Cyprus-based Avia Solutions Group (ASG), a global aerospace business group, wants to expand investments in Vietnam by establishing airplane maintenance facilities, training aviation personnel and aviation services, according to Gediminas Ziemlis, ASG President.

Deputy Prime Minister Vuong Dinh Hue (R) and ASG President Gediminas Ziemlis. Source: VGP.

In addition to the huge potential of Vietnamese aviation market, ASG may also look for opportunities in railway transportation in the country, said Ziemlis in a meeting with Deputy Prime Minister Vuong Dinh Hue on January 15.

Currently, ASG has opened BAA Training Vietnam, a flight simulator training center in Ho Chi Minh City with investment capital of US$63 million, as well as airplane rental services to airlines in Vietnam.

Deputy PM Hue welcomed ASG’s investment initiative, saying the Vietnamese government has been implementing measures to create a favorable business environment which is compatible with international standards.

Hue said Vietnam would continue to privatize state-owned enterprises, which is a favorable condition for financial investors such as ASG to join this process in areas the company has interests in such as aviation, railway, banking and pharmacy, among others.

Over the past few years, Vietnam’s aviation market has been sustaining a two-digit growth rate, while the introduction of new airlines has also put high quality personnel in the industry on high demand.