The Vietnamese government has approved the construction of the Long Thanh International Airport outside Ho Chi Minh City. It has sought project details from the Ministry of Transport. The project will be implemented in two phases. Phase I of the project will cost $5.66 billion and consist of a runway and a terminal capable of accommodating 17 million passengers annually. Under this phase, the state-owned Airports Corporation of Vietnam (ACV) has proposed to mobilise a total of $2.7 billion through government funds, bonds, and foreign official development assistance (ODA) to build a main runway, taxiways, a parking area, and electrical and water systems. A part of the project will be implemented on PPP basis comprising construction of the terminal and repair facilities, through an investment of $12.9 billion. Moreover, the ACV proposed seeking ODA from the World Bank, ADB, Japan, the US, France, and South Korea. Meanwhile, Phase II of the project will be undertaken in 2023 to increase the capacity to 25 million passengers by 2025.
