HCMC – The Government has approved a plan to expand Phu Quoc International Airport ahead of the Asia-Pacific Economic Cooperation (APEC) Summit in 2027, authorizing Kien Giang Province to select an investor and manage the project.
According to Resolution No. 1/2025/NQ-CP, the project will be developed as a dual-use airport serving both civilian and military purposes. Kien Giang authorities will be responsible for approving investment policies, assessing environmental impacts, and certifying fire safety standards, reported the Government news website (baochinhphu.vn).
The Government will transfer state-funded infrastructure assets of the airport from the Ministry of Construction to the province for management and project execution. Assets managed by the Airports Corporation of Vietnam (ACV) on defense land will not be included in the transfer.
The Ministry of Construction will oversee the asset transfer process and compile a list of ACV-managed assets not classified as state capital contributions.
Kien Giang will cover costs arising from the transfer but will not have to pay for the assets. After the handover, provincial authorities will assign a management agency and account for asset depreciation until the project is completed.
Kien Giang will cover reasonable costs arising directly from the transfer process, though it will not be required to pay for the value of the assets received.
Upon transfer, Kien Giang will assign a specialized agency to manage and monitor the assets and begin accounting for depreciation from the date of receipt until the assets are fully processed according to regulations.
During the transition period, Kien Giang will work with the Ministry of Construction to allow ACV to continue maintaining and operating the infrastructure until a qualified new investor is selected.
The province will also decide on the transfer or lease of land and associated infrastructure to the selected investor. The investor will be responsible for reimbursing the State for the value of the infrastructure assets.
Revenue generated from the difference between operational income and maintenance costs during the transition phase will be directed to the provincial budget to fund infrastructure projects for the APEC 2027 Summit. Similarly, the reimbursement from the investor will also be allocated to infrastructure development for the event.
