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Private funding sought for Long Thanh airport project

Private investors should be encouraged to take part in the building of airports across the country, particularly Long Thanh international airport, said National Assembly Chairwoman Nguyen Thi Kim Ngan.

 

 

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An artist's impression of Long Thanh international airport project. Private funding is being sought for the project

 

Aside from the current airport projects, such as Chu Lai and Lao Cai, private investors should be sought for airports with lower-than-expected revenue, she said at a Q&A session of the ongoing 36th meeting of the NA Standing Committee in Hanoi today, August 15.

Particularly for Long Thanh airport, which is an important national project, the competent agencies should learn from the experience with the privately funded Van Don airport in Quang Ninh Province.

Work on the Long Thanh airport could be divided into smaller components. The Ministry of Transport would then suggest which components were better for State-run firms to execute and which ones should be handled by private investors, the NA chairwoman said.

The NA will select capital sources for building the Long Thanh airport, while the Government is in charge of executing the project efficiently and quickly, she added.

She also suggested the transport ministry should study ways to maximize private funding for airports across the country.

There are a total of 22 airports in the country, with Van Don international airport being the only one managed by a private company. Meanwhile, the remaining 21 airports are under the management of Airports Corporation of Vietnam (ACV), which is 95.6% owned by the Government, according to Minister of Transport Nguyen Van The.

Only eight of the 21 airports are profitable, while the others need ACV to channel revenues from the profitable airports to offset their losses, he said.

Regarding encouraging private funding, Minister The pointed out that private investors chiefly eye airport projects with high profitability, The said. SGT

 

 

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