Visitors attend BuildTechAsia 2013 in Singapore. — VNS Photo Courtesy from Building and Construction Authourity of Singapore.

HCM CITY (Biz Hub) — Vietnamese construction-related enterprises will team up with enterprises from more than 11 countries and territories for the fourth annual construction exhibition BuildTech Asia 2014 which will take place from October 14 to 16 this year.

 

Besides representatives from Viet Nam, enterprises from other 10 countries and territories, namely Australia, China, Germany, Hong Kong, Indonesia, Ireland, Malaysia, Korea, Singapore and Taiwan, will also showcase their products.

According to the organiser, in Asia, Viet Nam's building and construction market has much room for further development.

The country's building and construction industry output is expected to record a compound annual growth rate of 11.43 percent between 2014 and 2018, due to the government's focus on industrial and residential construction.

To meet the increasing demand for the industry, several leading Viet Nam organisations such as Sai Gon Construction and Building Material Association, Viet Nam Electrotechnical Industry Association, Viet Nam Glass Association, Viet Nam Steel Association, and Vie^.t Nam Electronic Industries Association have pledged their support to BuildTech Asia 2014 to meet and network with key industry players in order to further growth of the building and construction industry in Viet Nam, a press release said.

According to the Foreign Investment Agency, Viet Nam's building and construction industry was the second largest recipient of foreign direct investment (FDI) with a total capital of VND10. trillion (US$465.4 million) for the first half of 2014.

Asia continues to lead the world's construction markets, with more than 40 per cent share of the global construction market that is projected to increase to almost half of global construction spending by 2020.

The exhibition hosted by the Building and Construction Authority of Singapore is a regional trade show for the built environment sector. It brings to life leading-edge technologies and innovations that are reshaping the future of the industry. — VNS