction prices as a cost management tool has revealed inadequacies and no longer appropriate for investment projects using state capital or large-scale PPP projects, therefore no longer ensures the principles of accuracy and sufficiency. For construction investment to be effective and investment objectives to be met, it is necessary to complete the basis for the state management of costs, including the construction price system. This study examines the process of formation and management of construction prices in a number of developed economies such as the US., Germany, Poland, and Russia, analyzes and evaluates the shortcomings, and proposes solutions to improve construction price management in Vietnam.
Key words: construction cost / price management / construction investment / government
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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