New opportunities for construction contractors this year 2024
Construction contractors have faced many challenges in 2023 when input costs increased, outstanding debt persisted, projects were suspended and many businesses were at risk of dissolution. Therefore, entering 2024, the Government has made new moves to support the recovery of the industry such as: amending relevant laws, direct guiding documents from the Government including Resolution 33/NQ-CP on solutions to solve and promote the development of the real estate market; Decrees create conditions for businesses to access credit capital, reduce taxes, etc. These are timely and practical solutions to restore the construction industry, creating new opportunities for contractors.
According to a report by the Vietnam Institute of Real Estate Research (VIRES), the real estate market will accelerate recovery in 2024 thanks to capital sources supporting growth and stability.
The prosperity of industry, construction and services. Demand for commercial housing will increase in the coming years. The trend of digital transformation and technology application in management, design, and construction also contributes to creating new breakthroughs for the construction industry.
In addition, another positive sign recorded is that FDI capital increased again. Vietnam is taking advantage of the opportunity to shift supply chains and global investment capital flows thanks to the advantage of a favorable geographical location. political stability, competitive labor costs and participation in many free trade agreements. Therefore, the need to build industrial parks, factories, warehouses, infrastructure and related services will increase in the near future.
