CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment
Vietnam allocates US$4.7 billion for Phase 1 construction of new mega airport
Ngoc Mai 11:07, 2019/10/18
During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually.
Total investment capital for the construction of Long Thanh International Airport is estimated at VND111.69 trillion (US4.77 billion) in the first phase, according to Minister of Transport Nguyen Van The. 
 
Illustrative photo.
Illustrative photo.
The capital is allocated to cover construction fee, equipment, contingency costs due to price slippage factors, and interest rates, among others, The said at a hearing held by the National Assembly (NA)’s permanent committee on October 17. 

During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually, as well as other facilities, said The. 

Following the pre-feasibility study of the airport, the construction of the first phase covers an area of 1,165 hectares, while the consultant proposed to expand the area to 1,810 hectares to add a logistics center, cargo station for fast delivery, solar power generation station, a detention basin, among others. 

At the hearing, the NA’s Economic Commission requested the government to conclude the feasibility study for the second and third phases of the construction, ensuring high competitiveness of Long Thanh Airport compared to others in the region. 

The commission warned additional facilities could lead to higher investment capital, expecting the government to revise their rationality to prevent a surge in the construction cost. 

Additionally, the commission expressed concern over the government’s ability to meet the deadline for completion by 2025, due to the time-consuming nature of approving technical designs after approving the feasibility study, as well as complicated process of resettlement and compensation. 

Long Thanh International Airport has a total investment capital of VND336.63 trillion (US$16 billion). In November 2017, the NA approved resolution on acquiring land, compensation and supporting resettlement of affected people in the project area with investment capital of nearly VND23 trillion (US$1 billion).

The feasilibility report for Long Thanh International Airport was made by Airports Corporation of Vietnam (ACV) with supports from joint venture of JFV (Japan – France – Vietnam), including Japan Airport Consultants (JAC), ADP Ingeniere (ADPi), Nippon Koei (NK), Oriental Consultants Global (OCG).

Consultants responsible for technical design and construction supervision are Airport Design and Construction Consultancy (ADCC) and Transport Engineering Design (TEDI). 
Comments
Other news
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.
10:57, 2025/01/30
Foreign companies confirm investment expansion in Vietnam in 2025
Some foreign firms are optimistic about Vietnam's economic prospects in 2025 and plan to expand investment, focusing on sustainability across sectors.
16:35, 2025/01/20
PM invites Skoda to manufacture electric vehicles in Vietnam
The Vietnamese government would offer incentives to investors who meet technology transfer requirements and increase the scientific and technological value of their investments.
16:33, 2025/01/08
US Berggruen Holdings to help Vietnam set up investment funds
Vietnam's growing political and global supply chain prominence solidifies its position as a dynamic nation.
21:25, 2025/01/02
Vietnam offers 50% subsidy for initial investment costs in AI and semiconductors
Support measures include training and manpower development costs, R&D expenses, fixed asset investment, high-tech product manufacturing costs, and infrastructure development expenses.
21:21, 2024/12/30
Vietnam releases Esports White Book 2022-2023
The growth of Vietnam's esports market is highlighted in the Vietnam Esports White Book 2022-2023, which outlines global trends.