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MINISTRY OF
CONSTRUCTION
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SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No. 14/2019/TT-BXD
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Hanoi, December
26, 2019
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CIRCULAR
PROVIDING
INSTRUCTIONS ON DETERMINATION AND ADMINISTRATION OF CONSTRUCTION PRICE INDICES
Pursuant to the Government's Decree No.
81/2017/ND-CP dated July 17, 2017, defining the functions, tasks, powers and
organizational structure of the Ministry of Construction;
Pursuant to the Government’s Decree No.
68/2019/ND-CP dated August 14, 2019 on administration of investment and
construction expenses;
Upon the request of the Director of Institute of
Construction Economics and the Director of Construction Economics Department;
Minister of Construction hereby promulgates the
Circular as a manual for determination and administration of construction price
indices.
Chapter I
GENERAL PROVISIONS
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1. Scope of application: This Circular provides
instructions for determination and administration of construction price indices
for the purposes of identifying and adjusting total investment, construction
cost estimates, construction package prices, contract value, converting
investment capital and managing investment costs.
2. Subjects of application:
a) Entities and persons involved in determination
and administration of construction price indices of investment and construction
projects funded by state budget and non-budgetary capital, and other
public-private partnership (PPP) investment projects.
b) Other entities and persons are encouraged to
apply this Circular to determination and administration of construction price
indices for projects funded by other capital sources.
Article 2. Classification of
construction price indices
1. Price indices, including:
a) Construction price index by a building type
refers to an indicator showing the extent of fluctuation in total cost of a
classification of construction works or projects over time.
b) Construction price index by cost structure,
including construction cost index referring to an indicator showing the level
of fluctuation in costs of construction activities over time; equipment cost
index referring to an indicator showing the level of fluctuation in costs of
building equipment used in a construction work over time; other cost index
referring to an indicator showing the level of fluctuation in several costs,
e.g. project management and investment consulting and other costs, of a
construction work over time.
c) Construction price index by cost factor,
including building material cost index referring to an indicator showing the
level of fluctuation in costs of building materials used in a construction work
over time; building labor cost index referring to an indicator showing the
level of fluctuation in costs of personnel working for a construction work over
time; building machinery and equipment cost index referring to an indicator
showing the level of fluctuation in costs of machines and equipment items for
use at a construction work over time.
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2. With respect to a particular construction
project, calculation of all or some indices stated in clause 1 of this Article
shall depend on purposes and requirements of administration of investment and
construction expenses.
Article 3. Principles for
determination and administration of construction price indices
1. Once already being determined, a construction
price index must reflect any fluctuation in local market prices in a fair and
appropriate manner.
2. Determination and public disclosure of
construction price indices must be timely and conformable to regulations on
administration of construction investment expenses.
3. It shall be obliged that a particular list and
quantity of representative construction works are defined before calculation
and public disclosure of a construction price index.
4. A construction price index is calculated
according to a mean formula during the specified period of time without taking
into account several costs of compensation, support and resettlement, lending
interest incurred during construction period and initial outlay. A construction
price index is expressed in percent (%).
5. Cost structure used for calculation of
construction price indices must correspond to the cost structure covered by
regulations on administration of construction investment expenses, be based on
statistical data and be used in a stable manner until there is any change in a
benchmark point of time.
6. Management and use of construction price indices
must comply with regulations related to management of construction investment
expenses.
7. During the process of determining price indices,
entities specialized in construction need to carry out review and assessment of
these price indices by using information about those of adjacent regions or
localities in order to ensure they adapt to tendencies of fluctuation in the
regional market and there is none of great difference between local price
indices.
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DETERMINATION OF
CONSTRUCTION PRICE INDICES
Article 4. Steps
1. Determining the calculation point of time, including
the benchmark and comparison points of time.
2. Making a list of construction price indices in
question and choosing input factors.
3. Collecting and processing data and figures
needed for calculation of construction price indices.
4. Determining construction price indices.
Article 5. Time
1. Time of determination of construction price
indices to be publicized by provincial-level People’s Committees shall include:
a) Benchmark point of time is the year 2020.
Ministry of Construction shall update their regulations on time of
determination of construction price indices in case of any change in the
benchmark point of time so that they are adjusted to local contexts.
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2. In order to determine a price index for use in a
particular construction project, the project owner shall rely on progress and
conditions for implementation of that project to decide on the proper benchmark
or comparison point of time.
Article 6. Listing of
construction work or project classifications and selection of input cost
factors
1. Quantifying and listing out classifications of
construction works and projects by their types before publication thereof shall
be subject to administration requirements, regulations on administration of
investment and construction projects as well as construction investment
expenses, and particular characteristics of local construction projects.
