Construction firms optimistic about business performance in Q3

About 22.7 percent of construction firms said they performed better in Quarter 3 while 40.9 percent said their business remained stable, according to the General Statistics Office (GSO).

Illustrative photo (Photo: VNA)

Meanwhile, 36.4 percent of surveyed firms thought they had a more difficult period.

The result is based on a survey conducted by the GSO on 5,500 enterprises engaged in construction activities across the 63 cities and provinces nationwide.

According to the survey, 66 percent of state-run enterprises said their business situation during July-September was either better than or stable compared to the previous quarter.

The rate for the non-State sector was 63.3 percent and 64.6 percent among FDI companies.

The survey also indicated that 48.7 percent of the businesses said their total production costs remained stable or reduced, while 51.3 percent said their costs increased.

Regarding employment demand, 81.5 percent of the firms said their workforce remained unchanged or expanded, and 18.5 percent said they needed fewer employees.

In a bid to promote business activities in the end of the year, construction firms said competent authorities should shorten inspection time, and cut unnecessary administrative procedures that trouble the firms, including the number of monthly and quarterly reports.

Besides, they suggested more transparency in bidding process for projects funded by the State budget, and acceleration of capital disbursement for completed construction.

They recommended commercial banks reduce lending procedures, cut assessment time, and create more favourable conditions for businesses to get access to capital.