Ministry of Construction: Action needed against material hoarding and speculation

Noting that the construction price index does not reflect the actual market, the Ministry requested provinces and cities to quickly adjust and control hoarding and price manipulation.

The Ministry of Construction has just sent a document to the People’s Committees of provinces and cities on strengthening the management and publication of material prices and construction price indexes. The agency requested localities to enhance stabilization and control of material prices, especially steel, cement, sand, construction stone, asphalt… Units also need to strictly handle hoarding and manipulation of material prices.

According to the Ministry of Construction, over the past time, some localities have delayed the publication of construction price indexes. Some places have only published up to the fourth quarter of 2025 so far, such as Ho Chi Minh City, Tay Ninh, Lam Dong, Khanh Hoa, Quang Tri, Tuyen Quang…

The Ministry noted that the prices of some materials like sand and construction stone do not correctly reflect actual market developments, affecting the management of construction investment costs. The agency pointed out that fuel prices, such as diesel, have decreased compared to before. Provinces and cities need to increase inspection, market surveys, and review construction material prices to promptly adjust and publish price levels consistent with actual developments.

This solution aims to ensure the progress and investment efficiency of key projects while achieving high economic growth targets.

Long Thanh Airport construction site, March 2026. Photo: Quynh Tran

According to the Vietnam Association of Road Traffic Investors (VARSI), recently, the prices of essential construction materials such as sand, stone, cement, and steel in many localities have risen sharply due to transportation and production costs being driven up by fuel prices. In some southern regions, the supply of materials is unstable, and speculation and resale have occurred, pushing prices up, in some cases 1.3 to 1.5 times higher than the prices published by local authorities.

Similarly, the Vietnam Association of Construction Contractors (VACC) said that the material market has fluctuated strongly since the beginning of the year. Many material groups have seen sudden price increases due to the impact of geopolitical developments in the world, especially the conflict in the Middle East. Meanwhile, the unit prices of construction materials published by localities are also about 15-20% lower than the actual purchase prices. “This not only increases costs but also puts great pressure on the progress of many projects,” VACC stated.

At the end of April, the National Assembly finalized a public investment plan of 8.22 quadrillion VND for the next 5 years, which is 2.7 times higher than the implementation in the 2021-2025 period. Previously, the National Assembly also approved the investment policy for 5 key national projects in the next 5 years with a capital requirement of more than 1.1 quadrillion VND.

According to many experts, a series of expressway, airport, urban ring road, logistics, and energy infrastructure projects being implemented simultaneously has driven up the demand for construction materials, making it difficult for this market to cool down in the near future.