Provincial-level People’s Committees shall rely on the Classification List of
construction works or projects in Appendix 3 hereto to decide to choose the
classification list of construction works or projects as subjects of
calculation of construction price indices to be publicized within their remit.
2. In order to calculate a construction price index
for a type of construction work or project, it shall be obliged that
construction works or projects typical for such type must be chosen. The number
of construction works or projects typical for a building type shall be
determined, depending on particular local conditions, but shall not be less
than 3. Typical construction works or projects are those commonly developed out
of others of the same type at a locality.
3. If a price index is determined for a particular
construction work or project, such work or project is a typical one.
4. Typical input cost factors are costs of main
building materials, labor and machinery used by a single construction work or
project, or construction works or projects of the same type. Main building
materials, labor or machines are selected for the purpose of calculation of
construction price indices according to the principles in which costs thereof
must be greater in proportion than costs of corresponding ones used for
construction works or projects (80% in total).
Article 7. Collection and
processing of data and figures needed for calculation of construction price
indices
1. Requirements concerning collection of data and
figures needed for determination of cost structures:
a) Data about construction investment expenses,
including total investment, cost estimates, finalization of construction
investment costs incurred upon completion of construction works or projects (if
any), which obtain approval must include expense-related entries and accounts.
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2. Requirements concerning information about market
prices of input factors:
a) Costs of building materials: Building material
costs shall be calculated as per Ministry of Construction’s Circulars providing
instructions on computation and administration of construction investment
expenses. Building materials qualified to be listed as input values for use in
calculation of construction price indices must be identical in terms of their
types, formations and product markings or labels. As for calculation of
construction price indices for construction works, building material costs
shall be the same as those specified in local notices. If there is none of such
local notices, these costs shall be market costs which are relevant to
construction sites and appropriate in terms of types, formations, markings and
labels of building materials used in these construction works, and conform to
requirements concerning determination of building material costs in accordance
with Ministry of Construction’s Circulars providing instructions on
determination and administration of construction investment expenses.
b) Construction labor costs shall be calculated
according to unit labor costs publicized by provincial-level People’s
Committees. If there is none of public notices of such unit labor costs from
provincial-level People’s Committees, construction labor costs shall be
determined according to the method of determination of construction labor cost
that is specified in the Ministry of Construction’s instructions.
c) Building machinery and equipment cost per shift
may be determined according to machinery costs per shift, or costs of hiring of
building machines and equipment, which are publicized by provincial-level
People’s Committees. If there is none of public notices of the latter from
provincial-level People’s Committees, the former shall be determined according
to the method of determination of building machinery and equipment costs per
shift that is specified in the Ministry of Construction’s instructions.
Machines and equipment qualified to be listed as input values for calculation
of construction price indices must be identical in terms of their type,
capacity and origin.
3. Processing of data used for calculation of
construction price indices:
a) Processing of figures and data used for
determination of cost structure: Processing of collected data and figures shall
include review, checking and correction of data, figures and estimated cost
structure. Figures related to estimated cost structures must be converted according
to the estimated cost structures regulated at the benchmark point of time. Data
on total investment, cost estimate and final accounts of costs incurred upon
completion of construction and investment projects (if any) must be converted
to price levels determined at benchmark points of time.
b) Processing of information about input costs:
Collected figures and data pertaining to input costs must be checked, reviewed
and corrected in the following specific regulations: Costs of input materials
of different kinds must be checked to ensure conformity in terms of their
types, formations, markings and labels. Costs of input labor of different kinds
must be checked to ensure conformity in terms of construction labor classes and
ranks. Costs of machinery and equipment of different kinds per shift must be
checked to ensure conformity in terms of their type, capacity and origin.
Article 8. Methods of
calculation and determination of construction price indices
1. Construction price index shall be defined as the
weighted geometric mean of rates of price (construction price index)
fluctuation in typical input factors and corresponding weight values.
Calculation of construction price indices shall be subject to instructions
given in Appendix No. 1 hereto.
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3. Regional construction price index shall be
defined as the weighted geometric mean of construction price indices for use at
provinces or centrally-affiliated cities within a region and corresponding
weight values.
4. National construction price index shall be
defined as the weighted geometric mean of construction price indices for use in
specific regions and corresponding weight values.
5. Price index for a particular construction work
shall be determined on the basis of cost structure of that construction work
and input costs (or price indices) provided that it such index is relevant to
work conditions and construction sites.
6. Cost structure used for calculation of a
construction price index qualified to be adopted as a basis for contract value
adjustment shall be based on contractual price structure. In case of lack of details
necessary for determining the cost structure according to the contract value,
such index shall be determined according to construction package cost estimate
or construction cost estimate which has already been approved.
