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Handbook Cover Photos:1. Lancaster Lincoln - HCMC
2. Spirit of Saigon - HCMC
3. Lancaster Legacy - HCMC
4. Vietcapital Tower - HCMC
5. Empire City - HCMC
14
2
3 5
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
2
3
Copyright Statement and information ca-veat
Tenth Edition 2017
© Arcadis Vietnam Co., Ltd
All rights reserved. No part of this publication may be produced, copied, stored or transmitted in any form without prior written permission from Arcadis Vietnam Co., Ltd.
handbook are current as at 4th Quarter 2016.
The information contained herein should be regarded as indicative and for general guidance only. Arcadis Vietnam Co., Ltd. makes no representation, expressed or implied, with regard to the accuracy of the information herein and cannot accept any responsibility or liability for any errors or omissions that may be made.
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
4
TABLE OF CONTENTS
Table of ContentsCalendarsIntroduction
1. CONSTRUCTION COST DATA
Construction Market 2017 OutlookMajor Rates for Selected Asian CitiesConstruction Cost SpecificationConstruction Costs for Selected Asian CitiesM&E Costs for Selected Asian CitiesUtility Costs for Selected Asian Cities
2. GENERAL CONSTRUCTION DATA
Material Price IndicesImport DutiesProgress PaymentsEstimating Rules of Thumb
3. PROPERTY INVESTMENT
Building Control and ProceduresProject Closed Out ProceduresTypical Submission FlowchartKey Planning ParameterBuilding Areas DefinitionsProcurement StrategiesContractor Selection StrategiesProperty Overview
Page No.
467
101622243036
42444546
5256575861667176
5
4. VIETNAM BUSINESS ENVIRONMENT
LanguageAccounting SystemBanksGovernment AdministrationTaxationInsuranceWorkforce
5. OTHER INFORMATION
Vietnam MapDomestic RoutesVietnam Key DataSome Interesting FactsRelevant WebsitesPublic HolidaysPrime RatesFinancial FormulaeIDD Codes and Time DifferencesConversion FactorsArcadis Asia Leadership TeamArcadis Asia SectorsArcadis Asia ServicesDirectory of officesAcknowledgement
Page No.
909091939499
105
108109110114116118128129130132134136140142158
7INTRODUCTION
INTRODUCTION
This version of Arcadis Handbook - Vietnam 2017, as other future annually published handbooks, focuses on the construction cost profile of Vietnam and those of the major cities in Asia.
The handbook is structured to serve as a general reference guide on construction cost indicators in Asia.
The information contained in this handbook has been compiled by Arcadis Vietnam Co., Ltd. Any further information and/or if advice relating to particular projects in specific region is required, please contact any of the regional offices listed under the Directory of Arcadis Offices at the end of this handbook.
Arcadis Vietnam Co., Ltd.
Construction Market 2017 Outlook
Major Rates for Selected Asian Cities
Construction Costs for Selected Asian Cities
M&E Costs for Selected Asian Cities
Utility Costs for Selected Asian Cities
CONSTRUCTION COST DATA1
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA10
CONSTRUCTION MARKET 2017 OUTLOOK
In 2016 we at ARCADIS have seen our business expand significantly in: Project & Construction Management, Water Management and Environmental Management. Also and happily our sister company Callison RTKL have made great inroads into the Architectural market.
Our rapid expansion in 2016 is a function of renewed optimism within the Vietnam market. Foreign interest has increased and consequently we have seen growth in Foreign Investment and also the domestic market is picking up. The banking sectors non-performing loans issues are being rectified and as consequence we do expect an improvement in money supply into the domestic economy.
We think Vietnam will still expand as a manufacturing export growth economy in 2017 however the US withdrawal from the Trans Pacific Partnership will have some effects on manufacturing output.
Vietnams GDP growth in 2017 will remain quite strong at circa 6.5% and thus it will remain one of the Asia regions best performers.
11CONSTRUCTION COST DATA
ANNUAL FOREIGN INVESTMENT
0500
1000
1500
2000
2500
3000
'00
'01
'02
'03
'04
'05
'06
'07
'08
'09
'10
'11
'12
'13
'14
'15
'16
(Nos
. of p
roje
cts)
0
100 80 60 40 20(bn
US$
)
‘00
2.84
1.31
391
‘01
3.14
1.71
555
‘02
3.00
1.27
808
‘03
3.19
1.14
791
‘04
4.55
1.22
811
‘05
6.84
1.97
970
‘06
12.0
0
4.67
987
‘07
21.3
0
6.04
1544
‘08
71.7
3
11.5
0
1557
‘09
22.6
3
10.0
0
1155
‘10
18.6
0
11.0
0
969
‘11
12.7
0
10.0
5
919
‘12
12.1
8
10.0
0
980
‘13
20.8
2
10.5
5
1175
‘14
20.2
3
12.3
5
1588
‘15
22.7
6
14.5
0
2013
‘16
24.3
7
15.8
0
2556
Year
R
egis
tere
d C
apita
l (bn
US
$)
Le
gal C
apita
l (bn
US
$)
N
o. o
f Pro
ject
s
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA12
Taiw
an
1,86
0.16
122.
00
Mal
aysi
a
914.
03
40.0
0
Japa
n
2,58
9.86
341.
00
S.Ko
rea
7,03
6.30
828.
00
Sing
apor
e
2,41
9.09
210.
00
B.V.
Isla
nds
858.
24
48.0
0
Hon
g Ko
ng
1,64
0.15
166.
00
Thai
land
706.
50
35.0
0
Unite
d St
ates
400.
40
64.0
0
Chi
na
1,87
5.22
278.
00
FDI BY COUNTRIES
Taiw
anM
alay
sia
Japa
nS
. Kor
eaS
inga
pore
B.V
.Isla
nds
Hon
g K
ong
Thai
land
Uni
ted
Sta
tes
Chi
na020
0
400
600
800
1000
Nos
. of p
roje
cts
0
2000
4000
6000
8000
(mil
US
$)
Cou
ntry
R
egis
tere
d C
apita
l (m
il U
S$)
N
o. o
f Pro
ject
s
13CONSTRUCTION COST DATA
FDI BY SECTORS
92%
2%6%
Industry and construction Agriculture & Forestry & Aquaculture Service
Sector No. ofprojects
RegisteredCapital
(mn US$)
1
2
3
4
Industry and construction
Manufacturing
Property
Accommodation
Construction
Mining
Electricity, gas and water productionand distribution
Information and Communication
Wholesale & Retail; Repair
Water supply & Waste treatment
Agriculture & Forestry & Aquaculture
Service
Art & Entertainment
Logistics
Finance, Banking & Insurance
Health care & Social welfare
Science & Technology
Education and Training
Administration & Supporting services
Homecare
Others
Total
2,016
1,020
59
97
124
1
2
195
505
13
12
528
2
88
12
10
282
70
58
1
5
2,556
21,201
15,539
1,686
407
610
70
132
369
1,899
488
99
3,072
330
882
582
52
933
60
160
4.05
67.75
24,373
Billio
n U
S$
AR
CA
DIS
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TNA
M C
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LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA14
‘00
1.77
1.65
‘01
2.41
1.50
‘02
1.81
1.53
‘03
1.76
1.42
‘04
5.57
1.65
‘05
2.52
1.79
‘06
2.82
1.79
‘07
3.80
2.18
‘08
3.46
2.14
‘09
5.40
4.10
‘10
3.40
3.54
‘11
6.80
3.65
‘12
5.87
4.18
‘13
6.60
5.13
‘14
4.38
5.66
‘15
3.50
5.00
‘16
5.38
3.70
VIETNAM ANNUAL ODA
012345678
'00
'01
'02
'03
'04
'05
'06
'07
'08
'09
'10
'11
'12
'13
'14
'15
'16
Cou
ntry
O
DA
Con
clus
ion
O
DA
Dis
burs
emen
t
15CONSTRUCTION COST DATA
CONSTRUCTION VALUE
‘00
7.51
1.63
‘01
12.7
8
1.94
‘02
10.5
7
2.07
‘03
10.5
9
2.39
‘04
9.03
2.82
‘05
10.8
0
3.36
‘06
11.0
5
4.03
‘07
12.1
0
4.95
‘08
0.02
5.83
‘09
11.3
6
6.19
‘10
10.0
6
7.26
‘11
(0.9
7)
7.86
‘12
2.09
8.59
‘13
5.83
9.14
‘14
7.07
9.80
‘15
10.8
2
10.3
9
‘16
9.10
7.01-24681012%
(2)-2468101214Billio
n U
S$
Cou
ntry
C
onst
ruct
ion,
Rea
l Gro
wth
C
onst
ruct
ion
Valu
e
'00
'01
'02
'03
'04
'05
'06
'07
'08
'09
'10
'11
'12
'13
'14
'15
'16
DES
CR
IPTI
ON
MAN
ILA
INDI
A₲
JAK
AR
TA#
HO
CH
I MIN
H#
SEO
UL
$UN
ITPH
PIN
RID
RVN
DK
RW
1. Ex
cava
ting b
asem
ent ≤
2.00
m de
ep
2. Ex
cava
ting f
or fo
oting
s ≤ 1.
50m
deep
3. Re
move
exca
vated
mate
rials
off si
te
4. Ha
rdco
re be
d blin
ded w
ith fin
e mate
rials
5. Ma
ss co
ncre
te gr
ade 1
5
6. Re
infor
ced c
oncre
te gr
ade 3
0
7. Mi
ld ste
el ro
d rein
force
ment
8. Hi
gh te
nsile
rod r
einfor
ceme
nt
9. Sa
wn fo
rmwo
rk to
soffit
s of s
uspe
nded
slab
s
10. S
awn f
ormw
ork t
o colu
mns a
nd w
alls
11. 1
12.5m
m thi
ck br
ick w
alls
m3 m3 m3 m3 m3 m3 kg kg m2 m2 m2
250
280
145
850
2,800
3,600 41 42 1,000
950
N/A
185
210
N/A
4,350
5,850
7,150 66 68 650
700
1,050
35,00
0
60,00
0
25,00
0
400,0
00
1,000
,000
980,0
00
8,500
8,500
190,0
00
170,0
00
200,0
00
92,40
0
92,40
0
84,70
0
280,9
00
1,696
,400
1,955
,800
16,80
0
16,00
0
201,8
00
198,9
00
312,7
80
1,990
1,990
10,10
0
30,00
0
66,00
0
80,00
0
1,280
1,310
30,00
0
30,00
0
46,00
0
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA16
MAJOR RATES FOR SELECTED ASIAN CITIES
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls a
nd a
re b
ased
on
lum
p su
m fi
xed
pric
e co
ntra
ct ra
tes
excl
usiv
e of
pre
limin
arie
s an
d co
ntin
genc
ies.
Ω R
ate
for a
lum
iniu
m w
ith a
nodi
zed
finis
h; 6
mm
thic
k.
₲
All
rate
s ab
ove
are
Sup
ply
and
Fix,
bas
ed o
n pr
ojec
ts in
Ban
galo
re a
nd
ar
e ne
tt of
VA
T an
d S
ervi
ce T
ax. M
umba
i cos
ts a
re g
ener
ally
8%
hig
her.
# R
ates
are
net
t of V
AT.
æ
Rat
e fo
r 9m
m g
ypsu
m b
oard
.
$ R
ates
incl
ude
labo
ur c
osts
and
are
net
t of V
AT.
12. “
Kliplo
k Colo
rbond
” 0.64
mm pr
ofiled
stee
l she
eting
13. A
lumini
um ca
seme
nt wi
ndow
s, sin
gle gl
azed
14. S
tructu
ral st
eelw
ork - b
eams
, stan
chion
s and
the l
ike
15. S
teelw
ork - a
ngles
, cha
nnels
, flats
and t
he lik
e
16. 2
5mm
ceme
nt an
d san
d (1:3
) pav
ing
17. 2
0mm
ceme
nt an
d san
d (1:4
) plas
ter to
wall
s
18. C
erami
c tile
s bed
ded t
o floo
r scre
ed (m
/s)
19. 1
2mm
fibrou
s plas
terbo
ard ce
iling l
ining
20. T
wo co
ats of
emuls
ion pa
int to
plas
tered
surfa
ces
Avera
ge ex
pecte
d prel
imina
ries
m2 m2 kg kg m2 m2 m2 m2 m2 %
401,1
10 - 5
97,60
0
6,315
,000
52,65
0
52,65
0
73,20
0
144,0
00
674,1
80
205,9
20
88,90
0
8 - 12
1,100
10,50
0
125
125
400
360
1,600
1,090
370
12 -
18
1,650
5,750
110
110
450
380
1,650
1,300
230
8 - 12
250,0
00
1,500
,000
21,00
0
21,00
0
80,00
0
90,00
0
160,0
00
180,0
00
25,00
0
8 - 10
40,00
0
330,0
00
1,710
1,710
3,200
9,500
66,00
0
27,00
0
8,100
6 - 11
æ
Ω
17CONSTRUCTION COST DATA
(Cont'd)
DES
CR
IPTI
ON
SHA
NG
HA
IB
EIJI
NG
GU
AN
GZH
OU
/SH
ENZH
ENH
ON
G K
ON
GC
HO
NG
QIN
G/
CH
ENG
DU
UNIT
RM
BR
MB
RM
BH
K$
RM
B
1. Ex
cava
ting b
asem
ent ≤
2.00
m de
ep
2. Ex
cava
ting f
or fo
oting
s ≤ 1.
50m
deep
3. Re
move
exca
vated
mate
rials
off si
te
4. Ha
rdco
re be
d blin
ded w
ith fin
e mate
rials
5. Ma
ss co
ncre
te gr
ade 1
5
6. Re
infor
ced c
oncre
te gr
ade 3
0
7. Mi
ld ste
el ro
d rein
force
ment
8. Hi
gh te
nsile
rod r
einfor
ceme
nt
9. Sa
wn fo
rmwo
rk to
soffit
s of s
uspe
nded
slab
s
10. S
awn f
ormw
ork t
o colu
mns a
nd w
alls
11. 1
12.5m
m thi
ck br
ick w
alls
m3 m3 m3 m3 m3 m3 kg kg m2 m2 m2
30 30
100 -
180
165
320
420
3.8 3.8 85 85 85
26 31 37 170
433
430
4.1 4.1 85 73 72
30 25 65 180
460
498
5.3 5.3 80 80 60
225
205
280
950
1,150
1,350 9.2 9.2 420
420
420
18 25 58 160
300
320
3.7 3.7 50 50 65
δ
@
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA18
MAJOR RATES FOR SELECTED ASIAN CITIES
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls a
nd a
re b
ased
on
lum
p su
m fi
xed
pric
e co
ntra
ct ra
tes
excl
usiv
e of
pre
limin
arie
s an
d co
ntin
genc
ies.
δ R
ates
incl
udin
g du
mpi
ng c
harg
es.
@ R
ates
for 1
20m
m th
ick
conc
rete
blo
ck w
alls
.
* R
ates
for d
oubl
e gl
azed
win
dow
.
12. “
Kliplo
k Colo
rbond
” 0.64
mm pr
ofiled
stee
l she
eting
13. A
lumini
um ca
seme
nt wi
ndow
s, sin
gle gl
azed
14. S
tructu
ral st
eelw
ork - b
eams
, stan
chion
s and
the l
ike
15. S
teelw
ork - a
ngles
, cha
nnels
, flats
and t
he lik
e
16. 2
5mm
ceme
nt an
d san
d (1:3
) pav
ing
17. 2
0mm
ceme
nt an
d san
d (1:4
) plas
ter to
wall
s
18. C
erami
c tile
s bed
ded t
o floo
r scre
ed (m
/s)
19. 1
2mm
fibrou
s plas
terbo
ard ce
iling l
ining
20. T
wo co
ats of
emuls
ion pa
int to
plas
tered
surfa
ces
Avera
ge ex
pecte
d prel
imina
ries
m2 m2 kg kg m2 m2 m2 m2 m2 %
880
3,500 34 38 140
150
380
570 65
10 -
15
N/A
700
8.5 7.5 30 30 155
150 40 5 -
10
N/A
815
9.35
8.5 27 28 140
162 32 7 -
10
N/A
525
12.2 8.4 30 25 150
180 30 5 -
10
N/A
600
8.3 8.3 22 32 120
120 35 5 -
10
**
19CONSTRUCTION COST DATA
(Cont'd)
DES
CR
IPTI
ON
SIN
GA
POR
E ♣
KU
ALA
LUM
PUR
BR
UN
EIM
AC
AU
BA
NG
KO
K ⱷ
UNIT
S$R
MB
$M
OP
THB
1. Ex
cava
ting b
asem
ent ≤
2.00
m de
ep
2. Ex
cava
ting f
or fo
oting
s ≤ 1.
50m
deep
3. Re
move
exca
vated
mate
rials
off si
te
4. Ha
rdco
re be
d blin
ded w
ith fin
e mate
rials
5. Ma
ss co
ncre
te gr
ade 1
5
6. Re
infor
ced c
oncre
te gr
ade 3
0
7. Mi
ld ste
el ro
d rein
force
ment
8. Hi
gh te
nsile
rod r
einfor
ceme
nt
9. Sa
wn fo
rmwo
rk to
soffit
s of s
uspe
nded
slab
s
10. S
awn f
ormw
ork t
o colu
mns a
nd w
alls
11. 1
12.5m
m thi
ck br
ick w
alls
m3 m3 m3 m3 m3 m3 kg kg m2 m2 m2
20 20
15 -
20
50
190 -
200
125 -
130
1 - 1.
2
1 - 1.
