New Vietnam Construction Cost Decree Passed

• Proeksa Meas
• 31 December 2015
• Construction Focus
• 1882 Views

The Vietnam government recently announced new Decree, which came into effect on 10 May, 2015, and focuses on the management of construction costs, including total construction investment.

Key regulations of the new decree include construction costs having to be calculated correctly and sufficiently for each project, conformable to design requirements, technical instructions, construction conditions, market prices at that time, and the construction site.

In addition, investors may hire cost management advisors that are qualified to estimate, examine, control, and manage construction costs in terms of construction project management.

Finally, construction costs are to be managed according to criteria agreed by investment deciders and investors during corresponding stages of cost estimation.