Construction of Long Thanh Airport Starts in December
Updated: Dec 25, 2020
Airports Corporations of Vietnam (ACV) - the project’s developer is rushing to complete investment documents and procedures, as well as to receive land handover for the Long Thanh airport. The project is expected to start at the end of December 2020.
On November 11, 2020, Deputy Prime Minister Trinh Dinh Dung issued the Decision No. 1777/QD-TTg on approving the first construction phase of the Long Thanh International Airport project, with an entire package of investment of more than 99,000 billion VND from ACV.
ACV currently has two basic advantages if they start the project in December 2020:
The necessary land for Phase 1 was handed over to the Ministry of Transport, ready for construction.
The availability of fully-guaranteed capital, which comes from 3 main sources:
29,225 billion VND in existing cash
6,877 billion VND in accumulated cash flow dedicated to the project in the phase of 2020 - 2025
The remaining cash flow mobilized from commercial loans and corporate bonds issuance
Currently, ACV is completing the detailed project implementation plan in 60 months, with the intention of putting the project into utilization in December 2025.
Vietnam is improving its infrastructure and transportation to accommodate growth. Therefore, such an improvement in transportation and infrastructure marks another milestone in the social and economic development of the South area and Vietnam as a whole.
Vietnam is the third-largest market in Southeast Asia and one of the fastest-growing economies in the world. The country’s enormous potential for growth lays the fertile ground for investment. Still considering whether Vietnam is an optimal choice for your business? Contact the Broad Avenue team and let our experts share with you the insights to catch the best business opportunities in Vietnam ahead of time.