The National Assembly’s Economic Committee expressed approval of the policy to build a modern international airport but voiced concerns about how to mobilize investment for the project at the morning plenary sitting of the NA on October 29.

In its verification report about the Government’s proposal to build Long Thanh International Airport in southern Dong Nai province, the committee said such an airport is necessary to meet the growing demand of aviation transport, contributing to national development and defence-security.

The committee, however, noted that there are opinions questioning the urgency of the Long Thanh project, asking to consider a more appropriate time for implementing it.

At the same time, the committee required more accurate investment estimates for the first phase of the Long Thanh project, adding that the government also needs to calculate the estimated costs of other projects to build an infrastructure system connected with the airport.

In addition, the government’s plans to use State budget and loans to fund the project are not feasible in the context of rising public debt and the State budget running short, it said, adding that even when international financial organisations agree to lend capital for the project, these loans also need the Government’s sponsorship.

The committee presented a number of opinions recommending calling for Official Development Assistance (ODA) and encouraging private-public cooperation to implement the project.

According to the Government’s proposal, the Long Thanh International Airport is necessary to ease the pressure on Tan Son Nhat Airport in Ho Chi Minh City. At the same time it will become an aviation hub in the region is in line with the country’s aviation development strategy.

The building of the airport will comprise three phases, with the first phase to be completed in 2025 and the second phase in 2030.

The first phase is divided into Phase 1a and Phase 1b, with Phase 1a aiming to build the main terminal and one runway to serve 17 million passengers a year, to become operational in 2023. In Phase 1b, to be completed in 2025, two wings of the main terminal and the second runway will be constructed.

Total investment for the first phase is estimated at 164.589 trillion VND (7.837 billion USD). The government plans to source 84.624 trillion VND from the State budget, government bonds and ODA, and the remaining 79.965 trillion VND from the non-State sectors.

The airport will have its capacity raised to 50 million passengers and 1.5 million tonnes of cargo when the second phase completes in 2030.-VNA