2
42 42
35 -
40
15 -
22
15 -
22
20 -
25
60 -
70
240 -
280
260 -
320
2.9 -
3
2.9 -
3
38 -
45
38 -
45
45 -
52
3.5 3 3 43 115
130
0.9 0.9 15 15 16
130
150
100
1,200
1,350
1,250 7 7 250
250
450
140
160
120
650
2,200
2,400 23 22 420
420
450
♣♣
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA20
MAJOR RATES FOR SELECTED ASIAN CITIES
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls a
nd a
re b
ased
on
lum
p su
m fi
xed
pric
e co
ntra
ct ra
tes
excl
usiv
e of
pre
limin
arie
s an
d co
ntin
genc
ies.
♣ R
ates
are
net
t of G
ST.
♣♣ R
ate
for l
ean
conc
rete
blin
ding
.
ⱷ
Rat
es a
re n
ett o
f VA
T.
12. “
Kliplo
k Colo
rbond
” 0.64
mm pr
ofiled
stee
l she
eting
13. A
lumini
um ca
seme
nt wi
ndow
s, sin
gle gl
azed
14. S
tructu
ral st
eelw
ork - b
eams
, stan
chion
s and
the l
ike
15. S
teelw
ork - a
ngles
, cha
nnels
, flats
and t
he lik
e
16. 2
5mm
ceme
nt an
d san
d (1:3
) pav
ing
17. 2
0mm
ceme
nt an
d san
d (1:4
) plas
ter to
wall
s
18. C
erami
c tile
s bed
ded t
o floo
r scre
ed (m
/s)
19. 1
2mm
fibrou
s plas
terbo
ard ce
iling l
ining
20. T
wo co
ats of
emuls
ion pa
int to
plas
tered
surfa
ces
Avera
ge ex
pecte
d prel
imina
ries
m2 m2 kg kg m2 m2 m2 m2 m2 %
N/A
4,000 35 40 120
150
450
650
200 10
43 290
4.5 -
5.5
4.5 -
5.5
21 22 74 30
3.5 -
4
13 -
17
55 -
60
350 -
500
6.5 -
8
6.5 -
8
15 -
22
15 -
22
50 -
70
35 -
45
3.5 -
4.5
6 - 12
58
160 -
210
3.1 3.1 8 8 33 28 5 5 - 8
1,200
7,000 55 55 200
220
1,200
550
120
12 -
18
21CONSTRUCTION COST DATA
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA22
CONSTRUCTION COST SPECIFICATIONO
UTL
INE
SPEC
IFIC
ATI
ON
BU
ILD
ING
DO
MES
TIC
OFF
ICE
/C
OM
MER
CIA
L
HO
TELS
IND
UST
RIA
L
Apa
rtmen
ts, h
igh
rise,
ave
rage
sta
ndar
d
Apa
rtmen
ts, h
igh
rise,
hig
h en
d
Terr
aced
hou
ses,
ave
rage
sta
ndar
d
Det
ache
d ho
uses
, hig
h en
d
Apar
tmen
t uni
ts w
ith fi
t-out
, inc
ludi
ng a
ir-co
nditi
onin
g, k
itche
n ca
bine
ts a
nd h
ome
appl
ianc
es,
but e
xclu
ding
dec
orat
ive
light
fitti
ngs
and
loos
e fu
rnitu
reAp
artm
ent u
nits
with
goo
d qu
ality
fit-o
ut, i
nclu
ding
air-
cond
ition
ing,
kitc
hen
cabi
nets
and
hom
e ap
plia
nces
, but
exc
ludi
ng d
ecor
ativ
e lig
ht fi
tting
s an
d lo
ose
furn
iture
Hou
ses
with
fit-o
ut, i
nclu
ding
air-
cond
ition
ing,
kitc
hen
cabi
nets
and
hom
e ap
plia
nces
, but
ex
clud
ing
deco
rativ
e lig
ht fi
tting
s, lo
ose
furn
iture
, gar
den
and
park
ing
Hou
ses
with
goo
d qu
ality
fit-o
ut, i
nclu
ding
air-
cond
ition
ing,
kitc
hen
cabi
nets
and
hom
e ap
plia
nces
, but
exc
ludi
ng d
ecor
ativ
e lig
ht fi
tting
s, lo
ose
furn
iture
, gar
den
and
park
ing
Med
ium
/hig
h ris
e of
fices
, ave
rage
sta
ndar
dH
igh
rise
offic
es, p
rest
ige
qual
ityO
ut-o
f-tow
n sh
oppi
ng c
entre
, ave
rage
sta
ndar
dR
etai
l mal
ls, h
igh
end
RC
stru
ctur
e, c
urta
in w
all,
incl
udin
g pu
blic
are
a fit
-out
, ten
ant a
rea
with
rais
ed fl
oor/c
arpe
t,pa
inte
d w
all a
nd fa
lse
ceili
ng
Incl
udin
g pu
blic
are
a fit
-out
and
M&
E, b
ut e
xclu
ding
sho
p fit
-out
Indu
stria
l uni
ts, s
hell
only
(Con
vent
iona
l sin
gle
stor
ey fr
amed
uni
ts)
Ow
ner o
pera
ted
fact
orie
s, lo
w ri
se, li
ght w
eigh
t indu
stry
RC
stru
ctur
e w
ith s
teel
roof
and
M&E
to m
ain
dist
ribut
ion,
but
exc
ludi
ng a
/c, h
eatin
g an
d lig
htin
g
RC
stru
ctur
e, in
clud
ing
smal
l offi
ce w
ith s
impl
e fit
-out
and
M&
E, b
ut e
xclu
ding
a/c
and
hea
ting
Bud
get h
otel
s - 3
-sta
r, m
id m
arke
t
Bus
ines
s ho
tels
- 4/
5-st
ar
Luxu
ry h
otel
s - 5
-sta
r
1) In
terio
r dec
orat
ion
2) F
urni
ture
(fix
ed a
nd m
ovab
le)
3) S
peci
al li
ght f
ittin
gs (c
hand
elie
rs, e
tc.)
4) O
pera
ting
Sup
plie
s an
d E
quip
men
t (O
S&
E) e
xclu
ded
23CONSTRUCTION COST DATA
OTH
ERS
RC
stru
ctur
e
RC
stru
ctur
e, n
atur
al v
entil
aion
, no
faca
de e
nclo
sure
Incl
udin
g fit
-out
and
a/c
, but
exc
ludi
ng e
duca
tiona
l equ
ipm
ent
Incl
udin
g fit
-out
, loo
se fu
rnitu
re a
nd a
/c
Dry
spo
rts (
no s
wim
min
g po
ol)
and
are
for
'leis
ure
cent
re' t
ype
sche
mes
inc
ludi
ng m
ain
spor
ts h
all,
anci
llary
spo
rts fa
cilit
ies,
cha
ngin
g an
d sh
ower
s, re
stau
rant
/ ca
fe, b
ar, e
tc. C
osts
in
clud
e a/
c, F
urni
ture
, Fitt
ings
and
Equ
ipm
ent (
FF&
E).
Exc
ludi
ng m
edic
al a
nd o
pera
ting
equi
pmen
t
Und
ergr
ound
/bas
emen
t car
par
ks (<
3 le
vels
)
Mul
ti st
orey
car
par
ks, a
bove
gro
und
(<4
leve
ls)
Sch
ools
(prim
ary
and
seco
ndar
y)
Stu
dent
s' re
side
nces
Spo
rts c
lubs
, mul
ti pu
rpos
e sp
orts
/leis
ure
cent
res
(dry
spo
rts)
Gen
eral
hos
pita
ls -
publ
ic s
ecto
r
Not
es:
1. T
he c
osts
for
the
resp
ectiv
e ca
tego
ries
give
n ab
ove
are
aver
ages
bas
ed o
n fix
ed p
rice
com
petit
ive
tend
ers.
It m
ust b
e un
ders
tood
that
the
actu
al c
ost o
f a
build
ing
will
dep
end
upon
the
desi
gn a
nd m
any
othe
r fac
tors
and
may
var
y fro
m th
e fig
ures
sho
wn.
2. T
he c
osts
per
squ
are
met
re a
re b
ased
on
Con
stru
ctio
n Fl
oor A
reas
(CFA
) mea
sure
d to
the
outs
ide
face
of t
he e
xter
nal w
alls
/ ex
tern
al p
erim
eter
incl
udin
glif
t sha
fts, s
tairw
ells
, bal
coni
es, p
lant
room
s, w
ater
tank
s an
d th
e lik
e.3.
All
bulid
ings
are
ass
umed
to h
ave
no b
asem
ents
(exc
ept o
ther
wis
e st
ated
) and
are
bui
lt on
flat
gro
und,
with
nor
mal
soi
l and
site
con
ditio
n.
The
cost
exc
lude
s si
te fo
rmat
ion
wor
ks, e
xter
nal w
orks
, lan
d co
st, p
rofe
ssio
nal f
ees,
fina
nce
and
lega
l exp
ense
s.4.
The
sta
ndar
d fo
r eac
h ca
tego
ry o
f bui
ldin
g va
ries
from
regi
on to
regi
on a
nd d
o no
t nec
essa
ry fo
llow
that
of e
ach
othe
r.5.
All
cost
s ar
e in
US
$/m
2 C
FA. F
luct
uatio
n in
exc
hang
e ra
tes
may
lead
to c
hang
es in
con
stru
ctio
n co
sts
expr
esse
d in
U.S
. dol
lars
.
BU
ILD
ING
TYP
EHO
CHI
MIN
H &
IND
IA ₲
JAK
AR
TA $
SEO
UL
$M
AN
ILA
Ω
US$
/m2 C
FA
DO
MES
TIC
Apar
tmen
ts, hi
gh ris
e, av
erag
e stan
dard
Apar
tmen
ts, hi
gh ris
e, hig
h end
Terra
ced h
ouse
s, av
erag
e stan
dard
Detac
hed h
ouse
s, hig
h end
610 -
760
775 -
895
410 -
480
470 -
570
880 -
990
1,200
- 1,4
9078
0 - 92
51,5
00 -
1,950
525 -
600
795 -
955
360 -
385
475 -
500
692 -
784
954 -
1,07
736
7 - 47
799
8 - 1,
116
1,316
- 1.5
981,5
81 -
1,966
N/A
2,145
- 3,2
82
OFF
ICE/
CO
MM
ERC
IAL
Mediu
m/hig
h rise
offic
es, a
vera
ge st
anda
rdHi
gh ris
e offic
es, p
resti
ge qu
ality
Out-o
f-tow
n sho
pping
centr
e, av
erag
e stan
dard
Retai
l mall
s, hig
h end
710 -
825
820 -
1,12
0N/
A66
5 - 87
0
840 -
890
1,280
- 1,3
9075
0 - 88
01,1
00 -
1,250
395 -
430
495 -
525
385 -
420
540 -
585
683 -
756
1,007
- 1,1
2458
7 - 65
064
8 - 70
0
1,171
- 1,3
681,3
50 -
1.709
1,103
- 1,7
521,2
82 -
2,137
HO
TELS
Budg
et ho
tels -
3-sta
r, mi
d mar
ket
Busin
ess h
otels
- 4/5-
star
Luxu
ry ho
tels -
5-sta
r
1,330
- 1,6
20N/
A1,7
25 -
2,000
1,200
- 1,3
701,3
50 -
1,685
1,600
- 2,0
20
745 -
825
1,160
- 1,3
751,4
65 -
1,605
1,186
- 1,4
021,6
20 -
1,750
1,723
- 1,9
43
1,598
- 2,0
262,2
39 -
3,868
2,487
- 3,9
74
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA24
CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES
IND
UST
RIA
LInd
ustria
l unit
s, sh
ell on
ly (C
onve
ntion
al sin
glesto
rey f
rame
d unit
s)Ow
ner o
pera
ted fa
ctorie
s, low
rise,
light
weigh
t ind
ustry
OTH
ERS
Unde
rgro
und/b
asem
ent c
ar pa
rks (<
3 lev
els)
Multi
store
y car
parks
, abo
ve gr
ound
(<4 l
evels
)Sc
hools
(prim
ary a
nd se
cond
ary)
Stud
ents'
resid
ence
sSp
orts
clubs
, mult
i pur
pose
spor
ts/lei
sure
centr
es(d
ry sp
orts)
Gene
ral h
ospit
als -
publi
c sec
tor
Exch
ange
Rate
Use
d : U
S$1 =
305 -
380
360 -
475
605 -
725
385 -
425
505 -
555
505 -
655
755 -
805
N/A
VND
22,60
0
450 -
460
560 -
650
510 -
560
460 -
600
690 -
760
700 -
800
1,200
- 1,4
50
1,350
- 1,5
00
PHP
48.60
310 -
365
330 -
385
260 -
280
200 -
220
250 -
280
280 -
310
550 -
575
600 -
660
INR
66
316 -
343
342 -
377
486 -
597
316 -
343
N/A
N/A
1,064
- 1,5
95
N/A
IDR
13,05
5
641 -
821
N/A
915 -
1,09
456
4 - 77
41,2
82 -
1,538
1,342
- 1,4
62N/
A
N/A
KRW
1,17
0
25CONSTRUCTION COST DATA
(Cont'd)
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls, i
nclu
sive
of p
relim
inar
ies
but e
xclu
sive
of c
ontin
genc
ies.
Ω R
ates
incl
ude
12%
VA
T.
₲
Rat
es a
re b
ased
on
proj
ects
in B
anga
lore
and
are
net
t of V
AT
and
S
ervi
ce T
ax. M
umba
i cos
ts a
re g
ener
ally
8%
hig
her.
$ R
ates
are
net
t of V
AT.
&
Rat
es a
re n
ett o
f VA
T an
d co
ntig
enci
es.
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA26
CONSTRUCTION COSTS FOR SELECTED ASIAN CITIESB
UIL
DIN
G T
YPE
HONG
KO
NG £
BEI
JIN
G +
GU
AN
GZH
OU
/SH
ENZH
EN +
CH
ON
GQ
ING
/C
HEN
GD
U +
SHA
NG
HA
I +
US$
/m2 C
FA
DO
MES
TIC
Apar
tmen
ts, hi
gh ris
e, av
erag
e stan
dard
Apar
tmen
ts, hi
gh ris
e, hig
h end
Terra
ced h
ouse
s, av
erag
e stan
dard
Detac
hed h
ouse
s, hig
h end
3,140
- 3,6
904,2
40 -
4,940
4,310
- 5,0
305,5
80 -
6,350
634 -
704
1,550
- 1,6
9342
5 - 45
463
7 - 70
8
593 -
652
1,482
- 1,6
9043
2 - 50
665
5 - 73
0
491 -
541
816 -
898
370 -
410
507 -
559
445 -
593
786 -
1,02
237
3 - 52
250
6 - 59
6
OFF
ICE/
CO
MM
ERC
IAL
Mediu
m/hig
h rise
offic
es, a
vera
ge st
anda
rdHi
gh ris
e offic
es, p
resti
ge qu
ality
Out-o
f-tow
n sho
pping
centr
e, av
erag
e stan
dard
Retai
l mall
s, hig
h end
3,080
- 3,6
503,8
20 -
4,710
3,140
- 3,6
904,1
80 -
4,960
845 -
1,12
71,1
27 -
1,409
N/A
1,198
- 1,5
49
845 -
1,14
21,1
42 -
1,882
655 -
879
1,171
- 1,6
15
712 -
789
982 -
1,08
668
3 - 75
21,0
03 -
1,108
742 -
889
963 -
1,33
559
6 - 78
996
3 - 1,
364
HO
TELS
Budg
et ho
tels -
3-sta
r, mi
d mar
ket
Busin
ess h
otels
- 4/5-
star
Luxu
ry ho
tels -
5-sta
r
4,010
- 4,3
304,2
10 -
4,970
4,920
- 5,7
10
916 -
1,12
71,5
49 -
2,112
2,112
- 2,5
35
948 -
1,17
11,6
15 -
2,060
2,060
- 2,6
53
923 -
1,01
91,4
91 -
1,647
2,034
- 2,2
46
885 -
1,10
61,5
49 -
1,991
N/A
27CONSTRUCTION COST DATA
(Cont'd)
IND
UST
RIA
LInd
ustria
l unit
s, sh
ell on
ly (C
onve
ntion
al sin
glesto
rey f
rame
d unit
s)Ow
ner o
pera
ted fa
ctorie
s, low
rise,
light
weigh
t ind
ustry
OTH
ERS
Unde
rgro
und/b
asem
ent c
ar pa
rks (<
3 lev
els)
Multi
store
y car
parks
, abo
ve gr
ound
(<4 l
evels
)Sc
hools
(prim
ary a
nd se
cond
ary)
Stud
ents'
resid
ence
sSp
orts
clubs
, mult
i pur
pose
spor
ts/lei
sure
centr
es(d
ry sp
orts)
Gene
ral h
ospit
als -
publi
c sec
tor
Exch
ange
Rate
Use
d : U
S$1 =
N/A
2,410
- 3,0
60
2,370
- 2,9
501,4
70 -
1,730
2,590
- 2,8
102,5
40 -
2,950
3,970
- 4,4
90
5,130
- 5,8
30
HK$ 7
.80
491 -
560
N/A
708 -
993
353 -
496
496 -
637
353 -
496
916 -
1,12
7
1,409
- 1,8
30
RMB
6.78
506 -
581
N/A
730 -
804
432 -
506
506 -
655
357 -
506
875 -
1,17
1
1,171
- 1,4
68
RMB
6.78
466 -
513
N/A
471 -
754
336 -
370
373 -
413
239 -
264
695 -
768
N/A
RMB
6.78
417 -
522
N/A
N/A
268 -
342
N/A
N/A
N/A
N/A
RMB
6.78
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls, i
nclu
sive
of p
relim
inar
ies
but e
xclu
sive
of c
ontin
genc
ies.
