This practice plays a vital role in stabilizing the market and ensuring the progress and efficiency of various projects. Recently, construction material prices in the province have trended upward, driven by factors such as fuel prices, transportation costs, supply availability, and local mining conditions.

In Điện Biên, where the terrain is fragmented and many areas are remote, transportation costs represent a significant portion of the total price. When fuel prices rise, transport expenses increase, making the price of materials at the construction site substantially higher than at the production source.

Surveys indicate that construction stone 4x6 is hovering near VND 300,000 per m³, while rubble stone is approximately VND 200,000 per m³ depending on the region. Stone dust is commonly priced between VND 213,000 and over VND 268,000 per m³. Notably, sand prices are significantly higher, with concrete sand at certain mines ranging from VND 342,000 to VND 382,000 per m³, and masonry or plastering sand fluctuating between VND 355,000 and VND 400,000 per m³. Finishing materials like aluminum, glass, electrical equipment, and plastic pipes also maintain relatively high price points.

These price fluctuations directly impact the implementation of construction projects. For state-funded projects, when material costs exceed initial estimates, investors must review and adjust the total investment or seek additional capital from authorities. This process not only extends the project timeline but also slows down the disbursement of public investment capital. In some cases, construction must be delayed or suspended while waiting for budget adjustments, leading to wasted resources. Minh Khôi Investment and Development Co., Ltd. is currently working on several projects, including the Nà Bủng multi-level school in a remote area, and has faced difficulties because the actual costs for sand, stone, and steel have surged far beyond the initial plans.

The impact is even more visible in the private sector, where housing and business construction depend on the personal finances of residents and enterprises. Nguyễn Văn Nam from Mường Thanh ward shared that his family was building a 3-story house but had to scale back because the cost of steel, sand, and transport rose by hundreds of millions of VND compared to the original estimate. Consequently, they had to prioritize the main structure and will finish other components only when they have more funds.

Effective state management is essential to address these challenges. Publicizing transparent price information allows investors and contractors to adjust their budgets appropriately. Nguyễn Minh Lượng, Vice Director of the Department of Construction, stated that the department is coordinating with relevant agencies to strictly handle speculation and unreasonable price hikes. They are also accelerating the periodic review and announcement of material prices and construction price indexes to match market realities. These announcements are based on price reports from commune and ward offices combined with direct market surveys.

For instance, a price announcement on March 27 showed that 2x4 stone from Hoàng Anh Trade and Service Co., Ltd. was priced at VND 289,000 per m³, while 0.5x1 stone from Hưng Long Trade Investment JSC was VND 288,000 per m³ at the production site. Hòa Phát steel (phi 6 and 8) ranged from VND 15,431 to VND 17,000 depending on the location, and phi 8 steel from VAS Nghi Sơn Group JSC was VND 14,070 per kg. Cement prices also varied, with Bút Sơn PCB 30 ranging from VND 1,455 to VND 1,713 per kg and Điện Biên PCB 30 fluctuating between VND 1,409 and VND 1,709 per kg. Ultimately, while price changes are an objective part of the economy, timely updates remain the “key” to stabilizing the market and fostering sustainable socio-economic development.