Price management in construction investment in Vietnam: Current situation and proposed solutions
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...
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| Format: | Article |
| Language: | English |
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EDP Sciences
2023-01-01
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| Series: | E3S Web of Conferences |
| Subjects: | |
| Online Access: | https://www.e3s-conferences.org/articles/e3sconf/pdf/2023/94/e3sconf_fci2023_02035.pdf |
| _version_ | 1797345279274385408 |
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| author | Nghiem Van Dinh Thi Tuyet Dung Nguyen |
| author_facet | Nghiem Van Dinh Thi Tuyet Dung Nguyen |
| author_sort | Nghiem Van Dinh |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-08T11:15:17Z |
| format | Article |
| id | doaj.art-5461e358641542c8b889b63f808b8bef |
| institution | Directory Open Access Journal |
| issn | 2267-1242 |
| language | English |
| last_indexed | 2024-03-08T11:15:17Z |
| publishDate | 2023-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | E3S Web of Conferences |
| spelling | doaj.art-5461e358641542c8b889b63f808b8bef2024-01-26T10:35:45ZengEDP SciencesE3S Web of Conferences2267-12422023-01-014570203510.1051/e3sconf/202345702035e3sconf_fci2023_02035Price management in construction investment in Vietnam: Current situation and proposed solutionsNghiem Van Dinh0Thi Tuyet Dung Nguyen1University of Transport and CommunicationHanoi Architectural UniversityThe 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.https://www.e3s-conferences.org/articles/e3sconf/pdf/2023/94/e3sconf_fci2023_02035.pdfconstruction costprice managementconstruction investmentgovernment |
| spellingShingle | Nghiem Van Dinh Thi Tuyet Dung Nguyen Price management in construction investment in Vietnam: Current situation and proposed solutions E3S Web of Conferences construction cost price management construction investment government |
| title | Price management in construction investment in Vietnam: Current situation and proposed solutions |
| title_full | Price management in construction investment in Vietnam: Current situation and proposed solutions |
| title_fullStr | Price management in construction investment in Vietnam: Current situation and proposed solutions |
| title_full_unstemmed | Price management in construction investment in Vietnam: Current situation and proposed solutions |
| title_short | Price management in construction investment in Vietnam: Current situation and proposed solutions |
| title_sort | price management in construction investment in vietnam current situation and proposed solutions |
| topic | construction cost price management construction investment government |
| url | https://www.e3s-conferences.org/articles/e3sconf/pdf/2023/94/e3sconf_fci2023_02035.pdf |
| work_keys_str_mv | AT nghiemvandinh pricemanagementinconstructioninvestmentinvietnamcurrentsituationandproposedsolutions AT thituyetdungnguyen pricemanagementinconstructioninvestmentinvietnamcurrentsituationandproposedsolutions |