£ O
ffice
s of
ave
rage
sta
ndar
d ar
e bu
ilt to
the
follo
win
g pr
ovis
ions
:
(i
) C
urta
in w
all/w
indo
w w
all f
acad
e
(i
i) Te
nant
are
as in
clud
e sc
reed
ed fl
oor,
pain
ted
wal
l and
cei
ling
S
choo
ls (p
rimar
y an
d se
cond
ary)
are
of p
ublic
aut
horit
y st
anda
rd,
no
a/c
and
com
plet
e w
ith b
asic
ext
erna
l wor
ks.
+ H
ouse
s ar
e bu
ilt to
she
ll an
d co
re s
tand
ard
ON
LY, w
here
all
te
nant
or o
ccup
ant a
reas
are
unf
urni
shed
.
Sch
ools
(prim
ary
and
seco
ndar
y) a
re o
f pub
lic a
utho
rity
stan
dard
,
no a
/c a
nd c
ompl
ete
with
bas
ic e
xter
nal w
orks
.
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA28
CONSTRUCTION COSTS FOR SELECTED ASIAN CITIESB
UIL
DIN
G T
YPE
MAC
AU Ђ
BRUN
EIBA
NGKO
K œ
KUAL
ALU
MPU
R S
ING
APO
RE ♣
US$
/m2 C
FA
DO
MES
TIC
Apar
tmen
ts, hi
gh ris
e, av
erag
e stan
dard
Apar
tmen
ts, hi
gh ris
e, hig
h end
Terra
ced h
ouse
s, av
erag
e stan
dard
Detac
hed h
ouse
s, hig
h end
2,143
- 2,6
323,0
08 -
4,586
3,672
- 4,3
734,4
61 -
5,802
1,320
- 1,5
002,0
35 -
3,035
1,715
- 1,9
302,1
80 -
2,895
340 -
475
715 -
855
205 -
295
695 -
860
805 -
1,10
599
4 - 1,
294
520 -
821
792 -
1,09
2
614 -
742
913 -
1,08
542
8 - 51
474
2 - 89
9
OFF
ICE/
CO
MM
ERC
IAL
Mediu
m/hig
h rise
offic
es, a
vera
ge st
anda
rdHi
gh ris
e offic
es, p
resti
ge qu
ality
Out-o
f-tow
n sho
pping
centr
e, av
erag
e stan
dard
Retai
l mall
s, hig
h end
2,481
- 3,1
953,1
95 -
3,496
2,331
- 3,4
963,6
72 -
4,398
1,715
- 1,9
301,9
30 -
2,110
1,930
- 2,0
352,0
35 -
2,250
560 -
650
805 -
1,10
049
5 - 59
562
5 - 79
5
805 -
1,10
51,1
38 -
1,438
781 -
1,08
11,0
30 -
1,330
599 -
742
785 -
999
585 -
756
785 -
813
HO
TELS
Budg
et ho
tels -
3-sta
r, mi
d mar
ket
Busin
ess h
otels
- 4/5-
star
Luxu
ry ho
tels -
5-sta
r
3,258
- 3,6
844,4
24 -
5,288
5,288
- 6,2
53
2,145
- 2,3
602,7
50 -
3,110
2,750
- 3,1
10
935 -
1,30
51,6
15 -
1,890
1,800
- 2,0
95
1,521
- 1,8
212,1
46 -
2,446
2,203
- 2,5
03
1,071
- 1,1
841,3
70 -
1,570
1,598
- 1,7
12
♠ ♠
29CONSTRUCTION COST DATA
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls, i
nclu
sive
of p
relim
inar
ies
but e
xclu
sive
of c
ontin
genc
ies.
Ђ R
ates
are
exc
lusi
ve o
f any
man
agem
ent c
ontra
ct fe
e.♣
Rat
es a
re n
ett o
f GS
T.♠
Incl
udes
rais
ed fl
oor a
nd c
eilin
g to
tena
nted
are
as b
ut
excl
udes
offi
ce c
arpe
ts (n
orm
ally
und
er te
nant
’s fi
t-out
).♥
Ope
n on
all
side
s w
ith p
arap
et.
6 - 1
2 un
its p
er fl
oor,
46m
2 - 8
3m2 p
er u
nit,
excl
ude
air-
cond
ition
ing
equi
pmen
t.
Te
rrac
ed h
ouse
s ex
clud
e ai
r-co
nditi
onin
g.
O
ffice
s ar
e av
erag
e st
anda
rd a
nd e
xclu
de te
nant
fito
ut.
Sch
ools
(prim
ary
and
seco
ndar
y) a
re s
tand
ard
gove
rnem
ent p
rovi
sion
s.♦
Stu
dent
host
els
to u
nive
rsity
sta
ndar
d.œ
Rat
es e
xclu
de V
AT.
IND
UST
RIA
LInd
ustria
l unit
s, sh
ell on
ly (C
onve
ntion
al sin
glesto
rey f
rame
d unit
s)Ow
ner o
pera
ted fa
ctorie
s, low
rise,
light
weigh
t ind
ustry
OTH
ERS
Unde
rgro
und/b
asem
ent c
ar pa
rks (<
3 lev
els)
Multi
store
y car
parks
, abo
ve gr
ound
(<4 l
evels
)Sc
hools
(prim
ary a
nd se
cond
ary)
Stud
ents'
resid
ence
sSp
orts
clubs
, mult
i pur
pose
spor
ts/lei
sure
centr
es(d
ry sp
orts)
Gene
ral h
ospit
als -
publi
c sec
tor
Exch
ange
Rate
Use
d : U
S$1 =
N/A
N/A
1,930
- 2,8
451,0
65 -
1,404
2,130
- 2,4
811,7
04 -
1,967
N/A
N/A
MOP
7.98
715 -
930
N/A
930 -
1,25
064
5 - 93
0N/
A1,5
70 -
1,715
1,965
- 2,1
10
2,750
- 2,8
95
S$ 1.
40
300 -
375
400 -
455
335 -
460
210 -
255
235 -
270
275 -
305
540 -
625
805 -
1,00
0
RM 4.
41
371 -
672
505 -
806
N/A
412 -
713
603 -
904
706 -
1,00
61,6
23 -
1,924
1,824
- 2,1
25
B$ 1.
36
457 -
571
N/A
514 -
671
171 -
274
N/A
N/A
N/A
N/A
THB
35.04
♥ ♦
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA30
M&E COSTS FOR SELECTED ASIAN CITIESB
UIL
DIN
G T
YPE
VND/
m2 C
FAPH
P/m
2 CFA
INR/
m2 C
FAID
R/m
2 CFA
KRW
/m2 C
FA
HO C
HI M
INH
MAN
ILA
ΩIN
DIA
₲JA
KART
A #
SEO
UL $
MEC
HA
NIC
AL
SER
VIC
ESOf
fices
Indus
trial *
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
1,729
,000 -
2,46
5,000
N/A N/A N/A1,3
82,00
0 - 1,
893,0
00
4,450
- 6,30
02,0
50 - 3
,650
5,450
- 5,95
04,2
50 - 5
,565
2,430
- 3,00
0
3,000
- 5,00
070
0 - 1,
500
3,000
- 6,50
02,5
00 - 4
,500
700 -
3,00
0
995,0
00 - 1
,130,0
0029
5,000
- 695
,000
990,0
00 - 1
,285,0
0084
0,000
- 1,01
5,000
935,0
00 - 1
,100,0
00
247,0
00 - 3
20,00
010
2,000
- 177
,000
239,0
00 - 3
75,00
016
6,000
- 273
,000
106,0
00 - 1
93,00
0
ELEC
TRIC
AL
SER
VIC
ESOf
fices
Indus
trial *
*Ho
tels
Shop
ping C
entre
sAp
artm
ent
2,034
,000 -
2,42
6,000
N/A N/A N/A1,7
94,00
0 - 2,
266,0
00
3,915
- 5,40
52,3
15 - 3
,850
4,375
- 5,95
53,7
55 - 5
,020
1,900
- 2,60
0
3,300
- 6,50
02,0
00 - 3
,500
4,700
- 9,20
03,6
00 - 6
,000
3,600
- 6,30
0
770,0
00 - 1
,035,0
0044
0,000
- 685
,000
800,0
00 - 1
,100,0
0067
5,000
- 850
,000
880,0
00 - 1
,030,0
00
210,0
00 - 3
95,00
013
0,000
- 190
,000
300,0
00 - 4
90,00
018
0,000
- 262
,000
140,0
00 - 1
89,00
0
HYD
RA
ULI
C S
ERVI
CES
Offic
esInd
ustria
l28
1,000
- 535
,000
N/A69
0 - 1,
045
470 -
825
900 -
2,20
070
0 - 1,
300
185,0
00 - 2
85,00
011
0,000
- 200
,000
39,00
0 - 64
,000
25,00
0 - 36
,000
31CONSTRUCTION COST DATA
(Cont'd)
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
FIR
E SE
RVI
CES
Offic
es
Indus
trial
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
LIFT
S/ES
CA
LATO
RS
Offic
es
Indus
trial
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
N/A N/A54
7,000
- 648
,000
632,0
00 - 1
,049,0
00N/A N/A N/A
434,0
00 - 5
45,00
0
605,0
00 - 1
,154,0
00N/A N/A
1,231
,000 -
1,74
3,000
687,0
00 - 9
94,00
0
1,950
- 4,00
070
0 - 1,
600
1,400
- 2,70
0
700 -
1,30
065
0 - 90
070
0 - 1,
200
700 -
1,30
065
0 - 1,
300
1,600
- 3,50
0N/
A1,8
00 - 3
,300
700 -
2,00
080
0 - 2,
100
3,585
- 5,40
01,0
20 - 1
,845
1,615
- 2,23
5
1,095
- 1,43
052
5 - 69
01,2
75 - 1
,630
1,050
- 1,21
058
0 - 69
5
910 -
1,16
059
0 - 76
01,3
25 - 1
,925
1,545
- 1,99
082
5 - 1,
050
935,0
00 - 1
,100,0
0018
5,000
- 285
,000
935,0
00 - 1
,100,0
00
255,0
00 - 3
85,00
011
0,000
- 200
,000
310,0
00 - 3
85,00
026
0,000
- 305
,000
285,0
00 - 3
10,00
0
410,0
00 - 1
,110,0
00N/
A66
0,000
- 1,03
0,000
305,0
00 - 8
20,00
066
0,000
- 825
,000
80,00
0 - 12
3,000
32,00
0 - 64
,000
55,00
0 - 84
,000
36,00
0 - 70
,000
27,00
0 - 42
,000
41,00
0 - 91
,000
28,00
0 - 76
,000
39,00
0 - 74
,000
42,00
0 - 67
,000
16,00
0 - 26
,000
100,0
00 - 1
75,00
048
,000 -
84,00
029
,000 -
41,00
0
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls, e
xclu
sive
of c
ontin
genc
ies.
* G
ener
ally
with
out A
/C.
** E
xclu
des
spec
ial p
ower
sup
ply.
₲ R
ates
are
bas
ed o
n pr
ojec
ts in
Ban
galo
re a
nd
are
nett
of V
AT
and
Ser
vice
Tax
. Mum
bai c
osts
ar
e ge
nera
lly 8
% h
ighe
r.
Ω T
rans
form
er, i
nclu
ded
in E
lect
rical
Ser
vice
s.#
All
rate
s ar
e ne
tt of
VA
T. R
ates
for E
lect
rical
Ser
vice
s ar
e ex
clud
ing
gens
et.
R
ates
for H
ydra
ulic
Ser
vice
s ar
e ex
clud
ing
STP
.
Rat
es fo
r Mec
hani
cal S
ervi
ces
refe
rs to
AC
MV
Rat
es o
nly.
$ R
ates
are
net
t of V
AT.
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA32
M&E COSTS FOR SELECTED ASIAN CITIESB
UIL
DIN
G T
YPE
HK$/
m2 C
FARM
B/m
2 CFA
RMB/
m2 C
FARM
B/m
2 CFA
RMB/
m2 C
FA
HONG
KO
NGSH
ANG
HAI
BEIJ
ING
GUA
NGZH
OU/
SHEN
ZHEN
CHO
NGQ
ING
/CH
ENG
DU
MEC
HA
NIC
AL
SER
VIC
ESOf
fices
Indus
trial *
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
2,000
- 2,8
0020
0 - 30
02,2
00 -
2,750
2,300
- 2,8
5085
0 - 1,
750
760 -
1,05
017
0 - 28
091
0 - 1,
150
790 -
950
140 -
410
761 -
966
173 -
289
971 -
1,26
51,0
50 -
1,103
310 -
410
765 -
1,04
015
0 - 26
81,0
71 -
1,339
707 -
954
122 -
380
680 -
980
130 -
220
720 -
1,15
058
0 - 98
090
- 28
0
ELEC
TRIC
AL
SER
VIC
ESOf
fices
Indus
trial *
*Ho
tels
Shop
ping C
entre
sAp
artm
ent
1,750
- 2,5
0065
0 - 90
01,9
00 -
2,600
1,900
- 2,5
001,1
00 -
1,750
460 -
703
320 -
450
705 -
943
481 -
676
253 -
398
593 -
651
305 -
431
651 -
830
520 -
651
252 -
368
530 -
765
306 -
445
680 -
916
483 -
653
278 -
445
420 -
650
250 -
350
500 -
750
400 -
650
220 -
330
HYD
RA
ULI
C S
ERVI
CES
Offic
esInd
ustria
l70
0 - 90
050
0 - 70
095
- 14
095
- 14
011
0 - 16
389
- 13
112
2 - 16
686
- 11
260
- 12
060
- 12
0
33CONSTRUCTION COST DATA
(Cont'd)
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
FIR
E SE
RVI
CES
Offic
es
Indus
trial
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
LIFT
S/ES
CA
LATO
RS
Offic
es
Indus
trial
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
2,000
- 3,0
0070
0 - 90
01,5
00 -
2,400
550 -
700
400 -
500
600 -
850
550 -
700
200 -
450
700 -
1,20
055
0 - 75
055
0 - 85
085
0 - 1,
000
450 -
850
368 -
488
137 -
184
168 -
226
220 -
300
150 -
250
280 -
380
250 -
380
50 -
100
280 -
550
135 -
390
220 -
495
325 -
495
165 -
325
370 -
480
140 -
200
170 -
230
180 -
265
150 -
225
220 -
375
220 -
375
70 -
135
294 -
577
145 -
400
232 -
520
327 -
520
175 -
289
391 -
493
112 -
150
145 -
257
224 -
348
139 -
267
278 -
413
247 -
370
64 -
122
294 -
481
150 -
434
241 -
465
326 -
460
122 -
268
280 -
350
60 -
120
100 -
180
160 -
230
130 -
230
180 -
300
200 -
300
45 -
90
330 -
580
140 -
340
280 -
480
280 -
430
130 -
230
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls, e
xclu
sive
of c
ontin
genc
ies.
* G
ener
ally
with
out A
/C.
** E
xclu
des
spec
ial p
ower
sup
ply.
AR
CA
DIS
VIE
TNA
M C
O.,
LTD
1 CONSTRUCTION COST DATA
CONSTRUCTION COST DATA34
M&E COSTS FOR SELECTED ASIAN CITIESB
UIL
DIN
G T
YPE
MO
P/m
2 CFA
S$/m
2 CFA
RM/m
2 CFA
B$/m
2 CFA
THB/
m2 C
FA
MA
CAU
SIN
GAP
ORE
♣BR
UNEI
BAN
GKO
K ⱷ
KUAL
ALU
MPU
R
MEC
HA
NIC
AL
SER
VIC
ESOf
fices
Indus
trial *
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
N/A
N/A
2,600
- 3,0
002,2
00 -
2,800
900 -
1,10
0
360 -
520
85 -
190
300 -
585
320 -
510
195 -
285
160 -
262
35 -
123
135 -
292
154 -
258
94 -
178
179 -
224
23 -
3928
9 - 33
320
5 - 24
421
2 - 24
4
4,400
- 4,8
001,5
50 -
1,600
4,600
- 5,1
004,4
00 -
4,800
4,400
- 4,5
00
ELEC
TRIC
AL
SER
VIC
ESOf
fices
Indus
trial *
*Ho
tels
Shop
ping C
entre
sAp
artm
ent
N/A
N/A
2,600
- 3,1
002,6
00 -
2,800
1,000
- 1,3
00
310 -
515
144 -
190
285 -
600
310 -
500
105 -
220
166 -
269
55 -
142
190 -
372
167 -
319
102 -
238
231 -
289
192 -
231
289 -
377
377 -
314
249 -
314
3,400
- 3,8
001,9
50 -
2,200
3,800
- 4,5
002,8
00 -
3,200
2,800
- 3,3
50
HYD
RA
ULI
C S
ERVI
CES
Offic
esInd
ustria
lN/
AN/
A26
- 60
37 -
4628
- 57
19 -
3816
- 39
11 -
1979
0 - 91
075
0 - 79
0
35CONSTRUCTION COST DATA
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
FIR
E SE
RVI
CES
Offic
es
Indus
trial
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
LIFT
S/ES
CA
LATO
RS
Offic
es
Indus
trial
Hotel
sSh
oppin
g Cen
tres
Apar
tmen
t
1,800
- 2,2
0060
0 - 80
01,5
00 -
2,000
N/A
N/A
900 -
1,10
060
0 - 80
025
0 - 30
0
N/A
N/A
600 -
800
450 -
700
450 -
600
95 -
181
48 -
8576
- 14
8
34 -
5824
- 53
29 -
5838
- 58
25 -
52
66 -
171
43 -
109
52 -
114
58 -
9543
- 11
9
180 -
250
26 -
3520
- 50
60 -
8045
- 65
65 -
9565
- 85
20 -
30
95 -
400
55 -
190
85 -
370
85 -
110
63 -
105
60 -
8312
- 41
38 -
59
32 -
3912
- 19
26 -
4932
- 65
26 -
51
9 - 32
4 - 19
12 -
4512
- 36
11 -
26
1,400
- 1,6
5079
0 - 95
01,2
00 -
1,400
780 -
850
730 -
750
780 -
890
780 -
820
720 -
850
1,100
- 1,3
50N/
A1,1
00 -
1,400
250 -
450
500 -
580
The
abov
e co
sts
are
at 4
th Q
uart
er 2
016
leve
ls, e
xclu
sive
of c
ontin
genc
ies.