Chapter III
ADMINISTRATION OF
CONSTRUCTION PRICE INDICES
Article 9. Authority over
determination and calculation of construction price indices
1. Ministry of Construction shall be authorized to
calculate and determine regional (inter-provincial) and national construction
price indices.
2. Provincial-level People’s Committees shall
authorize specialized construction authorities to take control of determining
construction price indices under clause 1 of Article 2 herein.
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Article 10. Promulgation and
public disclosure of construction price indices
1. Authority and frequency of promulgation and
public disclosure of construction price indices:
a) Regional and national construction price indices
shall be promulgated by the Ministry of Construction on a quarterly and yearly
basis by using the table 1.1 in Appendix 4 herein.
b) Other construction price indices specified in
clause 1 of Article 2 herein shall be publicized under the authority of
provincial-level People’s Committees on a monthly, quarterly and yearly basis
according to tables 1.2, 1.3, 1.4 and 1.5 in Appendix 4 herein.
2. Time of promulgation and public disclosure:
a) Construction price indices publicly disclosed on
a monthly basis shall be publicized in the third week of the following month.
b) Construction price indices promulgated and
publicly disclosed on a quarterly basis shall be publicized in the third week
of the first month of the following quarter.
b) Construction price indices promulgated and
publicly disclosed on a yearly basis shall be publicized in the third week of
the first month of the following year.
3. Manners of promulgation and public disclosure of
construction price indices:
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b) Construction price indices promulgated under the
authority of provincial-level People’s Committees shall be publicized on
websites of local construction authorities not later than 2 days after receipt
of the approval decision.
Chapter IV
IMPLEMENTATION
PROVISIONS
Article 11. Responsibilities
of the Ministry of Construction
1. Guiding, inspecting and pushing localities to
carry out calculation, determination and public disclosure of construction
price indices as provided herein.
2. Providing training courses in determination and
administration of construction price indices.
3. Retaining information about construction price
indices of centrally-affiliated cities and provinces which is necessary for
their administration, control and development of transparent markets.
4. Promulgating regional (inter-provincial) and
national construction price indices.
Article 12. Responsibilities
of provincial-level People’s Committees
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2. Authorizing their specialized construction
affiliated agencies to perform the following activities:
a) Preside over and cooperate with other relevant
units in taking into consideration instructions given in this Circular and
situations of construction price fluctuation at localities in carrying out
determination and calculation of construction price indices that they could be
made available to the public. Where necessary, they may hire a competent cost
management counseling body designated in accordance with regulations in force
to determine and calculate construction price indices. This body shall be
legally liable for quality of their services.
b) Take charge of regular oversight of information
about local construction market prices; update, store and send Ministry of
Construction information about local construction market prices on a monthly
basis.
3. Publicly disclose construction price indices on
a monthly, quarterly or yearly basis, and send them to the Ministry of
Construction for its supervision and control. Time of public disclosure of
construction price indices prescribed herein shall start from January 2021. In
2021, in order to carry out conversion of construction price index values in
case of any change in the benchmark point of time, publicize construction price
indices by types of construction works or projects, cost structures and cost
factors with the benchmark year 2020 in accordance with regulations laid down
herein and other point of time selected in accordance with the Circular No.
06/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction. Methods of
conversion of construction price index values employed in case of any change in
the benchmark point of time shall be subject to regulations in Appendix No. 2
hereto.
Article 13. Responsibilities
of owners of construction works or projects
Taking charge of determination and calculation of
construction price indices as provided in clause 3 of Article 9 herein in order
to ensure objectivity, accuracy and conformity to administrative requirements,
and bearing their sole responsibility for use thereof. Where necessary, they
may hire a competent cost management counseling body designated in accordance
with regulations in force to determine and calculate construction price
indices. This counseling body shall be responsible to the owner of construction
work or project and laws for accuracy and rationality of construction price
indices that they have determined and calculated.
Article 14. Transition
provisions
1. Ongoing determination and use of construction
price indices shall be subject to regulations laid down in Article 36 in the
Government’s Decree No. 68/2019/ND-CP dated August 14, 2019 on administration
of construction investment expenses.
2. During the period of pending determination of
cost structures at benchmark points of time prescribed herein, construction
authorities can continue to calculate, determine and publicly disclose
construction price indices according to the methods regulated in the Circular
No. 06/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction, and
then submit them to provincial-level People's Committees to put them to use
till 2020.
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1. This Circular shall enter into force on February
15, 2020.
2. Regulations regarding construction price indices
specified in Article 20, 21, 22, 23 and 24 in the Circular No. 06/2016/TT-BXD
dated March 10, 2016 of the Ministry of Construction, providing instructions on
determination and administration of construction investment expenses, shall be
abolished from this Circular's entry into force.
PP. MINISTER
DEPUTY MINISTER
Bui Pham Khanh