In particular, HBG also came first among top 10 reputable building contractors in 2020, followed by Viglacera Corporation and Vicostone JSC, according to an independent survey released by Vietnam Report in early June.

The rankings are based on studies of multiple financial factors, corporate reputation on the media and surveys of experts in the industry.

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According to the survey, 73.9 percent of companies questioned said they believed 2020 would be a difficult year while 13 percent were optimistic the construction and building material industry would see growth this year. Some 4.3 percent said that the industry would maintain stability compared to 2019.

Notably, about 8.7 percent of the respondents said it is likely that the real estate market would experience a slowdown in the first half of the year and make a comeback in the second half as the COVID-19 pandemic is brought under control.

A survey by the General Statistics Office found that up to 47.5 percent of firms said they were struggling, 33.7 percent maintained stable production and 18.8 percent saw better performance in the first quarter of this year.

During the period, the construction and building material sector reported revenue and after-tax profit declining 9.5 percent and 10.2 percent, respectively due to the impacts of COVID-19.

Source: VNA