Over $214mil. to be invested for mountainous airport in Vietnam

Airports Corporation of Vietnam (ACV) has planned the investment of VND4.78 trillion (USD214.97 million) into rebuilding Dien Bien Phu Airport in the northern mountainous province of Dien Bien.

Over $214mil. to be invested for mountainous airport in Vietnam

Dien Bien Phu Airport 

In the latest report sent to the Ministry of Transport, ACV said that of the total investment capital, VND1.53 trillion will be used for site clearance and the remainder for the airport facilities, including runways, a terminal designed for 2 million passengers per year, parking areas and an air traffic control tower.   

AVC has proposed two modes for the airport investment. For the first option, the company will use its own capital to invest in some major parts of the project, while the remainder will be invested in by VATM and Dien Bien Province.

It would take 36 months to finish the project in this way which could help to ease pressure on the government and local budget.

For the second option, the projects will be invested by VATM and the government and local budget. After the project is completed, ACV will operate it.

 

It would take 40 months to put the project into service. But, this would mean the government and local budget would take the strain.

Dien Bien Phu is a domestic airport put into operation since 1994. It is now home to a 1,830-metre runway and a terminal which can serve 300,000 passengers per year.

At present, it can serve ATR72 aeroplanes and ones which are similar. So, now it can serve short air routes from Hanoi/Haiphong to Dien Bien only. Dtinews

Nhu Quynh

 
 

Other News

.
Foreign ownership cap yet to be applied at payment intermediaries
Foreign ownership cap yet to be applied at payment intermediaries
BUSINESSicon  13/02/2020 

The State Bank of Vietnam (SBV) has removed a regulation capping foreign ownership at 49% for local payment intermediaries from a draft decree on noncash transactions.

Over 36 tons of masks exported amid local virus scare
Over 36 tons of masks exported amid local virus scare
BUSINESSicon  13/02/2020 

More than 36 tons of face masks was shipped overseas from HCMC within one week even though the domestic market is falling short of the product and the Government is finding ways to shore up mask supplies.

Prices of goods under State watch should be kept unchanged to curb inflation: GSO
Prices of goods under State watch should be kept unchanged to curb inflation: GSO
BUSINESSicon  13/02/2020 

The Government should not raise the prices of any products under its management, especially medicines, fuels and electricity, in the first half of 2020 to keep the full-year inflation rate under control, stated the General Statistics Office.

EU lawmakers approve free trade deal with Vietnam
EU lawmakers approve free trade deal with Vietnam
BUSINESSicon  13/02/2020 

The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA).

Produce 'rescue' campaigns help farmers amid export decline to China due to coronavirus outbreak
Produce 'rescue' campaigns help farmers amid export decline to China due to coronavirus outbreak
BUSINESSicon  13/02/2020 

Mekong Delta farmers are facing natural calamities and saline intrusion, as well as the decline of the Chinese market amid the coronavirus outbreak.

Coronavirus outbreak hits aviation industry hard
Coronavirus outbreak hits aviation industry hard
BUSINESSicon  13/02/2020 

Flying an empty aircraft for the second time in one week, Hoang, a captain working for a Vietnamese airline, has heard that the airline is incurring big losses because of nCoV.

BUSINESS NEWS HEADLINES FEB. 12
BUSINESS NEWS HEADLINES FEB. 12
BUSINESSicon  12/02/2020 

Vietnam holds key to expediting infrastructure investment: Moody’s

Investment in Vietnam-based start-ups grows sharply in 2019
Investment in Vietnam-based start-ups grows sharply in 2019
BUSINESSicon  12/02/2020 

Investment in Vietnam-based start-ups grew sharply in 2019, according to Singapore-headquartered venture capital firm Cento Ventures.

Traders, exporters advised not to transport produce to northern border gates
Traders, exporters advised not to transport produce to northern border gates
BUSINESSicon  12/02/2020 

The Ministry of Agriculture and Rural Development has asked local exporters to suspend the transport of farm produce to the northern border gates.

Pork supply expected to recover from this month: MARD
Pork supply expected to recover from this month: MARD
BUSINESSicon  12/02/2020 

The Ministry of Agriculture and Rural Development (MARD) said that the domestic pork supply is forecast to increase from February.

Banks assist firms affected by nCoV outbreak
Banks assist firms affected by nCoV outbreak
BUSINESSicon  12/02/2020 

In response to the State Bank of Vietnam (SBV)’s appeal, a number of credit institutions have announced plans to support businesses affected by the novel coronavirus (nCoV) epidemic.

SBV removes foreign ownership limit in payment firms
SBV removes foreign ownership limit in payment firms
BUSINESSicon  12/02/2020 

The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101.

Transport firms face huge losses from coronavirus outbreak
Transport firms face huge losses from coronavirus outbreak
BUSINESSicon  12/02/2020 

Many transportation firms reported that they are incurring huge losses and slow business due to the coronavirus outbreak.

Property market in 2020 may heat up thanks to new policies
Property market in 2020 may heat up thanks to new policies
BUSINESSicon  13/02/2020 

Many new policies will take effect in 2020 which aim to warm up the housing market segment for those with real accommodation demand.

Nissan to shut Japan factory due to shortage of Chinese parts
Nissan to shut Japan factory due to shortage of Chinese parts
BUSINESSicon  11/02/2020 

The Japanese car maker shuts a factory for two days due to a shortage of parts from China.

Agricultural produce from China absent from HCM City markets
Agricultural produce from China absent from HCM City markets
BUSINESSicon  11/02/2020 

The suspension of trading through some border gates because of the novel coronavirus threat has meant Chinese vegetables and fruits are absent from HCM City's markets.

Foreign investors net buy VN shares after 5-month offloads
Foreign investors net buy VN shares after 5-month offloads
BUSINESSicon  11/02/2020 

Foreign investors bought more Vietnamese stocks than they sold in January, snapping a month-long streak as net buyers after offloading shares in the last five months of 2019.

Vietnam’s growth prospects remain positive despite pessimism for global economy
Vietnam’s growth prospects remain positive despite pessimism for global economy
BUSINESSicon  12/02/2020 

Despite the declining trend overall, 49% Vietnam CEOs in particular, share a positive outlook for business growth in the year ahead.

Foreign banks start consumer finance boost in Vietnam’s market
Foreign banks start consumer finance boost in Vietnam’s market
BUSINESSicon  11/02/2020 

Foreign banks have decided to boost consumer finance loans as the business segment is forecast to maintain double digit growth this year.

Coronavirus hits FDI firms’ production, business
Coronavirus hits FDI firms’ production, business
BUSINESSicon  12/02/2020 

The shortage of materials and various labor-related problems attributable to the spread of the Wuhan coronavirus have affected the production and business activities of large foreign direct investment (FDI) enterprises in Vietnam.

 
 
 
Leave your comment on an article

OR QUICK LOGIN