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ACV spends 1.1 billion USD for airport upgradation by 2018

The Airports Corporation of Vietnam will pour over 26.2 trillion VND (1.17 billion USD) for the upgradation of airports to meet travel demands and socio-economic development by 2018.
ACV spends 1.1 billion USD for airport upgradation by 2018 ảnh 1The ACV has proposed many preferential mechanisms in the 2016-2018 period (Source: vnexpress.net)​

Hanoi (VNA) – The Airports Corporation of Vietnam will pour over 26.2 trillion VND (1.17 billion USD) for the upgradation of airports to meet travel demands and socio-economic development by 2018.

This is the corporation’s latest plan, aimed at implementing the National Strategy on Transport Development, issued in 2013 by the government.

The corporation, now manages all 22 airports in the country, including nine international airports, said travel demands were constantly increasing, putting pressure on the major airports at Noi Bai, Tan Son Nhat, DaNang, Cam Ranh and Phu Quoc.

According to Head of the Civil Aviation Authority of Vietnam Lai Xuan Thanh, Noi Bai International Airport has achieved tremendous growth, reaching 22 percent in 2015 and already climbing to 31 percent in the first four months of this year.

Meanwhile, the International Air Transport Association (IATA) has predicted Vietnam will be the 10th fastest-growing market in terms of additional passengers by 2034.

Therefore, the upgradation of the airports was very necessary, the corporation said.

Some 7.7 trillion VND (345 million USD) of the capital being used to finance the upgradation work will be drawn from the State budget and 18.4 trillion VND (824 million USD) from the corporation.-VNA

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