* G
ener
ally
with
out A
/C.
** E
xclu
des
spec
ial p
ower
sup
ply.
♣ R
ates
are
net
t of G
ST
and
excl
udin
g B
AS
.ⱷ
B
ased
upo
n ne
tt en
clos
ed a
rea
and
nett
of V
AT.
CITYEXCHANGE
RATEELECTRICITY
DOMESTIC COMMERCIAL/INDUSTRIAL
US$1= US$/kWh US$/kWh
VND 22,600 0.11Ho Chi Minh 0.10 - 0.17 /0.06 - 0.11
Bangalore INR 66.00 0.042 - 0.098 0.117 - 0.122
New Delhi INR 66.00 0.061 - 0.128 0.137 - 0.158
Seoul KRW 1,170 0.05 - 0.16 0.06 - 0.09
Singapore
Kuala Lumpur
Bangkok
Manila
Brunei
Jakarta
S$ 1.40
RM 4.41
THB 35.04
PHP 48.60
B$ 1.39
IDR 13,055
0.14
0.049 - 0.13
0.053 - 0.112
0.21 - 0.22
0.009 - 0.13
0.112
0.14
0.086 - 0.10
0.076 - 0.078
0.21
0.065 - 0.182
0.112
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CONSTRUCTION COST DATA36
UTILITY COSTS FOR SELECTED ASIAN CITIES
The above costs are at 4th Quarter 2016 levels.
Basis of Charges in Singapore (All rates are nett of GST) Electricity tariff is based on low tension power supply. Domestic water rate includes water conservation tax and water-borne fee and is an average for the 1st 40m3, exclude sanitary appliance fee. Non-domestic water rate includes water conservation tax and water-borne fee, exclude sanitary appliance fee. Unleaded fuel rate is for 98 Unleaded petrol as at 7 November 2016. Diesel fuel rate as at 7 November 2016.
Basis of Charges in Kuala Lumpur, Malaysia Unleaded fuel rate is for Unleaded petrol Ron 95.
Basis of Charges in Bangkok, Thailand Electricity (Domestic) = For normal tariff with consumption not exceeding 150kWh per month Fuel (Unleaded) = Gasohol 95
Basis of Charges in Brunei Electricity (Domestic) : Tariff effective from 1st Jan 2012. 1-10 kWh 10c, 11-60 kWh 8c, 61-100kWh 12c, above 100kWh 15c
Basis of Charges in Ho Chi Minh, Vietnam (All rates are VAT inclusive) Electricity : Domestic electricity rates are applied to the 301 KW above wards Fuel : Diesel fuel D.O - 0.05% : 92 and 95 Unleaded petrol as at October 2012.
37CONSTRUCTION COST DATA
Basis of Charges in Manila, PhilippinesWater and Electricity actual billing includes miscellaneous charges such as Environmental Charge, Currency Exchange Rate Adjustment (CERA), VAT, etc. Electricity Domestic : 190kWh - 860kWh Commercial/Industrial : 150,000kWh Water Domestic : 29m3 - 41m3/month Commercial/Industrial : 4,030m3/month
Basis of Charges in Seoul, Korea Electricity (Plus electricity basic rates) Domestic = US$1.37/month (basic rate) + US$0.05/kWh ~ 0.16/kWh (300kWh below in use) Commercial = US$5.27/month (basic rate) + US$0.06/kWh ~ 0.09/kWh (300kWh below in use) Water (Plus water basic rates) Domestic = US$0.95/month (basic rate, the usage of 15mm caliber) + US$0.32/m3 + Tax (within 30m3 usage) Commercial = US$77.92/month (basic rate, the usage of 100mm caliber) + US$0.69/m3 + Tax (within 100m3 usage)
0.23 - 0.51
0.394 - 0.682
0.284 - 1.021
0.31 - 0.67
1.29
0.234 - 0.454
0.243 - 0.412
0.48 - 0.80
0.099 - 0.398
0.080 - 0.571
0.76 / 0.43
1.338
1.298 - 5.797
0.67 - 1.08
1.49
0.469 - 0.517
0.271- 0.451
1.47
0.552 - 0.596
0.522 - 1.122
0.56
0.915
0.856
1.04
0.86
0.431
0.685
0.60
0.343
0.517
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.461
N/A
0.73 - 0.77
1.101
1.026
1.22
1.60
0.442
0.721
0.90
0.479
0.563
WATER FUEL
DOMESTIC COMMERCIAL/INDUSTRIAL DIESEL LEADED UNLEADED
US$/m3 US$/m3 US$/litre US$/litre US$/litre
(Cont'd)
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CONSTRUCTION COST DATA38
The above costs are at 4th Quarter 2016 levels.
Basis of Charges in Hong Kong, China Electricity (Based on tariff scheme of CLP Holdings Limited) Domestic (bi-monthly consumption) : 0 - 400kWh = US$ 0.11/kWh; 400 - 1,000kWh = US$ 0.12/kWh; 1,000 - 1,800kWh = US$ 0.14/kWh; 1,800 - 2,600kWh = US$ 0.18/kWh; 2,600 - 3,400kWh = US$ 0.21/kWh; 3,400 - 4,200kWh = US$ 0.23/kWh; Above 4,200kWh = US$ 0.23/kWh Water Domestic : 0 - 12m3 = Free of charge; 12 - 43m3 = US$ 0.53/m3; 43 - 62m3 = US$ 0.83/m3; Above 62m3 = US$ 1.16/m3
Basis of Charges in Macau, China Electricity Electricity tariffs are a composition of demand charges, consumption charges, fuel clause adjustment and government tax. Water Domestic : Consumption charge = US$ 0.56/m3 for 28m3 or below; US$0.65/m3
for 29m3 to 60m3; US$0.76/m3 for 61m3 to 79m3 and US$0.91/m3
for 80m3 or above. Other charges (Depending on meter size 15mm - 200mm) : Meter rental = US$0.34 - 58.00/month Commercial/ Industrial : Charges for ordinary users (e.g. Business, government buildings, schools, associations, hospitals and others) only. Special users (e.g. gaming industries, hotels, saunas, golf courses, construction, public infrastructure and other temporary consumption) are excluded.
CITYEXCHANGE
RATEELECTRICITY
DOMESTIC COMMERCIAL/INDUSTRIAL
US$1= US$/kWh US$/kWh
HK$ 7.80 0.11 0.13Hong Kong
Macau
Shanghai
Beijing
Guangzhou
Chongqing
MOP7.98
RMB 6.78
RMB 6.78
RMB 6.78
RMB 6.78
0.16
0.07
0.10
0.09
0.16
0.16 / 0.11
0.12
0.091(peak) /0.045(normal)
0.162(peak) /0.080(normal)
0.24(peak) /0.13(normal)
UTILITY COSTS FOR SELECTED ASIAN CITIES
39CONSTRUCTION COST DATA
Basis of Charges in Hong Kong, China Electricity Domestic (Charge on yearly consumption) : 0 - 3,120kWh = US$ 0.091/kWh (peak) / US$ 0.045/kWh (normal); 3,120 - 4,800kWh = US$ 0.10/kWh (peak) / US$ 0.049/kWh (normal); Above 4,800kWh = US$ 0.144/kWh (peak) / US$ 0.072/kWh (normal) Commercial/Industrial (Charge on yearly consumption) : Charges on consumption less than 1,000kWh per month for summer period only. Refer to www.shdrc.gov.cn for detailed charges for different tiers and charges for non-summer period. Water Domestic : 0 - 220m3 = US$ 0.51/m3; 220 - 300m3 = US$ 0.71/m3; Above 300m3 = US$ 0.86/m3
Unleaded Fuel = Unleaded fuel rate is for Unleaded 95#
Basis of Charges in Beijing and Guangzhou, China Unleaded fuel rate is for Unleaded gasoline 97.
Basis of Charges in Chongqing, China Unleaded Fuel 93# = US$0.91/litre; 97# = US$0.96/litre
0.83
0.56 - 0.91
0.51 - 0.86
0.73 - 1.33
0.31
0.41
0.59
0.76
0.73
1.20
0.54
0.68
1.44
1.35
0.85
0.86
0.85
0.85
N/A
N/A
N/A
N/A
N/A
N/A
1.87
1.21
0.97
0.92
0.99
0.91 / 0.96
WATER FUEL
DOMESTIC COMMERCIAL/INDUSTRIAL DIESEL LEADED UNLEADED
US$/m3 US$/m3 US$/litre US$/litre US$/litre
GENERAL CONSTRUCTION DATA2Material Price Indices
Import Duties
Progress Payments
Estimating Rules of Thumb
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GENERAL CONSTRUCTION DATA42
MATERIAL PRICE INDICESYe
ar
2010
I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV
12,4
52,5
0011
,590
,000
12,8
30,0
0013
,440
,000
15,0
30,0
0014
,730
,000
15,9
25,0
0015
,925
,000
15,9
25,0
0015
,925
,000
16,3
20,0
0016
,320
,000
16,3
20,0
0015
,170
,000
15,1
70,0
0014
,470
,000
14,4
70,0
0014
,470
,000
14,4
70,0
0014
,470
,000
14,3
50,0
0014
,350
,000
14,2
00,0
0014
,200
,000
13,1
00,0
0013
,100
,000
13,1
00,0
0013
,100
,000
100
.00
93.
07 1
03.0
3 1
07.9
3 1
20.7
0 1
18.2
9 1
27.8
9 1
27.8
9 1
27.8
9 1
27.8
9 1
31.0
6 1
31.0
6 1
31.0
6 1
21.8
2 1
21.8
2 1
16.2
0 1
16.2
0 1
16.2
0 1
16.2
0 1
16.2
0 1
15.2
4 1
15.2
4 1
14.0
3 1
14.0
3 1
05.2
0 1
05.2
0 1
05.2
0 1
05.2
0
0.00
%-6
.93%
10.7
0%4.
75%
11.8
3%-2
.00%
8.11
%0.
00%
0.00
%0.
00%
2.48
%0.
00%
0.00
%-7
.05%
0.00
%-4
.61%
0.00
%0.
00%
0.00
%0.
00%
-0.8
3%0.
00%
-1.0
5%0.
00%
-7.7
5%0.
00%
0.00
%0.
00%
879,
819
879,
819
879,
819
879,
819
879,
819
879,
819
970,
000
970,
000
945,
000
945,
000
1,12
7,27
21,
109,
000
1,10
9,09
01,
109,
090
1,10
9,09
01,
109,
090
1,10
9,09
01,
109,
090
1,10
9,09
01,
109,
090
1,10
9,09
01,
109,
090
1,10
9,09
01,
109,
090
1,03
6,00
01,
055,
000
1,05
5,00
01,
055,
000
100
.00
100
.00
100
.00
100
.00
100
.00
100
.00
110
.25
110
.25
107
.41
107
.41
128
.13
126
.05
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
126
.06
117
.75
119
.91
119
.91
119
.91
0.00
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
10.2
5%0.
00%
-2.5
8%0.
00%
19.2
9%-1
.62%
0.01
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
-6.5
9%1.
83%
0.00
%0.
00%
1,25
51,
218
1,20
91,
209
1,24
11,
263
1,45
91,
459
1,45
91,
546
1,60
01,
600
1,60
01,
600
1,60
01,
600
1,60
01,
600
1,60
01,
600
1,50
41,
550
1,55
01,
550
1,55
01,
523
1,52
31,
523
100
.00
97.
05 9
6.33
96.
33 9
8.88
100
.64
116
.25
116
.25
116
.25
123
.19
127
.49
127
.49
127
.49
127
.49
127
.49
127
.49
127
.49
127
.49
127
.49
127
.49
119
.84
123
.51
123
.51
123
.51
123
.51
121
.35
121
.35
121
.35
0.00
%-2
.95%
-0.7
4%0.
00%
2.65
%1.
77%
15.5
2%0.
00%
0.00
%5.
96%
3.49
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
0.00
%0.
00%
-6.0
0%3.
06%
0.00
%0.
00%
0.00
%-1
.74%
0.00
%0.
00%
2011
2012
2013
2014
2015
2016
Qua
rter
Stee
lbar
(D12
-D25
)
VND
/TIn
flatio
nIn
flatio
nVN
D/k
gIn
flatio
nVN
D/m
3In
dex
(Bas
e Q
I/201
0)In
dex
(Bas
e Q
I/201
0)In
dex
(Bas
e Q
I/201
0)
Con
cret
e (G
rade
250
)C
emen
t (PC
B40
)
43GENERAL CONSTRUCTION DATA
Ste
elba
r (D
12-D
25)
Con
cret
e (G
rade
250
)C
emen
t (P
CB
40)
250
230
210
190
170
150
130
110 90 70 50
2010
2011
2012
2013
2014
2015
2016
III
IIIIV
III
IIIIV
III
IIIIV
III
IIIIV
III
IIIIV
III
IIIIV
III
IIIIV
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GENERAL CONSTRUCTION DATA44
IMPORT DUTIES
Marble
Granite
Carpentry of Wood
Porland cement
Ceramic roofing tiles
Glass mirror (unframed)
Concrete steel
Passenger lifts
Water pump
Electric genset
Ceramic building bricks,flooring blocks
Ceramic floor, hearth, walltiles
Ceramic sanitary fixturesof porcelain
Multiple-walled insulatingunits of glass
U,I or H section of steel(height under 80mm)
Alluminium doors, windows,frames and thresholds
Air conditioner (window orwall mounted) notexceeding 26,38 kW
DESCRIPTION(ALL FIGURES) UNIT
MFN
/WTO
ATI
GA
VCFT
A
AC
FTA
Non
-AC
FTA
AK
FTA
Non
-AK
FTA
VKFT
A
AJC
EP
VJEP
A
AA
NZF
TA
AIF
TA
SPECIAL TARIFF
VAT
TAR
IFF
kg
kg
kg
kg
kg
kg
kg
unit
unit
unit
1000unit
m2
kg
m2
kg
m2
unit
12
12
3
37
45
25
15
10
20
20
35
45
35
25
15
15
30
0
0
0
5
5
5
5
0
0
5
5
0
5
0
5
0
5
15
15
5
26
46
20
-
7
19
19
25
48
36
18
37
12
26
0
5
0
20
20
*
15
0
0
12
20
*
15
0
15
0
15
(1)
(3)
-
-
-
-(6)
(8)
-(1)
-
-
(5)
-
-
-
(7)
0
0
0
*
0
*
*
5
*
*
10
0
10
*
*
5
*
(2)
(2)
-
-
-
-
-
(8)
-
-
-
(4)
(4)
-
-
-
-
10
0
0
35
0
25
-
5
20
20
10
0
10
25
10
5
27
14
13
5
*
25
30
3
3
15
30
20
25
26
30
11
5
11
16
14
2
*
28
30
0
4
17
30
22.5
28
29
30
5
6.5
9
10
7
0
7
7
7
10
0
7
7
7
7
7
7
*
5
7
10
10
2
*
25
*
*
5
26.5
*
22.5
25
25
*
*
11
26.5
10
10
10
10
10
10
10
10
10
10
10
10
10
10
-
10
10
MFN/WTO : Most-Favored-Nation/World Trade Organisation Normal Tax Rate = Favoured Tax Rate x 150%ATIGA : ASEAN Trade In Goods Agreement/ ASEAN free trade areaVCFTA : Vietnam-Chile Free Trade AgreementACFTA : ASEAN-China Free Trade AgreementAKFTA : ASEAN-Korea Free Trade AgreementVKFTA : Viet Nam-Korea Free Trade AgreementAJCEP : ASEAN-Japan Comprehensive Economic PartnershipVJEPA : Vietnam-Japan Economic Partnership AgreementAANZFTA : Australia-ASEAN-New Zealand Free Trade AgreementAIFTA : ASEAN-India Free Trade Agreement
(1): Cambodia, Thailand(2): Thailand(3): Cambodia, Indonesia, Thailand(4): Myanmar(5): Cambodia, Indonesia, Malaysia(6): Cambodia, Lao, Malaysia, Thailand(7): Brunei, Cambodia, Philippines, Thailand(8): Malaysia, Thailand
When the MFN duty rate of a goods item specified in the preferential import table of rates is lower than the particularly preferential tax rate specified in Vietnam's particularly preferential import table of rates applicable to each trade agreement promulgated under the Finance Minister's decision, the import duty rate applicable to this goods item is the MFN tax rate.Symbol in AKFTA column: Goods made in Khai Thanh Industrial Zone of North Korea (GIC Items).Imported goods are not received special preferential tariffs at the corresponding time.
(*)
(*)
(*)
45GENERAL CONSTRUCTION DATA
PROGRESS PAYMENTS
The following graph and table are an indication of the rate of expenditure for construction projects.
The rate of expenditure is an average rate and will
circumstances are taken into account.
No account has been made for retention.
Progress Claims
0%
20%
40%
60%
80%
100%
0% 20% 40% 60% 80% 100%
Project Period
CONTRACT
CUMMULATIVE PROGRESS
CLAIMS
CONTRACT PERIOD
CUMMULATIVE PROGRESS
CLAIMS
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GENERAL CONSTRUCTION DATA46
ESTIMATING RULES OF THUMB
Structural Design - Concrete Ratios
The following is a range of concrete ratios for building superstructure design in Viet Nam.
