HANOI, Dec. 18 (Xinhua) -- Vietnam's construction industry is estimated to expand at around 7.8 percent to 8.2 percent this year, the highest rate since 2020, Vietnam News cited the Ministry of Construction on Wednesday.

The sector is set to contribute around 6.4-7.3 percent to the country's gross domestic product (GDP), said the ministry's chief officer Ngo Lam.

The urbanization rate in 2024 is estimated at 44.3 percent, higher than the National Assembly's target of 43.7 percent, he said.

The ministry has set the target for urbanization rate of at least 45 percent and more than 100,000 social housing units to be completed next year.