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“10 billion USD in 2015 to 25 billion USD in 2025”
Vietnam’s hectic scene of modernization and industrialization has benefited some particular industries, one of which is electrical construction. Factories, airports, shopping complexes, everything needs switches and light bulbs.
It has been suggested that electrical construction account for ¼ of general construction’s total market value, which will rise from 10 billion USD in 2015 to 25 billion USD in 2025. Proportionally, electrical construction’s market value should increase from 2.5 billion USD to 6.25 billion USD in the same period.
Such CAGR of 10.9% over the next decade is an impressive piece of statistics, signaling a good time ahead for electrical construction industry.
Naturally, even for the most evenly positive state or situation, there are certain points that require extra attentions.
The first point is infrastructure renovation movement in Vietnam’s rural areas. In around 9,000 communes across the country, a lot of stuff needs to be upgraded, and a lot of other stuff needs to be built: roads and bridges, markets and houses, schools and hospitals.