The Vietnam Association of Road Transport Infrastructure Investors (VARSI) has proposed that the Prime Minister direct relevant ministries and agencies to promptly address difficulties caused by sharply rising fuel and construction material prices, as well as supply shortages, in order to reduce the risk of delays in major transport projects.
According to VARSI, fuel prices used for construction have exceeded VND30,230 (US$1.14) per liter, up about 72 percent compared to the beginning of the year. In addition, supply in many localities is insufficient to meet demand, while some fuel stations have refused to sell large quantities to contractors.
The association noted that rising fuel prices have driven up the costs of materials, machinery operation, labor, and construction services. In some Southern localities, construction materials are being sold through intermediaries at prices 1.3 to 1.5 times higher than officially announced rates.
VARSI said many sites have been forced to suspend or slow work, making it difficult to sustain the “three shifts, four crews” model and delaying progress on key projects.
The association has urged the Government to promptly update and adjust construction price indices, fuel prices, and material costs in line with market conditions; consider mechanisms to revise contract prices and extend timelines for heavily affected projects; and ensure fuel supply while tightening controls on speculation and price manipulation in construction materials.
