Construction contracts to be adjusted amid surging material prices
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The Ministry of Construction in Vietnam has issued guidance for adjusting construction contracts due to nearly doubled material prices since early 2026. Local authorities are instructed to help investors and contractors amend prices based on legal regulations, particularly in cases of force majeure or fundamental changes in contract execution. With 44 key projects totaling approximately VNĐ569 trillion, the ministry warns that a 100% increase in fuel prices could raise construction costs by VNĐ42.3 trillion, impacting the State budget. Local departments are urged to monitor market trends and publish material prices regularly.
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