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Clarification needed in Long Thanh Airport project

Questions were raised surrounding the Long Thanh Airport project at the ‘Open, Scientific and Responsible’ conference held in Hanoi on June 1.
Questions were raised surrounding the Long Thanh Airport project at the‘Open, Scientific and Responsible’ conference held in Hanoi on June 1.

Almost participants, including managers,scientists, voiced their support to construction of Long Thanh Airport,but question on the airport’s location, planning, constructioneffectiveness as well as the upgrades of Tan Son Nhat Airport.

According to Nguyen Xuan Thanh, Director of the FulbrightEconomics Teaching Program, the Long Thanh Airport project iseconomically and socially feasible but presents major financialconcerns.

Thanh said the predicted profit rateof 4 percent over the life of the airport is unrealistic and asked theinvestment report to clarify how the project is financially feasibleincluding addressing the ability to pay off debts from loans toimplement project.

Luong Hoai Nam, GeneralDirector of the Hai Au Air Joint Stock Company, supported theconstruction of Long Thanh airport, saying it is urgently needed whilealso emphasising the selection of an effective investment model iscrucial.

Concerning investment capital, Vo DaiLuoc from the Vietnam Economics Association said the Government shouldonly contribute 20 percent of total capital and the remaining should besourced from local and international investors.

The multi-billion-dollar Long Thanh Airport project, the biggest-ever inVietnam, is expected to serve the Southern Key Economic Zone includingHCM City, Ba Ria-Vung Tau, Dong Nai, Binh Duong, Long An, Tay Ninh andBinh Phuoc provinces.

Tan Son Nhat is the onlyinternational airport in the region and is becoming increasinglycrowded; expansions to that airport have been deemed vastly expensive.-VNA
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