Hanoi (VNA) – The Hoa Binh Construction Group (HBG)has been named in the list of top 10 prestigious construction and buildingmaterials companies selected by the Vietnam Report JSC.

In particular, HBG also came first among top 10 reputable buildingcontractors in 2020, followed byViglacera Corporation and Vicostone JSC, according to an independentsurvey released by Vietnam Report in early June.

The rankingsare based on studies of multiple financial factors, corporate reputation on themedia and surveys of experts in the industry.

According to the survey, 73.9 percent of companiesquestioned said they believed 2020 would be a difficult year while 13 percentwere optimistic the construction and building material industry would seegrowth this year. Some 4.3 percent said that the industry would maintainstability compared to 2019.

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

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

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