Concrete/floor area 0.4 m3/m2 to 0.5 m3/m2
Formwork/floor area 2.2 m2/m2 to 3.0 m2/m2
Reinforcement 160 kg/m3 to 250 kg/m3
Average External Wall/Floor Ratio
Residential Apartments 1.0 m2/m2
Office 0.4 m2/m2
Hotel 0.4 m2/m2
Average Internal Wall/Floor Ratio
Residential Apartments 1.0 m2/m2
Office 0.5 m2/m2
Hotel 1.5 m2/m2
Air - Conditioning
Average 0.065 RT/m2 of floor area
Average Lighting Level
Building Type LuxResidential 300Office 500Retail 400-500Hotel 250-300School 300-450
Average Power Density
Building Type VA/m2 CFAResidential 80-100Office 120-150Retail 150-200Hotel - Accommodation 120Hotel - F&B Area 150School 45-60
Average Cooling Load
Building Type m2 Cooling Area/ RTResidential 20-25Office 12-15Retail 10-15Hotel 22-25School 25
The above ratios are indicative and for reference purposes only. They do not account for buildings with special shapes, configurations or particularly small footprints.
Indicative Dimensions for Sports Grounds
Length Width
Tennis Court 20 mSquash Court 6 mBasketball Court 23 mVolleyball Court 20 mBadminton Court 10 mIce Rink 26 mSoccer Pitch 70-80 m
The above dimensions are for a single court with appropriate clearance. No Spectator seating or support area has been allowed.
Densities of Common Materials
ConcreteCementSandGravelSteel
47GENERAL CONSTRUCTION DATA
(Cont'd)
40 m 13 m 38 m 30 m 20 m61 m
110-120 m
2,400 kg/m3
1,441 kg/m3
1,600 kg/m3
1,350 kg/m3
7,850 kg/m3
1,000 kg/m3
700 kg/m3
1,100 kg/m3
2,750 kg/m3
2,100 kg/m3
WaterSoftwood
HardwoodAluminum
Soil (compact)
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GENERAL CONSTRUCTION DATA48
ESTIMATING RULES OF THUMB
Bar Dia.(mm)
6810121620253240
Weight/m(kg/m)0.2220.3950.1610.8881.5792.4663.8546.3139.864
Perimeter(m/m)18.8525.1331.4237.7050.2762.8378.54100.53125.66
Area(mm2)28.2750.2678.54
113.10201.06314.16490.88804.25
1,256.64
Concrete Strength (in accordance with TCVN 3118 - 1993)
1.00 MPa = 145.04 Psi1.00 MPa (Cylinder 15cmx30cm) - 1.20 MPa (Cubic 15cmx30cm)
Reinforcement
Composition of Concrete (per m3)
Mix1:3:61:2:41:1:2
Cement216 kg308 kg540 kg
Sand0.45 m3
0.43 m3
0.38 m3
Aggregate0.90 m3
0.86 m3
0.75 m3
CYLINDER15cm x 30cm
CUBIC15cm x 15cm
CYLINDER15cm x 30cm
CUBIC15cm x 15cm
Psi8,0007,0006,0005,0004,0003,0008,000
Psi8,7007,3005,8005,0004,4003,6002,9002,200
Mpa55484134282155
Mpa66584941342566
Mpa6050403530252015
Mpa5042332925211713
49GENERAL CONSTRUCTION DATA
Average Loads Volume
Lorry (24 ton) 10.0 m3
Concrete truck (24 ton) 5.5 m3
Barge 200 - 1,450 m3
Dimensions for Standard Parking Space,Loading / Unloading Bays and Lay - bys
Private Cars, Taxis andLight VansCoaches and BusesLorriesContainer Vehicles
Minimum headroom means the clearance between the floor and the lower most projection from the ceiling including any lighting units, ventilation ducts, conduits or similar.
Length
5 m12 m11 m16 m
Width
2.5 m3.0 m3.5 m3.5 m
MinimumHeadroom
2.4 m3.8 m4.1 m3.5 m
PROPERTY
Building Control and Procedures
Project Closed Out Procedures
Typical Submission Flowchart
Key Planning Parameter
Procurement Strategies
Contractor Selection Strategies
Property Overview
3PROPERTY INVESTMENT
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BUILDING CONTROL AND PROCEDURES
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PROPERTY INVESTMENT54
BUILDING CONTROL AND PROCEDURES
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PROPERTY INVESTMENT56
PROJECT CLOSED OUT PROCEDURES
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PROPERTY INVESTMENT62
BUILDING AREAS DEFINITIONS
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PROPERTY INVESTMENT64
BUILDING AREAS DEFINITIONS
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PROPERTY INVESTMENT66
PROCUREMENT STRATEGIES
Overview
The primary consideration in the choice of procurement strategy is the need to obtain overall value for money during the entire life of the facility and each method has a different risk profile for the employer and contractor. In Vietnam the following is currently prevalent.
Traditional Lump Sum - high extentManagement Contracting - low extentConstruction Management - medium to high extentDesign and Construct - low extentPrime Contracting - low extentFramework Agreements - rising extentPublic Private Partnership (PPP) - new and promoted extent
Most if not all projects in Vietnam are tendered in competition and the process is covered by the Law of Tendering promulgated in 2006 intended primarily for state projects defined as over 30% total investment capital by a state entity and for Vietnamese Private firms. Foreign Investors do not need to follow the Law of Tendering although it is advisable. The law recognizes open tendering, limited tendering and competitive tendering. For state projects tenders are normally sought using a “two-envelope system” i.e. technical and financial the former being opened first to check for compliances.
Most foreign entities short-list tendering contractors by having a robust pre-qualification procedure for checking financial and technical competencies. Tenders are usually open for 90 days.
The FIDIC suite of contracts is widely used for Vietnam construction contracts with the 1999 Red Book being now widely accepted. There are official translations of some of the FIDIC forms and the Vietnam Consultant Association (VECAS) is an official member of FIDIC. Most Official Development Aid (ODA) projects in Vietnam adopt FIDIC also.
a) Traditional Lump SumMost contracts are let in Vietnam on a lump sum basis using a modified FIDIC Contract which in its unamended form is a measure and value contract. This
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method requires appointment of independent design consultants by the employer and a sufficiently developed design preferably “frozen” prior to tender. Bills of Quantities are usually provided for “information only” to the contractor who normally provide their own quantities with their tender for comparison purposes only and only the rates are contract rates with any “errors and omissions” not being subject to remeasurement after the lump sum is finalized. Prime costs sums for nominated subcontracts for mechanical and electrical and lift sub-contracts are widely used.
b) Construction ManagementThis form of procurement is often portrayed as “fast-track” as tender packages are often let successively throughout the design process with no need to wait until detail design is complete. A construction management consultant is engaged normally for a fixed percentage fee to procure and manage the individual trade contracts which are placed by the employer. This necessitates effective cost management as the total construction budget is not finalized until the final packages are let. The employer bears not an insignificant risk in terms of price certainty, delays, disruption, design and coordination problems. Clients adopting this approach need to be conversant with the local environment and have the requisite in-house skills to deal with issues as they arise.
c) Framework AgreementsFramework agreements referred sometimes as “call-off” contracts between investors with a “pipe-line” of projects and contractors can result in significant savings to both parties using any of the procurement options above. The advantages are time reduced for tendering and negotiations, improved processes and knowledge transfer, bulk order costs savings, reduced confrontation and economies of scale due to continuity of workflow. All these advantages are extremely important in the Vietnam context because it is of paramount importance to maintain healthy relationships between employers and contractors as unforeseen events are prevalent during the design and procurement stages in Vietnam.
d) Public Private Partnership (PPP)PPP is the generic term for the relationships formed between the private sector and public bodies often with the aim of introducing private sector resources and / or
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expertise in order to help provide and deliver public sector assets and services. The term PPP is used to describe a wide variety of working arrangement from loose, informal and strategic partnerships to design, build, finance and operate type services contract and formal points of joint venture companies. The PPP mechanisms would help attract commercial capital and other sources of capital that private investors will seek for PPP projects. In that way, investment efficiency will be improved while public debts controlled at safe levels. Investors of projects will be chosen via competitive bidding in order to maximize benefits and create equal opportunities for domestic and foreign investors. On 9 November 2010 the Prime Minister of Vietnam authorized the issue of detailed regulations covering the piloting of investment in the form of Public Private Partnerships (PPPs) in Vietnam. The PPP Regulations became effective on 15 January 2011 and will continue to be implemented over the next three to five years. The Vietnamese Government intends to carry out PPP programme according to a list of defined projects to ensure that investors are provided with carefully prepared projects with a view to creating a real PPP commercial market in Vietnam. In the coming years the government will carry out some pilot projects. The PPP projects in the country will concentrate on core technical infrastructure that requires much capital, and furthermore, mechanisms to mobilize private investment: (i) Roads, Road bridges, road tunnels, ferry road stations; (ii) Railway, railway bridges, railway tunnels; (iii) Airports, sea ports and river ports; (iv) Clean water supply systems; water drainage systems; liquid and solid waste collection and treatment systems; (v) Power plants, electricity transmission cables; (vi) Hospitals; (vii) Other infrastructure projects.The decrees on PPP Investment Form has been official effective since 14 Feb 2015 to create solid legal frame work for preparation and implementation of PPP projects. There are subsequent circulars issued in 2016 for further guidance on how to preliminary project selection for implementation, establishment, submission, appraisal and approval of Feasibility Study Report (Circular 02); procedure of obtaining the Investment Registration Certificate and the project contract for implementation of the Project which shall be entered by the investor and the competent authority being the party to the contract (Circular 06).
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PROPERTY OVERVIEW
Despite being lower than the target level, Vietnam’s 6.2% GDP growth in 2016 was still in the top rankings amongst other Asian countries. In 2016, in addition to the pick-up in consumer CPI which was mainly caused by increases in prices for medical services and educa-tion, the inflation rate was no longer at the historical low seen in 2015. However, the inflation rate only increased by 1.83% y-o-y, which is within the safe, manageable range defined by the government. This year, in the context of the instability in international economies, Vietnam’s gold and oil prices will pick up along with the appreciation of the US dollar. However, this short term instability may not affect the country’s economy in a significant way. With the TPP on hold, attention is shifting to the ongoing negotiations for the RCEP (Regional Comprehensive Economic Partner-ship). The RCEP will involve 3 billion people in 16 countries and 28% of global trade and will present Vietnam, as well as other developing countries in ASEAN, with unprecedented opportunities to improve their countries’ economies.
Regarding the real estate market, in 2016 the Govern-ment and other related parties have issued or planned policies that may affect the whole market in many sectors. Most notably, the State Bank of Vietnam announced Circular 06/2016/TT-NHHH which will force developers to reduce their dependence on bank credit funds and, as a result, some developers may have to resort to other channels such as domestic investment funds, foreign investors and investment funds. This circular will pose challenges for small-scale developers in all segments of real estate. Other policies that are still under-consideration include taxing second houses or prohibiting the practice of using condominiums for commercial purposes. Should these policies be passed, the country’s real estate market could experience major changes. On a positive note, real estate credit is increasing healthily and strongly. According to the HCMC Real Estate Associa-tion (HoREA), property credit was up 14.2% over the past year while bad debt stayed at only 2.6% and
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may fall even lower in coming years when the bad debts of some ailing banks are acquired by the State Bank of Vietnam. Moreover, both FDI and overseas remittances strongly increased in 2016, which will support the real estate market in coming years.
CONDOMINIUM MARKET
The condominium market in 2016 was active with 37,419 newly launched units in HCMC and 28,000 newly launched units in Hanoi. Compared to 2015, these numbers were lower by 10% and 16% respec-tively. Despite this, the number of sold units only decreased by 4% y-o-y to 35,008 units in HCMC and 13% y-o-y to 30,028 units in Hanoi. Generally, in both cities, the number of sold units almost matched the number of new units offered for sale in the same period, proving that the condominium market still has strong momentum.
Although the mid-end segment still accounted for the largest market share in both cities (followed closely by high-end units), this is expected to change in the future. The market is adjusting to a more balanced position where it welcomed a bigger proportion of mid-end units (48% in 2016 compared to 40% in 2015 in HCMC; 56% in 2016 compared to 42% in 2015 in Hanoi) and a smaller proportion of high-end units (30% in 2016 compared to 38% in 2015 in HCMC; 30% in 2016 compared to 32% in 2015 in Hanoi). In addition, nearly 40% of new launches in 2017 will be in the affordable segment in HCMC and 30% in Hanoi. New supply in the affordable segment is expected to increase notice-ably in coming years as big developers such as Vin Group and FLC are known to be interested in this segment. In addition to strong growth in the mid-end sector, 2016 also witnessed the return of the luxury segment in Vietnam with projects in prime locations and featuring strong and unique selling points.
In HCMC the average selling price in 2016 was recorded at US$2,104 psm, an increase of 4.6% y-o-y. Price improvements were seen in almost all segments though most notably in the mid-end segment.
(Cont'd)
In Hanoi the average market price was US$1,349 psm, an increase of 19% y-o-y. All segments except the affordable segment experienced an increase in primary prices compared to 2015.
Moving forward, supported by sound macroeconomic factors including positive GDP growth, a stable exchange rate and high inflow of FDI to Vietnam and especially to real estate from Korea, Japan and Singapore, the condominium market is expected to remain upbeat in the coming year. Improvements in infrastructure continue to support first-home buyers by providing easier connection between the CBD and suburban districts.
The market is expected to maintain a high absorption rate in the 2017-2019 period. The absorption rate for the affordable segment is expected to increase. It should be noted that an increasing interest rate, the announcement of circular 36 and the end of the VND30 trillion stimulus house mortgage package will reduce demand and sales momentum in the middle segments (mid-end and high-end). The luxury segment is forecast to maintain its current high absorption level.
In terms of primary price outlook, in HCMC, the luxury segment is expected to see a significant increase of 18% y-o-y in 2017 thanks to the introduction of unique products with special designs and prime locations. In contrast, the affordable and mid-end segments will be relatively stable with a modest improvement of about 3% as buyers in this segment are sensitive to price changes. The high-end segment is expected to see price improvements of about 4% y-o-y. In Hanoi, the average primary asking price is forecast to increase 1% to 3% in the coming year.
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RETAIL
In 2016, HCMC welcomed five new shopping centres, one in the CBD and four in non-CBD areas. These new centres added more than 192,000 NLA sm, an increase of 50% y-o-y while Hanoi saw only two new projects opening in 2016; Vincom Center Pham Ngoc Thach and Vincom Plaza Bac Tu Liem, providing 45,900 sqm to the market. These new openings have introduced to the local market many new international brands in various categories from high-end fashion to restaurants, cafés and supermarkets. According to CBRE Research, 17 new popular international brands entered the HCMC market in 2016, triple the number in 2015. Zara with its first flagship store in HCMC was the most significant entry in 2016. Following the success of Zara, H&M and 7-eleven are two big names also considering expansion in Vietnam. Throughout the year we witnessed strong expansion of both local retailers, such as Vincom and Co.opMart, and foreign retailers, such as Aeon, Lotte, Ilahui Miniso, etc. The vacancy rate was 6.8% in HCMC and 5.2% in Hanoi. One of the reasons for the improvement in occupancy was the high occupancy rate at opening of new retail properties. In addition, the closure of one department store which previously experienced a high vacancy rate also contributed to this change. Hanoi also saw struggling shopping centres closing, moving or restructuring to improve performance. The recent closure of a shopping mall reiterated the importance of positioning, target customers and tenant mix.
In terms of asking rental rates, average rents of Ground Floor & First Floor retail property in HCMC increased by 15.4% y-o-y. Prime locations, limited supply and the influx of many new brands are factors that contributed to the leveraging of the rental rate. Meanwhile, the average rental rate in non-CBD areas was flat in 2016. Average rents of Hanoi shopping centers witnessed an increase of 2% y-o-y in CBD areas and a decline of 5.9% y-o-y in non-CBD areas.
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(Cont'd)
Over the next three years, 500,000 sm NLA of retail space are expected to open in HCMC and in the same period 400,000 sm NLA are expected to open in Hanoi. Limited availability of land in CBD areas, improving infrastructure and increasing average income will support the opening of more shopping centres in decentralised areas. Increasing future supplies in non-CBD areas in HCMC are expected to dilute average rental rates, causing a projected decrease of 2% annually for the next two years in HCMC and 0.3% in Hanoi.
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OFFICE
2016 welcomed two new Grade A buildings (Maple-tree Business Centre in District 7, HCMC and TNR tower in Hanoi) and seven Grade B buildings (One in HCMC and six in Hanoi). The HCMC market is still facing limited supply, leading to tight vacancy rates in existing properties and a drop in total net absorption. Vacancy rates in 2016 for Grade A and Grade B office buildings were 8.0% and 2.9%, respectively. Grade A net absorption was recorded at 11,316 sm NLA while Grade B recorded 23,172 sm NLA. Average rental rates were US$36.6 (1.9% y-o-y) and US$ 21 (6.2% y-o-y) in Grade A and Grade B, respectively.
In contrast, in Hanoi it is notable that office space in CBD areas is less popular, leading to an expansion to decentralised areas. The average asking rent in grade A went down by 4.5% y-o-y due to newer supply being offered at lower rental rates than the market average in order to attract higher occupancy. The Grade A average rent in Hanoi decreased to US$28.5 while Grade B remained stable at US$17.8. With six new buildings opening in 2016, vacancy rates in both grade A and B increased. In particular, the grade A vacancy rate increased by 3.3 ppts to 15.8% while grade B increased by 5.6 ppts y-o-y to end 2016 at 16.5%. Annual net absorption was 87,500 sm in 2016.
Looking forwards, rental growth prospects in both cities are limited as new supply will continue to enter the market. Buildings in CBD areas are expected to perform better. In HCMC, the average asking rental rate is expected to enjoy an average stable growth of 1.5%, especially in the CBD area. The asking rental rate for Grade B is expected to become more competi-tive as new supply from both Grade A and Grade B enters the market. SJC Tower and the Tax Center, two very significant sites in HCMC which have been inactive for some time, restarted construction in Q4 2016. When completed in 2020, these two projects will add 83,000 sm GFA to the total supply.
