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Summary

10 COVER STORY 18 COVER STORY

Clearing the way for Developing an

aviation to steadily recover ‘ECOSYSTEM’
around airports,

W elcoming the return of the international aviation OPENING UP LAND
market, open visa policies and upgraded aviation
infrastructure under new plans will “take flight” to
help aviation businesses recover. The Civil Aviation
Authority of Vietnam (CAAV) and airlines share the
opinion that although international visitors to and from T hough Vietnam’s airport infrastructure has been
Vietnam by air have increased, numbers still fall short of improved and upgraded over many years, it is still low
expectations. Accelerating the pace of implementing key compared to the strong development of the aviation
aviation infrastructure projects and avoiding slow progress industry, as it was already overloaded by 20 per cent of
and overloaded infrastructure, as in the past, is a priority. designed capacity prior to the pandemic. Some major
airports have been operating beyond their designed capacity
for many years, with delayed investment for upgrades, and
Vietnam does not have any major regional airports. Mr.
13 COVER STORY Dang Anh Tuan, Deputy General Director of Vietnam
Airlines, told a / b of many useful solutions to help
PLANNING TO PROMOTE airports prosper and reach the goal of Vietnam forming
international air transport hubs on a regional level.
INVESTMENT IN AIRPORT Accordingly, airports will not simply be the start and end
points for passenger journeys, with the potential of each
airport and nearby land to be unlocked through the
INFRASTRUCTURE development of “airport cities” and shaping the
development of a more diverse economic “ecosystem” with
airports at the center.
T he master plan for the development of Vietnam’s
national airports and airport network in the 2021-
2030 period with a vision to 2050 was officially 8 ECONOMY - POLICY
approved by the Prime Minister in Decision No. 648/QD-
TTg dated June 7, 2023. Mr. Pham Van Hao, Deputy
VIETNAM MAINTAINS
Director of the Civil Aviation Authority of Vietnam (CAAV), VIETNAM MAINT AINS
told a / b that opening the way for mechanisms
ITS APPEAL
and orienting solutions for mobilizing investment capital ITS APPEAL
in this planning will meet airport infrastructure investment
IN GL
OBAL FDI
demand at a rate four-fold higher than in the previous IN GLOBAL FDI
period, and will soon establish focal air transport centers
and comprehensively upgrade aviation infrastructure,
thereby boosting socio-economic development in localities
and the country as a whole. Vietnam is currently in the low
passenger throughput / population ratio group, so the
potential for its air transport market remains high.

R egistered FDI capital stood at $20.2 billion in the first
nine months of 2023, an increase of 7.7 per cent, with
new project numbers rising 66.3 per cent and projects
adding capital 21.5 per cent, according to the Ministry of
Planning and Investment (MPI). As of September, there were
144 countries and territories investing in Vietnam, with more
than 38,300 projects and total capital of more than $455
billion. Vietnam has become the third-largest economy in
ASEAN, with GDP of over $400 billion. It has been evaluated
by international organizations as one of the most successful
countries in attracting FDI, and its position in other rankings
has made significant progress. Many international
organizations greatly appreciate its economic development
and upgraded credit ratings.

4 KINH TẾ VIỆT NAM | Số 43 | Ngày 23/10/2023 www.vneconomy.vn