The Government announced last Tuesday that it has approved the proposal to construct the Long Thanh International Airport in southern Dong Nai Province.— Photo baodautu

HA NOI (Biz Hub) — The Government announced last Tuesday that it has approved the proposal to construct the Long Thanh International Airport in southern Dong Nai Province.

However, the National Assembly must first review and approve the plan for it to push through, said Nguyen Van Nen, the Government Office minister-chairman.

According to Deputy Transport Minister Nguyen Hong Truong, a number of contractors will be equitised for the construction of the project, which will be divided into two phases.

The first phase, from 2020 to 2025, will be worth US$6 billion and will develop the capacity for handling 20 million to 25 million passengers per year. The second phase, to be completed after 2050, will develop the capacity for handling 60 million to 80 million passengers per year.

The deputy minister said that for the first phase, the transport ministry would be encouraging local and international investors to enter into joint ventures to minimise investment from the State budget.

A report from the Airports Corporation of Viet Nam (ACV) last August said the estimated investment capital for the airport's first phase would be $7.8 billion, of which $4 billion would come from the State budget and official development assistance (ODA). The remaining $3.8 billion will either come from businesses or public-private partnerships.

An ACV representative said foreign investors such as Samsung and CHK Incheon of Korea, as well as ADPi Group of France, have shown interest in the project. — VNS