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Updating and adjusting the price announcement of construction materials and construction price index should be done promptly in accordance with the market price level. Download Updating and adjusting the price announcement of construction materials and construction price index should be done promptly to match the market price level. The Ministry of Construction has just sent a written request to ministries, departments and branches; Peoples Committees of provinces and cities strengthen management and stabilize prices of construction materials, ensuring the implementation of construction investment projects, especially key national projects. Recently, the conflict and war situation in the Middle East region has become complicated, disrupting the global energy supply chain. World and domestic petroleum prices tend to increase rapidly, potentially causing a chain impact on production and transportation costs and prices of construction materials, especially mining materials and materials used in large quantities in construction projects such as sand, stone, backfill, cement, steel... In the context that the Government is focusing on directing and promoting the disbursement of public investment capital, implementing important national infrastructure projects, and key transportation projects. communications, energy, urban development and strategic infrastructure, striving to achieve the goal of double-digit economic growth, abnormal fluctuations in construction material prices will affect the progress of project implementation, increase investment costs, arise difficulties in implementing construction contracts, disbursement of public investment capital and socio-economic development goals. Timely announce unusual increases in material prices To proactively monitor and forecast developments in construction material prices; To promptly have solutions to manage and stabilize the market, the Ministry of Construction requests the Peoples Committees of provinces and centrally-run cities to strengthen inspection and supervision of law enforcement and handle violations of the law on construction material prices. Do not allow hoarding, speculation, price inflation or taking advantage of market fluctuations to increase prices unreasonable or spread inaccurate information that disrupts market information and other violations according to the provisions of law in the field. price.RELATED NEWSStrengthening management solutions, stabilizing material prices, removing difficulties for traffic projectsEnsuring construction materials meet the needs of implementing projects serving APEC 2027 in Phu QuocNo administrative intervention in supply-demand and prices of construction materialsProvinces and cities need to focus on synthesizing the demand for construction materials; Ensuring material supply, giving priority to key national projects and urgent civil works; Review reserves of mineral mines to promote operating licenses and increase mining capacity. Along with that, review the organization of collecting and processing information on construction material prices according to the direction of the Prime Minister and the guidance of the Ministry of Construction to synchronously deploy solutions, ensure supply, stabilize construction material prices to serve the construction of projects and works in the locality. Updating and adjusting the announcement of construction material prices and construction price index should be Timely implementation to match the market price level. For materials with unusual fluctuations due to the influence of fuel prices, material prices must be announced monthly or earlier (when necessary) so that units have a basis to prepare and adjust estimates to meet construction contract management requirements. Do not let the situation of announcing construction material prices or construction price indexes be late or not reflecting the correct market price level, affecting the implementation of construction investment projects. Construction, the Ministry of Construction proposed. Choose a contract form appropriate to market developments. Mentioning additional solutions to manage and stabilize the price of project construction materials, the Ministry of Construction also requested ministries, departments, branches and Peoples Committees of provinces and centrally-run cities to direct relevant agencies to closely monitor developments in the construction materials market, especially materials mainly serving key projects. Specialized agencies need to promptly synthesize, analyze and predict. Report and develop scenarios for fluctuations in material prices, the impact of increases in construction material prices (if any) on the total construction investment of the project and the ability to meet capital sources to take timely management measures. Project management boards and investors strictly control construction investment costs, evaluate how increases in construction material prices affect the project to use reserve costs effectively and reasonably and choose contract forms appropriate to market developments; Urgently review ongoing contracts, evaluate influencing factors and research solutions to overcome difficulties and obstacles in contract implementation, especially construction contracts signed in the form of fixed unit prices and packages.... According to experts from the Vietnam Construction Materials Association, the cost of a project often focuses most on key materials such as steel, cement, asphalt and transportation. As energy prices rise, so do costslogistics and construction, input material prices were also pushed up, causing the total investment to exceed the initial estimate. Just after the Lunar New Year holiday, the prices of many materials increased by about 20 - 30%. This is a significant increase, creating great pressure on ongoing projects. In the context of raw material and energy costs remaining at high levels, the construction materials market is forecast to continue
