In 2019 and by early 2020, Vietnam’s urbanization rate is expected to reach about 40%, according to Chairman of the Vietnam Urban Development Association Tran Ngoc Chinh.

With such a rapid growth rate, until the 40s of the 21st century, about 50% of Vietnam's population will live in urban areas, Chinh added.

Deputy Minister of Construction Le Quang Hung said that the urbanization rate in the country by 2018 reached 38%, an increase of 0.9 percentage points compared to 2017. The country currently has 819 cities (six cities more than 2017).

The rate of urban construction planning reaches 100%, subdivision planning is about 78%, detailed planning is about 39% (up 2% compared to 2017), rural construction planning reaches 100% (up 0.6% compared to 2017), Hung added.

He stressed that the increase in urbanization in 2018 has helped real estate and construction materials market achieve positive growth. In 2019, the Ministry of Construction will focus on perfecting the legal system on construction investment, ensuring consistency and uniformity, reforming administrative procedures and simplifying business conditions.

Also according to Deputy Minister Le Quang Hung, his ministry will focus on controlling development of real estate and construction materials market in a sustainable way, ensuring interconnection with other markets in 2019.

Hanoitimes