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Update news vietnam aviation industry
Vietnam wants to increase investment in domestic airports and establish better infrastructure, but capital will only increase when the institutional conditions are further improved.
Several nations have devoted generations to constructing sophisticated aviation infrastructure. In Vietnam, plans are in the making to follow suit.
Six airports, including five international ones, will shortly be handed over to local governments to actively solicit capital for upgrades.
Building more airports proves important to keep abreast with the aviation sector’s upbeat growth prospects.
According to a representative of Boeing Vietnam, the Southeast Asian market needs about 4,000 new aircraft, of which Vietnam is the country that needs the most aircraft.
The aviation sector can only recover in 2021 according to an official from the Ministry of Transport.
Airports Council International forecasts that Vietnam will have the fastest air passenger growth in the world in the period of 2018-2040 with an average annual growth rate of 6.2%.
The air travel market grew in the first half of this year, however the growth rate slowed down compared to the same period last year, according to the Civil Aviation Authority of Vietnam (CAAV).