Land Ministry Approves US$2.7 Billion in Construction Investment in Q1 2019

• 29 May 2019
• Local News
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More than US$2.7 billion in construction investment projects were approved within the first quarter (four months) of 2019 with China being the leading investor, according to the latest figures from the Ministry of Land Management Urban Planning and Construction (MLMUPC).

From January to April, MLMUPC approved construction investment projects with an estimated value of US$ 2,742 million with foreign investment amounting to about US$367 million. Among those foreign investors, China accounted for most of investment, valued at approximately US$ 315 million while ASEAN countries accounted for US$4 million.

The investments mostly focused on high-rise residential buildings, factories, boreys, hotels, commercial buildings, and office buildings.

In addition, 226 Chinese construction companies and 61 ASEAN construction companies are registered with the ministry. Those ASEAN countries include Vietnam (26), Thailand (14), Malaysia (12), Singapore (6), Indonesia (2), and the Philippines (1).

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