Long Thanh airport expected to contribute 3-5 percent to GDP: PM

Dong Nai (VNA) – Once operational, Long Thanh International Airport is expected to contribute 3-5 percent of the national gross domestic product (GDP), Prime Minister Nguyen Xuan Phuc said at the ground-breaking ceremony of the project in the southern province of Dong Nai on January 5.

The airport system, including the Long Thanh International Airport, will play a significant part in making Vietnam stronger in the coming time, he said, stressing the basic infrastructure’s vital role to socio-economic development as well as national defence and security, adding sound infrastructure facilities will help Vietnam attract large corporations who come to make long-term investments.

He added that Vietnam has been praised by the international community as one of the fastest growing economies in Asia. Last year, the country was listed among the 16 most thriving emerging economies the world, successfully performing the dual tasks of preventing the pandemic and maintaining growth of nearly 3 percent.

“A bright economic outlook is awaiting us ahead. There is strong confidence of both domestic and foreign investors in Vietnam’s post-pandemic economic recovery”, PM Phuc said.

He went on by underlining the strong growth of the Vietnamese aviation sector, adding Vietnam is among ten countries with the fastest expansion of the aviation market in the Asia-Pacific.

Once operational, Long Thanh International Airport is expected to contribute 3-5 percent of the national gross domestic product (Photo: VietnamPlus)

Air travel demand in the southern key economic region is over 65 million passengers by 2025, and the figure is said to increase to more than 80 million by 2030.

Current infrastructure fails to meet the rising demand, he said, describing it as a bottleneck for socio-economic development.

According to the leader, Long Thanh is among the world's 16 most awaited airport projects.

With the largest-ever capital investment, the project demonstrates the aspiration and will of Vietnam to move forward, and holds significance to the country’s socio-economic development, and national defence and security.

PM Phuc lauded relevant ministries and agencies, especially people in Dong Nai province, for their consensus in land clearance.

He ordered the Commission for the Management of State Capital at Enterprises (CMSC) to direct the Airport Corporation of Vietnam (ACV) to implement the project’s three component projects in line with current regulations, keep its progress on schedule and ensure its quality without causing waste and losses.

The Ministry of Transport as well as administrations of Dong Nai, Ho Chi Minh City and other provinces in the southeast region must soon have plans for comprehensively enhancing local transport connectivity with the future Long Thanh International Airport, even taking into account the development of new urban areas, service system, and the North-South high-speed railway, the Government leader said. It is expected to increase the competitiveness of not only the southeast region but also the economy at large.

He also urged local people affected by the construction of the airport to continue supporting the project and enabling it to be completed on schedule for the nation’s interests while asking Dong Nai to exert all-out efforts to ensure livelihoods of those displaced by the project.

During its ninth session, the 13th National Assembly issued a resolution approving the investment plan of the three-phase project. The first phase sailed through the 14th legislature.

Covering a total area of more than 5,580ha, the airport will straddle six communes in Long Thanh district. It is expected to cost 336.63 trillion VND (14.5 billion USD). (Source: Airport Corporation of Vietnam)

In the first phase, one runway with a length of 4,000m, taxiways, an apron, and a passenger terminal with other auxiliary works sprawling 373,000 sq.m will be built to serve 25 million passengers and 1.2 million tonnes of cargo each year. The total funding for this phase is estimated at 109.11 trillion
VND (4.37 billion USD).

The third component project of the first stage, invested by the ACV and covering essential items of the airport, costs some 99.01 trillion VND.

The airport is designed to have four runways, four passenger terminals, and other auxiliary facilities to ensure a capacity of 100 million passengers and 5 million tonnes of cargo a year by 2040.

Covering a total area of more than 5,580ha, the airport will straddle six communes in Long Thanh district. It is expected to cost 336.63 trillion VND (14.5 billion USD).

Around 4,800 households and 26 organisations are expected to be relocated to make way for it.

Located 40km to the east of Ho Chi Minh City, Long Thanh airport is expected to relieve overloading at Tan Son Nhat international airport in the southern metropolis, now the country’s largest airport./.