In Hanoi, large-scale office buildings are being actively constructed and fitted out for launch, which will add to both grade A and B stocks. The most active areas are the West and Midtown which will lead to more compe-tition. Existing buildings have to improve their services as well as offering more competitive rents if they are to compete successfully with these new entrants to the market.
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Regarding office trends, co-working space is on the rise with Toong to join the HCMC market in Q1, 2017 through partnership with CapitaLand. Currently, HCMC has 10 co-working spaces. Two other large co-working space chains, Dreamplex and Up, are already considering expansion in the near future in HCMC.
In 2017, the main drivers for leasing will be expansion and relocation to newer buildings. Tenants in Grade A buildings are expected to continue to move to newer buildings once their rental contracts have expired with tenants from Grade B quickly absorbing the available leasing areas left by outgoing Grade A tenants. Tenants will also expand their offices in the same building in which they are currently leasing or they will relocate to newer buildings. According to transactions recorded by CBRE, the highest demand for office space in 2016 came from the Finance – Banking, Logistics and Technology sectors. As the startup scene continues booming in Vietnam, tenants will have a choice between traditional office spaces, business centers and co-working spaces. CBRE forecasts that older buildings will surrender old retail podium and difficult to lease office spaces to develop into either business centers or co-working spaces.
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LANGUAGE
Vietnamese was declared the official language of Vietnam in 1945, as much as 70% of the vocabulary is borrowed from Chinese and the intonation is similar to Cantonese. It is spoken by approximately 90% of the Vietnamese population and ranked as the world’s 15th most spoken language. English, however, is widely used in the business community.
ACCOUNTING SYSTEM
Accounting records are required to be maintained in VND. Foreign-invested business entities can select a foreign currency to be used for their accounting records and nancial statements provided that they meet all requirements specied in Circular 244/2009/TT-BTC issued by the Ministry of Finance (“MoF”). Accounting records are required in Vietnam-ese language, but this can be combined with a commonly-used foreign language. At the end of a nancial year, the entity must perform a physical count of its fixed assets, cash and inventory.
Companies operating in Vietnam are required to comply with the Vietnam Accounting System (“VAS”). It is possible to diverge from the standard VAS, but this is subject to specific approval from the MoF. The tax authorities treat VAS non compliance as a basis for tax reassessment and imposition of penalties, including withdrawal of CIT incentives, disallowance of expense deductions for CIT purposes and disallowance of input VAT credits/refunds.
The annual nancial statements of all foreign-invested business entities must be audited by an independent auditing company operating in Vietnam. Audited annual nancial statements must be completed within 90 days from the end of the nancial year. These nancial statements should be led with the applicable licensing body, MoF, local tax authority, Department of Statistics, and other local authorities if required by law.A
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BANKS
Banking industry of Vietnam is considered as young in terms of integration to worldwide, until in 1990, it was only restructured to separate the State Bank of Vietnam from commercial banks. The State Bank of Vietnam acts as a central bank and a supervisory institution and is also a main share holder in state-owned commercial banks (SOCB). Later, more forms of commercial banks are established especially after 2006 when Vietnam joined WTO. With less than 5% of the population regularly using banking service, and 10%-20% holding bank accounts, it has provided good opportunities for growth, however, competition in banking sector is considered as very harsh. Besides Vietcombank, Vietinbank, Agriculture Bank, BIDV as top of SOCB, top joint stock banks can be named as ACB, Sacombank, Techcombank, Indovina Bank as top of joint venture bank. Nowadays, in the banking sector, we can see a variety range of plenty commer-cial banks including 4 biggest SOCB, around 40 joint stock banks, and 40 foreign invested banks or branches of foreign banks, representative offices, 4 joint venture banks in playground. Although all the big names of foreign banks such as Citibank, HSBC, Standard Chartered Bank, ANZ are all presence in Vietnam, the banking system is still characterized by the strong dominance of market share by SOCB.
Official currency in Vietnam is VND, however, laws allow local and foreign entities and individuals to hold foreign currency at bank accounts as deposit/savings and funds received/transferred from foreign countries in freely. Nevertheless, domestic payment, usage or cross border outward transfer of foreign currency is prohibited or limited to certain kinds of transactions and it requires supporting documents.
(Cont'd)
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BANKS
Banks can provide customers with all kinds of services, however, it is more characterized by commercial banking market rather than having a clear division on investment banking and commercial banking. Commercial banking services are such as deposits, loans, trade finance, bank guarantees Deposit can be made in both VND or foreign curren-cies and deposit is including current account, saving accounts and fixed deposit from 1 month to 24 months. Interest rate for VND is always higher than foreign currencies (currently average VND interest rate is 5%-7%p.a. compared to USD interest rate at 0.75%p.a). Loan services comprises of short term loan (under 1 year), medium term loan (from 1 to 5 years) and long term loan (over 5 years). Loans in foreign currencies (popular USD) are restricted to companies who have the proceeds in foreign curren-cy. Getting loans in USD is also always cheaper than loans in VND especially for those who having source of fund from their export. Banks always offer a credit line to their customers to finance all their need in short term working capital or long time investment in machineries or factories. Credit line may be used for loan disbursement, trade finance or bank guarantee service. Trade finance can be listed as L/C service (sight or usance L/C), bills for collection D/P or D/A, L/C negotiation, shipping guarantee, factoring. The most popular trade finance service in Vietnam is L/C, D/P and D/A, while factoring service is rarely used. Bank guarantee services are comprised of many types, some commonly used in the economy are such as bid bond, performance bond, warranty guarantee, payment guarantee or advance payment guarantee… Fee for issuance of bank guarantee is 2% p.a. of the guarantee value plus a small amount charge on documentation. Customers can request banks to issue for them a bank guarantee by deposit fund to bank or from a credit line offered by bank.A
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GOVERNMENT ADMINISTRATION
The National Assembly is the highest representative organ of the people and the highest organ of the state power of the Socialist Republic of Vietnam. Members are elected for a five year tenure through nation wide elections. Sittings of the National Assembly are held twice a year and have full constitutional and legislative powers. The standing committee of the National Assembly is responsible for enforcement of laws. Its functions are carried out through the Ministries, State Committees and General Departments by promulgating and explaining the Constitution, law and decree-laws.
The Country’s President is the head of state, elected by the National Assembly from among its members to represent the Socialist Republic of Vietnam in internal and foreign affairs. The Vice President is proposed by the President and elected by the National Assembly from the representatives. The National Defense and Security Council has the duty to mobilize all forces and potentials of the country to defend the Homeland.
The Government is the executive organ of the National Assembly and shall report to the National Assembly, the National Assembly standing committees and the Country’s President. The Goverment consists of the Prime Minister, Deputy Prime Minister, Ministers and Heads at ministerial level. The Prime Minister is presented by the President and elected by the National Assembly and has the term of 5 years. The Deputy Prime Ministers are the assistants of the Prime Minister and may be delegated by the Prime Minister during his absence. The Ministers and Heads at ministerial levels take on the State management of allotted branches or fields.
The People’s Supreme Court is the highest judicial organ of the Socialist Repulic of Vietnam. The court consists of the Tribunal President, Vice Tribunal President, judges, the juror and the secretary of the court. Moreover, the court is composed of the judge Council, judge Committee, the Military court and criminal court, civilian court, the court of appeal and the assistant apparatus.
TAXATION
TAXATION IN THE REAL ESTATE INDUSTRY
I. Corporate Income Tax ("CIT")
Organizations established in Vietnam deriving income from transferring or leasing property are subject to Corporate Income Tax ("CIT") at the standard tax rate of 20% from 1 January 2016. A CIT rate of 10% shall be applicable to income from selling, leasing and financial leasing of social housing. Aside from this, real estate developers generally are not given preferential tax rates, tax holidays or other tax reductions except for special cases such as projects located in poor social-economic regions or projects for construction of residential houses for the poor or workers. For advanced payment for properties under develop-ment, real estate developers are required to pay provisional CIT, either at 20% on provisional income if the corresponding expenses can be determined and matched with the revenue or 1% on advanced payments if not. However, no revenue recognition is allowed for the advance payment. Where the enterprise sub-leases out a property, if the lessee pays a lump sum for a number of years and certain conditions are met then the lessor is able to recognise revenue by one of two methods: (i) on allocat-ed on a year-by-year basis or (ii) a lump-sum basis.
Losses incurred in a given year can be consecutively carried forward for 5 years. With effect from 1 January 2014, losses from real estate transfer activities can be offset against the taxable income of other business activities of the relevant tax year. However, the gain from transfer of real estate is still required to be recorded and taxed separately without offsetting with loss from other activities. Land use rights ("LURs") with indefinite terms may not be depreciated for tax
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purposes. However, LURs with a definite term used for production or business activities, can be amortized over the prescribed land use duration. Any gains from the revaluation of a LUR for capital contribution purposes shall be determined as follows:
(i) For capital contribution for residential housing for sale: the whole gain is recognized as other income at once in the current tax period.
(ii) For capital contribution for production or business activities, if the company receiving LUR is allowed to depreciate such LUR, the whole gain is recognized as other income at once in the current tax period. Otherwise, the gains may be allocated to other income over the period up to ten years.
II. Value Added Tax ("VAT")
The transfer of a LUR without any related infrastruc-ture is not subject to VAT. Conversely, the transfer of LUR with an infrastructure and building component is generally subject to VAT at 10%. However, the land value can be excluded from the revenue subject to VAT. The determination of deductible land price for VAT purpose varies depending on how the land was acquired for the project. Input VAT incurred for construction costs can generally be claimed as an input VAT credit. Output VAT will also be applied to the payment collection on schedule and the deductible land value for VAT purpose is also allocated accordingly. The VAT rate of 5% applicable to contracts of selling/leasing/financial leasing for social housing, which satisfy the stipulated conditions. III. Stamp Duty
Stamp duty is payable at the transfer of title of real estate property by the buyer. Some specific transfers
(Cont'd)
may be exempted from the stamp duty. Stamp duty is imposed at 0.5% on the value of the property up to VND 500 million (approx. USD 25,000) per asset per transaction.
IV. Foreign Contractor Tax ("FCT")
Foreign companies with or without its permanent establishment ("PE") in Vietnam carrying out its business activities in Vietnam, and/or deriving income in Vietnam under a contract or agreement signed with a Vietnamese organisation or individual, would be referred to as a foreign contractor ("FC"), and subject to Vietnamese FCT. VAT and CIT are the two components of the FCT. There are three tax filing and payment options: (i) Full registration method with maintenance of books and accounts in Vietnam under Vietnam Accounting System; (ii) Deemed Withholding method and (iii) the Hybrid method, which consists of paying VAT on the conventional deduction method like a Vietnamese company but paying CIT on a Deemed Withholding method basis.
The Deemed Withholding method is the most common one in practice by which the contracting Vietnamese party is responsible for registering, withholding, filing and paying the FCT due from each payment made to the FC. The applicable rates vary depending on the nature of goods and services provided. For projects having a substantial portion of local purchases, the Hybrid method is often applied so that the FCs can claim credit on the input VAT incurred on local purchas-es but can still pay the CIT on a deemed basis.
V. Personal Income Tax ("PIT")
Generally, real estate (other than a property used as a sole residential property and some other specific exempt transactions) transferred by an individual is subject to PIT. Property transactions subject to PIT include the transfer of "the right to buy", and the transfer of "the right to lease".
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PIT exemption for transfer of sole residential property is not applicable for (i) transfer within 182 days from the date of having the right of ownership/LUR; and (ii) transfer of house/apartment/construction work completed in the future.
Typically, a Vietnam tax resident has to pay PIT for the property transactions at 2% on the transfer price.
No PIT declaration and payment are required in case individuals/households having property for lease earning annual rental of VND100 million or less (approx. USD4,800 per year).
VI. Non-agricultural land-use tax
Non-agricultural land-use tax ("NALUT") is generally applicable to the following types of land: Non-agricul-tural land used for residential, production or business purposes.
The calculation of the tax liability is generally based on the land area, price of land (normally set by the provin-cial-level People Committee and remains unchanged within 5 years from 1 January 2012) and tax rate. For residential land holding a multi-floor building or non-agricultural land holding a production or business establishment, the applicable tax rate is 0.03%.
Organisations granted with LUR and existing land users are required to submit NALUT declaration on a yearly basis at the tax office of the relevant district no later than 31 March of the following year. However, no further declaration in subsequent years is required if there is no change in tax payer or tax liability. If there is any change, the tax payer is required to submit an amended declaration within 30 days following the date on which the change takes effect.
The tax payer may opt to pay the NALUT on one-off basis a year no later than 31 May each year or twice a year no later than 31 May and 31 October each year. If the tax payer requests to pay the NALUT on one-off
(Cont'd)
basis for many years within a 5-year period, the payment of tax may not be later than 31 December of the year in which the request is made.
NALUT exemption and reduction can be granted to certain types of land including land related to invest-ment projects in the sectors eligible for special invest-ment incentives, investment projects in geographical areas with qualifying socio-economic difficulties and other specific cases.
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INSURANCE
Overview Most risks that a company would insure anywhere else in the world can be adequately insured for in Vietnam. Rates and terms are generally a function of the world market with due consideration given to local factors however it should be noted that VAT of 10% applies to insurance premiums on policies written within Vietnam. While the overall ability to insure large or complicated risks entirely within Vietnam is limited, the Vietnamese insurance industry can nonetheless insure any size risk through reinsurance arrange-ments with international reinsurance organizations. The leading reinsurers and those who carry more than 10% have to be rated at least BBB by Standards & Poors or B++ by AM Best or Baa by Moody's or equivalent.
Vietnam passed a comprehensive Insurance Law in December 2000 which took effect on April 1, 2001. The Amendment of Insurance Law has been passed and was effective as at July 1, 2011. The key changes are focused at keeping up with any WTO commit-ments such as: the insurance market is professional & open, foreign insurers are allowed to establish a branch in Vietnam or issue an insurance policy into Vietnam. However, the law gives the power to the government to release detailed guidance and to license such transactions. The Decree No. 123/2011/ND-CP was issued on 28 Dec 2011 to provide guidance on the implementation of the Amended Insurance Law. In addition, the government issued Circular No. 124/2012/TT-BTC and Circular No. 125/2012/TT-BTC on 30 Jul 2012 with effective from 01 Oct 2012 to guide on the operation and finance of the insurance market. The Decree No. 98/2013/ND-CP effective from 15 Oct 2013 providing guidance on penalties for administration offences in Insurance Business.
(Cont'd)
Construction All Risks (CAR) insurance, including the covers for the Contract Work & Third Party Liability, is popular in Vietnam. Recently, owners of larger projects have shown interest in considering more technical coverages such as Advance Loss of Profit (ALoP) / Delay in Start-Up (DSU) to protect their anticipated profit/fixed costs and Completed Operation/Product Liability insurance for liability of a particular project.
Since the real estate market was in hibernation stage over the past years, construction insurance program did not develop significantly. At the moment, due to positive enactment of new law and regulation from the government including Property Law (Amendment) and Real Estate Commercial Law (Amendment) which shall have effect from July 1st, 2015. In addition, mortgage loan for construction and real estates will be also easy access as instructions of National Banks, the real estate market has recovered positively and we are expecting promising developments in construction insurance also.
In another side, construction insurance premiums tend to decline in recent years. This comes from fierce competition between insurance companies and tightening insurance costs of investors and contrac-tors. The international insurance companies are hardly capable to compete on cost with the local insurance companies. However, the international insurance companies still have certain advantages in projects requiring in-depth underwriting skills and the ability to arrange with international re-insurers.
Construction insurance still tends to be left to the contractor to arrange rather than the owner which can give rise to gaps in cover when projects are delayed or split into smaller packages. There may also be gaps when the project passes from construction to operation.
Compulsory Insurances in Vietnam
Compulsory insurances are regulated in insurance laws & some specialized laws. Below is the consolidation:
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Fire and Explosion - (Article 8 of Law on Insurance Business)
Motor Vehicle/Aviation carriers to passengers - (Article 8 of Law on Insurance Business, Decree 103/2006/ND-CP/ Article 163 of Civil Aviation Law)
Civil Liability Insurance of those who deal in the transport of passengers or cargo in inland waterways - (Article 6 &7 of Decree 125/2005/ND-CP and Article 58 & 126 of Marine Law)
Professional Indemnity Insurance for
Insurance brokers - (Article 8 of Law on Insurance Business)Lawyers - (Article 8 of Law on Insurance Business & Article 40 of Law on Lawyer)Contractor to perform survey for construction works (Article 51 of Law on Construction)Contractor to design for construction works - (Article 58 of Law on Construction)Contractor to supervise for execution of building works - (Article 90 of Law on Construction)Securities companies - (Article 71 of Law on Securities)Fund management companies - (Article 72 of Law on Securities)Auditing Companies - (Decree 105/2004/ND-CP on independent auditor)Enterprises on price assessment - Article 11 of Decree 111/2005/ND-CP on Price assessment)Medical examination and treatment
Insurance for Construction works:
Applicable to investors/developers - (Article 75 of Law on Construction)Applicable to contractors - (Article 76 of Law on Construction)Applicable to parties who call construction tender - (Article 104 of Law on Construction)Professional insurance, civil liability insurance and environmental damage compensation liability insurance applicable to organizations and individuals performing radiation jobs
(Cont'd)
Civil Liability Insurance and Environmental Damage Compensation Liability Insurance applicable to Organizations and Individuals performing Radiation Jobs
Travel Insurance for Vietnamese traveling overseas
Technically there is no requirement for worker compensation insurance. However since there is a liability regarding employees under the Vietnamese labour law the purchase of worker compensation insurance can act as a risk transfer method to protect against these liabilities.
