70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Construction
Vietnam construction industry stays positive during Covid-19
Hai Yen 13:59, 2020/07/25
The construction industry grew 4.5% year-on-year during the first six months of 2020, which was higher than the GDP growth rate of 1.8%.

Despite the negative impact of Covid-19, there were positive signs in the growth rate of the construction industry and the coated steel segment during the first six months of 2020, according to Viet Dragon Securities Company (VDSC).

 

Notably, the construction industry grew 4.5% year-on-year during the period, which was higher than the GDP growth rate of 1.8%. Domestic consumption of coated steel increased by 6.5%, while that of construction steel and steel pipe decreased by 8.1% and 6.8%, respectively.

Meanwhile, the steel industry was hit strongly during the pandemic. In the January – June period, the steel industry (including construction steel, coated steel, and steel pipes) produced 8.1 million tons of steel and sold 7.8 million tons, of which 1.4 million tons were exported, decreasing by 6.4%, 7%, and 12.8% year-on-year, respectively. Noticeably, although depending on export, coated steel consumption decreased by just 1.2% year-on-year.

 

In the second quarter, steel consumption recovered significantly while export activities still faced difficulties. Construction steel selling volume in the domestic market increased by 13.2% quarter–on-quarter and flattened year-on-year. Steel pipe domestic consumption was strong in this period as the selling volume grew by 43.6% quarter-on-quarter and 6.5% year-on-year.

On the contrary, export volume of construction steel, coated steel, and steel pipe decreased by 9.8%, 7.3% and 29.9% year-on-year, respectively.

 
 

In the construction steel segment, Hoa Phat Group (HPG) continued to expand its market share from 26.2% in 2019 to 30.9% in the first half of this year. Its selling volume increased by 12.4% year-on-year, although the segment’s selling volume decreased by 8.7%. In the Southern market, HPG’s market share expanded steadily as it sold roughly 65,000 tons in June, equivalent to a market share of 24.3%, higher than that of 22.6% in the previous month.

 

Meanwhile, TISCO’s market share increased from 7.5% to 8.4% to become the second-largest manufacturer in this segment.

 

In the coated steel segment, leading companies’ market share was stable. Hoa Sen Group (HSG)’s share increased slightly from 29.5% to 30.3%. Noticeably, TVP Steel’s market share continued to increase from 5.5% in 2018 to 7.4% in 2019, and 10.6% in the January – June period. In the steel pipe segment, HPG’s market share was stable at 31.1% while HSG’s increased from 15.3% to 16.8%.

RELATED NEWS
TAG: Vietnam construction industry GDP covid-19 coronavirus nCoV pandemic steel Hoa Phat Hoa Sen GDVC
Other news
15:38, 2024/03/27
Hanoi People’s Council set to ratify capital planning until 2045 in late March
The planning project is expected to not only help alleviate population density in the inner city area but also serve as a driving force for the sustainable development of the capital city, namely the city-within-a-city model.
05:08, 2024/03/08
Hanoi aims to complete An Duong – Thanh Nien overpass in June
The project is important for easing traffic congestion in the capital.
17:14, 2024/02/29
Hanoi nears start of construction on US$660-million Tran Hung Dao Bridge project
Construction is scheduled to take two years, with an anticipated completion date in 2027.
22:37, 2024/02/27
Hanoi creates favorable conditions for Turkish businesses
Major Turkish conglomerate IC & Holding expressed its desire to invest in large-scale transport infrastructure projects in Hanoi.
07:27, 2024/02/27
Transforming Thien Quang Lake: Central hub for community connectivity
The objective is to enhance the urban landscape and upgrade existing public amenities, creating versatile cultural and artistic spaces with modern facilities to improve the quality of life and attract visitors.
21:47, 2024/02/22
PM urges to accelerate investment in expressway projects
By 2030, the country aims to have approximately 5,000 kilometers of expressways.