Vietnam plans to raise $ 15.8 billion to build and expand airports over the next 10 years, according to the Vietnam Civil Aviation Authority (CAAV), with an additional $ 37 billion to be spent between 2030 and 2050.
The new construction projects include the first phase of Long Thanh International Airport to serve Ho Chi Minh City, Sa Pa Airport in the northern province of Lao Cai and Quang Tri Airport in the center of the country. .
Existing airports to expand include Tan Son Nhat International Airport in Ho Chi Minh City, Noi Bai International Airport in Hanoi, Da Nang International Airport and Cam Ranh International Airport near the port. south of the same name.
The biggest projects are Long Thanh (see below) and the Noi Bai expansion, which are expected to cost around $ 5 billion each.
The expansion of Tan Son Nhat, Da Nang and Cam Ranh airports is expected to cost more than $ 5 billion in total.
Part of the funding for the works will come from state loans and grants, but also from private investments and public-private partnerships.
CAAV proposed that the government approve low-interest loans, guarantee bank loans, and issue favorable tax and land policies to attract private investment in the aviation industry.
The VnExpress news site city Tran Quang Chau, vice president of the Vietnam Association of Aviation Science and Technology, said private investment would be essential to meet the financing needs of the projects.
Hoang Van Cuong, a member of the National Assembly’s Finance and Budget Committee, said state coffers should only be used for essential elements of projects, such as track construction and mine clearance.
He added that private investment should be sought for terminals, storage facilities and aprons.
Image: Noi Bai International Airport, near Hanoi (Tycho /CC BY-SA 3.0)