Vietnam’s construction industry is expected to continue to maintain the growth momentum in 2025, owing to the government's plan to invest in transport infrastructure and the housing sector to address the traffic issue and housing deficits. The analyst expects the construction industry to record real growth of 8% in 2025, supported by investments in transport and energy infrastructure. In June 2025, a Vietnamese power company, Thai Binh LNG Power JSC, announced that the construction of a VND65.9 trillion ($2.6 billion) Liquefied Natural Gas (LNG) fueled power project in the northern Vietnamese province of Thai Binh is slated to commence in Q4 2025, spanning an area of 263.5ha within the Thai Binh Economic Zone. The 1.5GW Thai Binh LNG power plant is designed to have two turbines, with the first expected to come online in Q4 2028 and the second in Q4 2029.
The construction industry in Vietnam is expected to register an annual average growth of 6.9% from 2026 to 2029, supported by the government’s efforts to develop transport and housing infrastructure in the country and the Ministry of Industry and Trade’s strategy to produce 20 million tonnes of hydrogen per year by 2050. In June 2025, Vietnam’s Ministry of Industry and Trade (MoIT) approved a plan to implement the revised Power Development Plan VIII (PDP8) to scale up domestic energy generation capacity. Under this plan, by 2030, the government aims for solar power to reach 73,416MW, onshore wind to reach 38,029MW, and offshore wind to reach 6,000MW (increasing to over 17,000MW by 2035). Furthermore, the nuclear power plan was reintroduced through the revised plan, with Ninh Thuan 1 and 2 operating from 2030 to 2035 at 2,000-3, 200MW each.
The construction industry in Vietnam is expected to register an annual average growth of 6.9% from 2026 to 2029, supported by the government’s efforts to develop transport and housing infrastructure in the country and the Ministry of Industry and Trade’s strategy to produce 20 million tonnes of hydrogen per year by 2050. In June 2025, Vietnam’s Ministry of Industry and Trade (MoIT) approved a plan to implement the revised Power Development Plan VIII (PDP8) to scale up domestic energy generation capacity. Under this plan, by 2030, the government aims for solar power to reach 73,416MW, onshore wind to reach 38,029MW, and offshore wind to reach 6,000MW (increasing to over 17,000MW by 2035). Furthermore, the nuclear power plan was reintroduced through the revised plan, with Ninh Thuan 1 and 2 operating from 2030 to 2035 at 2,000-3, 200MW each.
The Construction in Vietnam - Key Trends and Opportunities to 2029 (Q3 2025) report provides detailed market analysis, information, and insights into the Vietnamese construction industry, including:
- The Vietnamese construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Vietnamese construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Vietnam. It provides:
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Vietnam, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level with over 600 time-series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