Market Players
Insurers
There are numerous domestic and foreign companies licensed to provide non-life insurance, including insurance for construction sectors in Vietnam.
State-owned: Vietnam Insurance Corp (Bao Viet), Bao Minh Insurance Corp (Bao Minh)
Group-controlled: PetroVietnam Insurance Corpora-tion (PVI), PG Insurance (PJICO), Post & Telecommu-nication Insurance JSC (PTI), Global Insurance Co. (GIC), Vietnam Aviation Insurance JSC (VNI), SHB Vinacomin Insurance JSC (SVIC)
Bank-based: Vietinbank Insurance Co. (VietInsco), BIDV Insurance Co. (BIC), Agriculture Bank Insurance JSC (ABIC), Military Bank Insurance Company (MIC)
Joint Stock: BaoLong Insurance Corporation (Bao Long), Vien Dong Assurance Corp (VASS), AAA Assurance JSC (AAA), Phu Hung Assurance (PAC), Hung Vuong Insurance Corp (BHV), Great Mountant Insurance JSC (GMIC)
Foreign: Groupama, QBE, AIG, ACE, Liberty, Fubon, MSIG, Cathay, SGI Hanoi
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Joint Venture: Bao Viet Tokyo Marine (JV between Baoviet and Tokio Marine), United Insurance Co. (UIC – the JV among Bao Minh, Sompo & LG), Samsung Vina Insurance (JV between Samsung and VinaRe)
Reinsurer:Vietnam National Insurance Corp (VinaRe). PVI Reinsurance Joint Stock Corporation (PVIRe)
30 Non-life Insurers
Joint-stock(17)
♦ Bao Viet ♦ Bao Minh♦ Bao Long♦ PVI♦ PJICO♦ PTI♦ VASS♦ AAA♦ GIC♦ ABIC♦ MIC♦ VNI♦ HVI♦ BSH♦ Vietinsco♦ Xuan Thanh♦ BIC
Joint-venture(2)
♦ UIC♦ Baoviet Tokyo Marine
Foreign-owned(11)
♦ AIG♦ QBE♦ Groupama♦ ACE♦ Liberty♦ MSIG♦ Fubon♦ PAC♦ Cathay♦ Samsung♦ SGI Hanoi
(Source: Vietnam Insurance Associate – Quarter 1 of 2015)
Brokers As insurance is best arranged through a licensed insurance broker who can help companies to assess the underlying risks and then arrange appropriate insurance on their behalf, there are a number of licensed insurance brokers.
(Cont'd)
International:Jardine Lloyd Thompson (JLT), Aon, Marsh, Grass Savoye Willis, Toyota Tsusho
Local:Viet Quoc, A Dong, Thai Binh Duong, Sao Viet, CIMEI-CO, Nam A
Non-life insurance market share up to QIII of 2015 Employee Benefit Line
Loss ratio up to QIII of 2015 Employee Benefit Line
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(Reproduced by kind permission of Jardine Lloyd
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WORKFORCE
The estimated population of Vietnam in 2017 will be circa 94 million (as the General Office for Population Family Planning).
According to article 22 Circular 26/2016/TT-BLĐT-BXH, from 15 October 2016, the maximum expendi-ture of mid-shift meals of employees is increased to VND 730,000 per person monthly (the previously-stip-ulated maximum is not exceeding 680,000 VND per person monthly).
As expected, the monthly minimum wage will increase by an average of 7.3 per cent in 2017. Whereby, region-based minimum wages shall be applied as follows:
√ VND 3,750,000/month shall be applied to enterprises operating in region I. √ VND 3,320,000/month shall be applied to enterprises operating in region II. √ VND 2,900,000/month shall be applied to enterprises operating in region III. √ VND 2,580,000/month shall be applied to enterprises operating in region IV.
Vietnam Map
Domestic Routes
Vietnam Key Data
Some Interesting Facts
Relevant Websites
Public Holidays
Prime Rates
Financial Formulae
IDD Codes and Time Differences
Conversion Factors
Arcadis Asia Leadership Team
Arcadis Asia Sectors
Arcadis Asia Services
Directory of offices
Acknowledgement
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Route Distance (km)
Duration
From Hanoi to:
Buon Ma Thuot (Dak Lak)Ca MauCam Ranh (Khanh Hoa)Chu Lai (Quang Nam)Con Dao (Ba Ria - Vung Tau)Da Lat (Lam Dong)DanangDong Hoi (Quang Binh) Hai PhongHanoiHue Phu Quoc (Kien Giang)Pleiku (Gia Lai)Quy Nhon (Binh Dinh)Rach Gia (Kien Giang)Tuy Hoa (Phu Yen)Vinh (Nghe An)
26024831855724821460374511111138630300384431194381883
01h00'01h00'01h00'01h1501h00'00h50'01h1501h35'02h00'02h05'01h20'01h05'01h20'01h10'00h55'01h00'01h45'
From Ho Chi Minh City to:
Buon Ma Thuot (Dak Lak)Cam Ranh (Khanh Hoa)Can ThoChu Lai (Quang Nam)Da Lat (Lam Dong)Da NangDien Bien Phu (Dien Bien)Dong Hoi (Quang Binh) Ho Chi Minh CityHuePhu Quoc (Kien Giang)Pleiku (Gia Lai)Quy Nhon (Binh Dinh)Tuy Hoa (Phu Yen)Vinh (Nghe An)
96010391221770106560630139911385491575814882956254
01h40'01h45'02h10'01h5501h50'01h15'01h05'01h25'02h05'01h10'02h10'02h20'01h35'02h35'01h00
From Da Nang to:
Buon Ma Thuot (Dak Lak)Cam Ranh (Khanh Hoa)Da Lat (Lam Dong)Hai PhongHanoiHo Chi Minh CityPleiku (Gia Lai)Vinh (Nghe An)
374436480709606603227452
01h15'01h05'01h25'01h15'01h15'01h15'00h55'01h15’
DOMESTIC ROUTES
VIETNAM KEY DATA
Government Country Name Head of State Government Type Head of Government Capital City Administrative DivisionsIndependence Legal System Official Language National Language
Geography Geographic CoordinatesLocation Border Countries
Total Area Land Area Water Land use
Irrigated Land Coastline Land boundaries Natural Resources
Climate type
Natural hazards
People Total Population
: The Socialist Republic of Vietnam: President : Socialist Republic : Prime Minister : Hanoi : 58 provinces and 5 municipalities : 2nd September 1945 : Based on Constitution of Vietnam : Vietnamese : Vietnamese
: 16 10 N, 107 50 E : South East Asia : Cambodia 1,158 km, China 1,297 km, Laos 2,161 km : 331,210 sq km : 310,070 sq km : 21,140 sq km : arable land: 19.64%; permanent crops: 11.18%; other: 69.18% : 45,850 sq km (2005) : 3,444 km (excludes islands) : 4,616 km : phosphates, coal, manganese, rare earth, elements, bauxite, chromate, offshore oil and gas deposits, timber, hydropower: tropical in south; monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March) : occasional typhoons (May to January) with extensive flooding, especially in the Mekong River delta
: 92.70 million (2016 est.)
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Age structure
Population Growth Rate Median Age Life Expectancy
Urban Population Hanoi Ho Chi Minh City Ethnic Groups
Languages
Literacy (definition: age 15 and over can read and write) Population below poverty line Labor Force Labor Force by occupation
Unemployment Rate
Economy Monetary Unit Currency Code Exchange rate toUSD Euro British Pound Average Consumer
: Urban: 34.6% Rural: 65.4% Male: 49.4% Female: 50.6% : 1.08% (2016 est.) : total: 30.8 (est. 2016) : average age: 73.4 years old male: 70.8 years old female: 76.1 years old
:7.38 million (2015 est.) : 8.42 million (est. 2016) : 54 Ethnic Groups Kinh (Viet) 85.7%, Tay 1.9%, Thai 1.8%, Muong 1.5%, Khome 1.5%, Hmong 1.2%, Nung 1.1%, others 5.3% (2009 census) : Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer; mountain area languages (Mon-Khmer and Malayo- Polynesian): total population: 94.9% (2015 est.) male: 96.6% (2015 est.) female:93.3% (2015 est.) : 11.3% (2012 est.)
: 54.4 million (est. 2016) : Agriculture: 41.9% (est. 2016) Industry: 24.7%(est. 2016) Services: 33.4% (est. 2016) : 2.29% (est. 2016)
: Vietnamese Dong : VND dong (VND) per : 22,338 (est. 2016) : 24,881 (est. 2016) : 30,514 (est. 2016) : 2.66% (est. 2016)
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Price Index (CPI) Fiscal Year GDP (Official Exchange Rate) GDP Growth Rate GDP composition by sectors
Trade Total Exports Major Exports Commodities
Export Partners
Total Imports (USD billion) Major Imports Commodities
: 1 January to 31 December : US$ 136,74 billion (est. 2016)
: 6.21% (est. 2016) : Agriculture: 16,32% (est. 2016) Industry: 32,72% (est. 2016) Services: 40,92% (est. 2016)
: US$ 175.9 billion (est. 2016) : 1 - Telephones, mobile phones and parts thereof 2 - Textiles and garments 3 - Computers, electrical products, spare-parts and components thereof 4 - Foot-wear 5 - Fishery products 6 - Crude oil 7 - Machine, equipment, tools and instruments 8 - Wood and wooden products 9 - Other means of transportation, parts and accessories thereof 10 - Rice : EU 10%, US 14%, Asean (-4,8%), Japan 3.4%, Korea 29%, China 26.3% : US$ 173.3 billion (est. 2016)
: 1 - Machine, equipment, tools and instruments 2 - Computers, electrical products, spare-parts and components thereof 3 - Textile, leather and foot-wears materials and auxiliaries group 4 - Telephones, mobile phones and parts thereof 5 - Petroleum products 6 - Iron and steel 7 - Plastics
VIETNAM KEY DATA
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8 - Animal fodders and animal fodders materials 9 - Chemical 10 - Other means of transportation, parts and auxiliaries thereof: products, fertilizer, steel products, raw cotton, grain, cement, motorcycles: China 0.5%, Asean (-0.3%), Korea 31.7%, EU 11.1%, Japan 4.3%, US 11.6% : Tan Son Nhat International Airport (Ho Chi Minh City), Da Nang International Airport (Da Nang), Hanoi Noi Bai International Airport (Hanoi), Nha Trang Cam Ranh International Airport (Nha Trang), Can Tho International Airport (Can Tho) : Cam Pha Port (Quang Ninh), Hai Phong Port (Hai Phong), Nghi Son Port (Thanh Hoa), Cua Lo Port (Nghe An), Vung Ang Port (Ha Tinh), Chan May Port (Thua Thien Hue), Da Nang Port (Da Nang), Dung Quoc Port (Quang Ngai), Quy Nhon Port (Binh Dinh), Van Phong Port (Khanh Hoa ), Saigon Port (Ho Chi Minh City), Vung Tau Port (Vung Tau), Dong Nai Port (Dong Nai), Can Tho Port (Can Tho)
Commodities
Import Partners
International Airports
Major Seaports
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SOME INTERESTING FACTS
Vietnam’s history can roughly be divided into the following periods:
Pre-history: from circa 400,000 years (Palaeolithic to 4,000 years (Neolithic) ago, cultures in the area included Son Vi, Hoa Binh, Bac Son, Ha Long, and Hoa Loc.
Proto-history: According to legends, Vietnam riginated in the seventh century BC when the Hung Kings founded Van Lang. In the third century BC, King An Duong Vuong named founded Au Lac and ruled until 179 B.C.
Chinese Occupation: Vietnam was occupied by China from the first to the tenth century A.D.
Monarchy: Kings rules the area from 968 to 1945.
Independence: The Socialist Republic of Vienam was founded after the 1945 revolution, when President Ho Chi Minh declared independence.
French War: Vietnam battled French colonialism from 1858 to the August Revolution in 1945, and from 1946 to the victory at Bien Bien Phu in 1954.
American War: Vietnam fought America from 1954 to Ho Chi Minh’s victory on April 30, 1975.
From 1975 until now: Vietnam has been working towards development and success and has been member of International Organizations
1976: Non–Aligned Movement (NAM)
1976, Jun: World Intellectual Property Organization (WIPO)
1976, Oct: Member of UNESCO
1977, Sep: Vietnam became the member of The United Unions (UN)
1995, Jul: Vietnam became the seventh member of Association of Southeast Asian Nations (ASEAN)
1995, Jul: ASEAN Free Trade Area (AFTA)
1996: The Asia-Europe Meeting (ASEM)
1998, Nov: Asia-Pacific Economic Cooperation (APEC)
2000, Jul: signed the Bilateral Trade Agreement (BTA) with the United States
2007, Jan: Vietnam became the 150th member of the World Trade Organization (WTO)
2013, Jul: Vietnam maintains diplomatic relationships with 182 nations throughout the world, including permanent members of United Nations Security CouncilA
RCA
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TNA
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Government Office
Ministry of Public Security
Ministry of Home Affairs
Ministry of Justice
Ministry of Planning and Investment
Ministry of Finance
Ministry of Industry and Trade
Ministry of Agriculture and Rural Development
Ministry of Transport
Ministry of Construction
Ministry of Natural Resources and Environment
Ministry of Information and Communication
Ministry of Labor, War Invalid and Social Affairs
Ministry of Culture, Sports and Tourism
Ministry of Science and Technology
Ministry of Health Portal
Ministry of Education and Training
Ministry of Foreign Affairs
The State Bank of Vietnam
General Statistics Office of Vietnam
Directorate for Standards, Metrology and Quality
Vietnam National Administration of Tourism
Vietnam Customs
Vietnam Register
RELEVANT WEBSITE
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http://www.chinhphu.vn
http://www.mps.gov.vn
http://www.moha.gov.vn
http://www.moj.gov.vn
http://www.mpi.gov.vn
http://www.mof.gov.vn
http://www.moit.gov.vn
http://www.mard.gov.vn
http://www.mt.gov.vn
http://www.moc.gov.vn
http://www.monre.gov.vn
http://mic.gov.vn
http://www.molisa.gov.vn
http://www.cinet.gov.vn
http://www.most.gov.vn
http://www.moh.gov.vn
http://www.moet.gov.vn
http://www.mofa.gov.vn
http://www.sbv.gov.vn
http://www.gso.gov.vn
http://www.tcvn.gov.vn
http://www.vietnamtourism.com
http://www.customs.gov.vn
http://www.vr.org.vn
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01 Jan02 Jan#
27 Jan28 Jan29 Jan30 Jan31 Jan01 Feb@
02 Feb@
06 Apr30 Apr01 May02 May+
02 Sep04 Sep*25 Dec
2017
VIETNAM
Normal Scheduled HolidaysNew Year’s Day
Lunar New Year
Hung Vuong King CelebrationLiberation Day of SaigonInternational Labour Day
National Day
Christmas Day
# Substitute for 01 January 2017 (Sunday)@ Substitute for 28 and 29 January 2017 (Saturday and Sunday)+ Substitute for 30 April 2017 (Sunday)* Substitute for 02 September 2017 (Saturday)
PUBLIC HOLIDAYS
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2017
The day following the first day of JanuaryLunar New Year's DayThe 3rd day of Lunar New YearThe 4th day of Lunar New YearChing Ming FestivalGood FridayThe day following Good FridayEaster MondayLabour DayBuddha's BirthdayTuen Ng FestivalHKSAR Establishment DayThe day following National DayThe day following the Chinese Mid-Autumn FestivalChung Yeung FestivalChristmas DayThe 1st week-day after Christmas Day
02 Jan*
28 Jan30 Jan31 Jan04 Apr14 Apr15 Apr17 Apr01 May03 May30 May01 Jul02 Oct*
05 Oct28 Oct25 Dec26 Dec
* As both the first day January and National Day in 2017 fall on a Sunday, the day following them designated as a general holiday in substitution. In addition, since the second day of Lunar New Year in 2017 falls on a Sunday, the fourth day of Lunar New Year is designated as a general holiday in substitution.
HONG KONG
120
PUBLIC HOLIDAYS
2017
CHINA
New Year's Day ♥
Chinese New Year’s EveChinese New Year @
Tomb-Sweeping Day Ω
Labour Day ♣ Dragon-Boat Festival *National Day ᵬ
Mid-Autumn Festival ♣
01 Jan27 Jan28 Jan29 Jan04 Apr01 May30 May01 Oct02 Oct03 Oct04 Oct
♥@
Ω♣* ᵬ
2 January 2017 is holiday.30 - 31 January 2017, 1 - 2 February 2017 are holidays,22 January 2017 and 4 February 2017 are working days.2 and 3 April 2017 are holidays, 1 April 2017 is working day.2 - 3 May 2017 are holidays .28 and 29 May 2017 are holidays . 27 May 2017 is working day.5 - 8 October 2017 are holidays, 30 September 2017 isworking day.
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2017
MACAU
01 Jan*
02 Jan#@
27 Jan@
28 Jan*29 Jan*30 Jan*#
31 Jan#@
01 Feb@
04 Apr*#
14 Apr#
15 Apr17 Apr#@
01 May*#
03 May#
30 May#
01 Oct*02 Oct#03 Oct@05 Oct*#
28 Oct*
30 Oct#@
02 Nov#
08 Dec#
20 Dec*22 Dec#
24 Dec25 Dec#
26 Dec#@
New Year's DayThe first working day after New Year’s DayLunar New Year’s Eve (Afternoon)Lunar New Year's DayThe 2nd day of Lunar New YearThe 3rd day of Lunar New YearThe 4th day of Lunar New YearThe 5th day of Lunar New YearChing Ming FestivalGood FridayThe day before EasterThe 1st working day after EasterLabour DayThe Buddha's BirthdayTung Ng Festival (Dragon Boat Festival) National DayThe day following National DayThe 1st working day after National DayThe day following Mid-Autum FestivalChung Yeung FestivalThe 1st working day after Chung Yeung FestivalAll Soul's Day Feast of the Immaculate ConceptionMacau SAR Establishment DayWinter SolsticeChristmas EveChristmas DayThe 1st working day after Christmas Day
Obligatory HolidayBank's HolidaySpecial holiday granted by Chief Executive for staff in PublicAdministration
*#@
PUBLIC HOLIDAYS
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2017
BRUNEI
New Year's DayChinese New YearNational Day Israk Miraj1st Day of RamadhanRoyal Brunei Armed Forces DayNuzul Al-QuranHari Raya Puasa
Sultan Birthday Hari Raya Haji Christmas Day
INDIA
01 Jan28 Jan23 Feb24 Apr27 May31 May12 Jun26 Jun27 Jun28 Jun15 Jul01 Sep25 Dec
New Year's DayRepublic DayGood FridayUgadiRamnavamiIndependence DayGanesh ChaturthiDussheraKarnataka Formation Day
01 Jan26 Jan25 Mar08 Apr15 Apr15 Aug05 Sep12 Oct01 Nov
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2017
INDONESIA
MALAYSIA
New Year's DayChinese New Year (Imlek)Election Day (Region)Hindu Day of Quiet (Nyepi)Good FridayAscension of Prophet MuhammadInternational Labour DayWaicak DayAscension Day of Jesus ChristPancasila Day *Idul Fitri
National Independence Day Idul Adha DayHijriyah New YearProphet Muhammad’s BirthdayChristmas Day
01 Jan28 Jan15 Feb28 Mar14 Apr24 Apr01 May11 May25 May01 Jun25 Jun26 Jun17 Aug01 Sep21 Sep12 Dec25 Dec
* New holiday, start from 2017
New Year's Day ^ Chinese New Year
Labour DayWesak DayKing/Agong's BirthdayHari Raya Aidilfitri *
National DayHari Raya Qurban *Malaysia DayAwal Muharam (Maal Hijrah)Deepavali *Prophet Muhammad's BirthdayChristmas Day
01 Jan@
28 Jan29 Jan01 May10 May03 Jun25 Jun26 Jun31 Aug01 Sep16 Sep21 Sep18 Oct01 Dec25 Dec
* Subject to change^ Except Johor, Kelantan, Kedah, Perlis and Terengganu@ The following Monday will be an additional public hoiliday
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2017
PHILIPPINES
New Year's DayChinese New YearEDSA People Power RevolutionAnniversaryAraw ng KagitinganMaundy ThursdayGood FridayBlack SaturdayLabor DayIndependence DayNinoy Aquino DayNational Heroes' DayAdditional Special Non-working DayAll Saint’s DayBonifacio DayChristmas DayRizal DayLast Day of the Year
01 Jan*28 Jan#
25 Feb#
09 Apr*13 Apr*14 Apr*15 Apr#
01 May*12 Jun*21 Aug#
28 Aug*31 Oct#
01 Nov#
30 Nov*25 Dec*30 Dec*31 Dec#
* Regular Holidays# Special Non-Working Days
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PUBLIC HOLIDAYS
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2017
SINGAPORE
SOUTH KOREA
New Year's DayChinese New Year
Good FridayLabour DayVesak DayHari Raya PuasaNational DayHari Raya HajiDeepavali *Christmas Day
01 Jan28 Jan29 Jan14 Apr01 May10 May25 Jun@
09 Aug01 Sep18 Oct25 Dec
* Subject to change.@ The following Monday will be a public holiday.
New Year's DayLunar New Year (Seol)Independent Movement DayBuddha’s BirthdayChildren’s DayMemorial DayLiberation DayNational Foundation DayFull Moon Day (Chuseok)Hangul Proclamation DayNational HolidayChristmas Day
01 Jan28 Jan01 Mar03 May05 May06 Jun15 Aug03 Oct04 Oct09 Oct20 Dec25 Dec
(Cont'd)
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2017
TAIWAN
Founding DayLunar New Year's EveLunar New Year's DayThe 2nd day of Lunar New Year The 3rd day of Lunar New YearThe 4th day of Lunar New YearThe 5th day of Lunar New YearPeace Memorial DayChildren's DayChing Ming FestivalExtra vacation day beforeDragon Boat FestivalDragon Boat FestivalMid-Autumn FestivalExtra vacation day beforeDouble Ten DayDouble Ten Day
01 Jan27 Jan28 Jan29 Jan30 Jan31 Jan*01 Feb*28 Feb03 Apr*04 Apr
29 May#
30 May04 Oct
09 Oct@
10 Oct
When the memorial day or holiday falls on a Saturday or Sunday, a deferred day off will be granted. If a memorial day or a holiday falls on a Saturday, the deferred day of is on the the preceding workday; if a memorial day or a holiday falls on a Sunday, the deferred day off is on the following workday. However, the deferred days off for Chinese New Year's Eve and Chinese New are always on the following workdays.The extra vacation days will have to be made up on the Saturday after the long weekends occur.The extra vacation days will have to be made up on the Saturday one week before the long weekends occur.
*
#
@
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PUBLIC HOLIDAYS
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2017
THAILAND
As both the New Year Day and Constitution Day in 2017 fall on Sunday, the day following them is designated as a general holiday in substitution; and as Makha Bucha Day, Asarnha Bucha Day, H.M. the Queen’s Birthday is 2017 falls on Saturday, the weekday after is designated as a general holiday in substitution.
*
New YearMakha Bucha DayChakri Memorial DaySongkran Festival
Labour DayCoronation DayWisakha Bucha DayAsarnha Bucha DayH.M. The Queen's BirthdayChulalongkorn DayH.M. The King's BirthdayConstitution Day
01 Jan*11 Feb*06 Apr13 Apr14 Apr01 May05 May10 May08 Jul*12 Aug*23 Oct05 Dec10 Dec*
(Cont'd)
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PRIME RATES
COUNTRYRATE (%)
4Q2014
4Q2015
4Q2016
Brunei
China**
Hong Kong
India
Indonesia
Macau
Malaysia^^^
Philippines
Singapore
South Korea+
Thailand#
United Kingdom
United States of America
Vietnam##
China** = 3-year Benchmark Lending RateMalaysia^^^ = Indicative Effective Lending RateSouth Korea+ = Call Rate of The Bank of Korea (Implementation date is Nov 22nd 2012)Thailand # = Minimum Loan Rate % per annum (avg based on local bank)Vietnam## = Min and in VND per year
5.50
6.15
5.00
10.25
7.75
5.25
6.85
4.360
5.35
2.00
7.28
0.50
3.25
9.00
5.50
4.75
5.00
9.65
5.50
5.25
4.35
4.36
5.35
1.24
6.97
0.25
3.50
9.00
5.50
4.75
5.00
9.95
5.50
5.25
4.65
4.510
5.35
1.50
7.10
0.50
3.25
9.00
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FINANCIAL FORMULAE
Future value of $1
Future value of $1 per period
Sinking fund (the amount required to be put away periodically to realise some future sum)
Present value of $1
Present value of $1 per period
Annuity with a PV of $1 (mortgage bond formula)
FV = PV (1 + i)n
FV = PMT [((1+i)n - 1) ÷ i]
PMT = FV [ i ÷ ((1 + i)n - 1)]
PV = FV [1÷ (1+i)n]
PV = PMT[((1+i)n -1)÷( i(1+i)n)]
PMT = PV[(i (1+i)n) ÷((1+i)n -1)]
PV = present value
FV = future value
PMT = payment amount
n = period (e.g. 10 years with monthly payments, n = 10 x 12 = 120)
i = interest rate per period
(e.g. 12% p.a. compounded monthly;
i = 12% ÷ 12 months = 1% per period)
IDD CODES AND TIME DIFFERENCES
Source : www.worldtimeserver.com ; www.worldtimezone.com www.timeanddate.com
LOCATIONIDD
COUNTRYCODE
AREACODE
TIMEDIFFERENCE
(Hours)*Australia: Melbourne 61 3 +3 Perth 61 8 0 Sydney 61 2 +3Bahrain 973 - -5Bangladesh (Dhaka) 880 2 -2Bhutan (Thimphu) 975 2 -2Brunei: Bandar Seri Begawan 673 2 0 Kuala Belait 673 3 0Cambodia (Phnom Penh) 855 23 -1Canada: Toronto (Metropolitan) 1 416 -13 Vancouver 1 604 -16China: Beijing 86 10 0 Guangzhou 86 20 0 Hong Kong 852 - 0 Macau 853 - 0 Shanghai 86 21 0 Shenzhen 86 755 0France (Paris) 33 1 -7India: Bangalore 91 80 -2.5 Chennai 91 44 -2.5 New Delhi 91 11 -2.5 Mumbai 91 22 -2.5Indonesia: Bali 62 36 0 Jakarta 62 21 -1Ireland: Cork 353 21 -8 Dublin 353 1 -8Japan: Tokyo 81 3 +1 Osaka 81 6 +1Korea (Seoul) 82 2 +1Korea (Pyongyang) 850 2 +1Laos (Vientiane) 856 21 +0.5
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* As compared to Hong Kong. Allowance should be made for seasonal time variations. Time differences above as at 1 January.
LOCATIONIDD
COUNTRYCODE
AREACODE
TIMEDIFFERENCE
(Hours)*Malaysia: Johor Bahru 60 7 0 Kota Kinabalu 60 88 0 Kuala Lumpur 60 3 0 Kuching 60 82 0 Penang 60 4 0Mongolia (Ulaanbaatar) 976 11 0Myanmar (Yangon) 95 1 -1.5Nepal (Kathmandu) 977 1 -2.25Netherlands: Amsterdam 31 20 -7New Zealand: Auckland 64 9 +5 Wellington 64 4 +5Pakistan (Karachi) 92 21 -3Philippines (Manila) 63 2 0Qatar 974 - -5Singapore 65 - 0South Africa: Johannesburg 27 11 -6 Cape Town 27 21 -6Sri Lanka (Colombo) 94 11 -2.5Russia (Moscow) 7 495 -5Taiwan (Taipei) 886 2 0Thailand: Bangkok 66 2 -1 Phuket 66 76 -1United Arab Emirates: Abu Dhabi 971 2 -4 Dubai 971 4 -4United Kingdom: London 44 20 -8 Edinburgh 44 131 -8USA: Los Angeles 1 213 -16 New York 1 212 -13Vietnam: Ho Chi Minh City 84 8 -1 Hanoi 84 4 -1
ARCADIS ASIA LEADERSHIP TEAM
Matt BennionChief Executive Officer, [email protected]
Eric de KruifChief Financial Officer, [email protected]
Graham KeanRegional Client [email protected]
Lai Pak HungRegional Head, Greater [email protected]
Rupert LeungManaging DirectorDesign & [email protected]
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Loo Ming CheeRegional Head, Southeast [email protected]
Alan HearnRegional Head, East Asia & [email protected]
Ken ButlerRegional Head of Health, Safety,Environment and [email protected]
Adam SuttonRegional HR and Change Directorand Regional Leader for [email protected]
ARCADIS ASIA SECTORS
AUTOMOTIVE
At the present time we are witnessing a massive shiftin the automotive sector. Electric vehicles are rapidly establishing themselves as a credible alternative as their range and performance meets (and exceeds) customer expectation. We are seeing more and more brands developing their own models across the region. In addition, the race for autonomous vehicles is leading to the development of new technologies at a pace that is unprecedented in the sector. We are helping our clients to restructure their manufacturing bases to meet shifting global demand, to remodel production lines for the new models demanded by customers, and to invest in the new supply chain technology.
Automotive retail continues to be fiercely competitive, with digital technology entering this space creating a more immersive buying experience. The race to roll out new retail formats around the globe requires lean and efficient delivery models and global standardization, supply chains and logistics.
AVIATION
The recent successful launches of new airframe technologies has caused airports to rethink how they can service larger passenger planes, and, with the prospect of new routes being enabled by longer range and new airframe formats, we expect to see further expansion and development of airports around the globe.
Domestic air travel and cargo hubs are also among popular areas of investment in aviation sector. Invest-ment in domestic air travel is essential, as passengers demand an experience comparable with the best international airports. New cargo hubs are planned to meet ‘same day’ delivery expectations from online retailers and logistics firms. We expect to see continued investment and demand for high quality design and engineering solutions in the aviation sector for many years to come.
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CHEMICALS & PHARMACEUTICALS
The chemical and pharmaceutical industry faces a diverse range of challenges across globe. Growing andageing populations have created rising demands for medication and more effective cures for diseases. Asia is no exception, despite Asia having a relatively younger population compared the other regions. It is also import-ant to take note that approximately two thirds of total global demand growth for chemicals is expected to be generated in Asia.
In order to stay ahead of the competition, we work with our clients across Asia to improve their supply chain and secure their pipelines. The chemicals and pharmaceuti-cals industry will continue to be ‘on the move’ to Asia with rapid development in the future to fulfill demand coming from Asia and beyond.
COMMERCIAL DEVELOPERS
Commercial developers are a significant proportion of our market in Asia, especially in those countries where the economy is driven by investment in property. In the last 10 years China, for example, has been fuelled by demand for properties as a result of rapid urbanization, and this is also now the case in countries such as Vietnam and the Philippines.
All building types, including commercial offices, residen-tial, leisure, hospitality and retail, are confronted with ever increasing challenges in terms of efficiency of land use, planning compliance, product positioning, cost, quality, impact on communities, sustainability and also market competitiveness. The commercial developer sector will continue to play a key role in all economies across Asia.
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ARCADIS ASIA SECTORS
FINANCIAL INSTITUTIONS
Driving better investment and asset performance and improving sustainable returns in current challenging markets is the key focus of our sector specialists.
Through utilizing unique market insight, such as our global asset performance benchmarks, our deep technical knowledge, and an unrivalled global track record in working with financial institutions, we are able to define solutions to meet client needs and to enhance their business outcomes.
OIL AND GAS
Rising production costs and unpredictable prices put oil & gas clients under more pressure than ever. Growing complexities of shifting environmental legislation combined with an increased need for asset decommissioning, oil & gas has become a complex and rapidly evolving sector.
We partner with global oil & gas clients to maximize returns on our clients’ investments, through better management of project risks and costs, and improvement of opex performance. We work across the asset lifecycle from concept through to decommissioning. We bring together upstream & downstream expertise and understanding from a broad base of capabilities including cost & risk management, environmental management, project management and maintenance strategy.
RAIL
Rapid large scale urbanization, tight budgets and environmental sensitivity require innovative approaches to deliver advanced infrastructure. With our expertise in rail, and our transformational thinking, clients rely on us to improve performance and connect communities across countries and regions.
In Asia, we have been involved in providing engineering
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design, cost management, contract administration, risk management, business advisory and mobility oriented design for numerous metro and high speed rail projects in Hong Kong, Mainland China, Taiwan, Singapore and Malaysia.
PORTS AND WATERWAYS
Ports are at the heart of globalization, facilitating the spread of trade and prosperity. The rapid growth of Asia has seen a substantial investment in port and logistics infrastructure, but also increasing competition between ports, and a focus on raising productivity and service quality. At the same time, it is increasingly necessary to respond to public concerns about environmental and safety issues.
Delivering sustainable growth is a great challenge andrequires know-how and expertise across a broad range of disciplines. We offer governments, port institutions, private terminal operators, investors and shipping lines all the disciplines necessary for an integrated approach and the delivery of successful outcomes, whether in the technical, operational, nautical, environmental, risk, financial or economic arena.
RETAIL & CONGLOMERATES
As the world of retail faces the fiercest competition yet due to a change in the traditional retail landscape and the rapid development of online retail industry, we work with our retail clients to gain a competitive advantage in their market expansion or re-branding. It is essential for us to tailor our services to fit client strengths and needs, to minimize spend and achieve the best solution for each individual company.
With unrivaled experience across all facets of retail development, from luxury and sports fashion to cosmetics, supermarkets and restaurant chains, we help our clients successfully navigate through complex challenges in retail development.
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ARCADIS ASIA SERVICES
BUSINESS ADVISORY
From rapid urbanization and pressure on natural resources, to tighter regulation and market consolidation, we live in an increasingly complex world. In Arcadis you have a partner that understands your business challenges and has first-hand experience of the assets you own and operate. We bring unique insights which support you in getting better results with more certainty.
COST MANAGEMENT
Be it a high-rise office building, a state-of-the-art rail station or a large scale industrial development, the need to achieve value for money is central to every investment strategy.
Our people understand the need to accurately advise on costs and procurement at planning stage, ensuringa development or program is both economically and environmentally viable for many years to come.
ENVIRONMENT
We all deserve a clean, safe environment in which to live. Now more than ever, businesses and governments recognize the need to incorporate environmental concerns into their decision making. Arcadis is a global leader in inventive technical and financial approaches, helping some of the world’s leading corporates and governments understand their impact on the natural world.
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PROJECT & PROGRAMME MANAGEMENT
Organizing the creation of the world’s largest, most complex and iconic programs of work in the built and natural environment today is no easy task. Budgets, supply chains, health and safety, timeframes and the large number of parties involved can be daunting.
At Arcadis, we work alongside our clients to create the right strategy, manage and mitigate risk, and assure the outcomes to meet our clients’ business objectives and create exceptional value.
WATER
From source to tap and then back to nature, the planet’s most precious resource should be cherished.
Thanks to over a century of experience in the water sector, Arcadis’ specialist teams around the globe are uniquely positioned to provide safe and secure water technology that is built to withstand the demands of a rapidly changing world.
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Arcadis Vietnam Co., Ltd would like to acknowledge the invaluable support and advice from the following organisations:
ACKNOWLEDGEMENT