Vietnamese lawmakers called for speedy approval
of a $15.8 billion airport on Thursday to get construction started and address
chronic capacity shortages in one of the world's fastest-growing aviation
markets.
The Long
Thanh International Airport outside the economic hub Ho Chi Minh City would be
Vietnam's most ambitious infrastructure project yet and aims to eventually
handle 100 million passengers and five billion tonnes of goods a year.
Vietnam
wants Long Thanh to be a regional transit hub to rival Hong Kong, Singapore and
Bangkok and plans to build it in three separate phases from 2018-2050, starting
with $5.2 billion from 2018-2025.
The
airport was discussed during a National Assembly session on Thursday attended
by Vietnam's state-controlled media, which reported broad support to approve
the project within a month. Foreign media are not permitted to cover legislative
proceedings.
"Our
country needs an advanced airport on par with the world, soon," Tuoi Tre
news quoted Hai Phong lawmaker Tran Ngoc Vinh as telling the house. "If
we're late, we lose this golden opportunity."
Ho Chi
Minh City delegate Tran Du Lich said a decision on the airport should be made
right away and the details and costs thrashed out later.
"The
efficiency maths test needs to be calculated carefully and in the
long-term," the government's news website quoted him saying.
The idea
of the airport was first floated a decade ago and is expected to attract large
foreign interest in contracts from construction and technology to services and
retail.
France's
Aeroports de Paris SA has already approached Vietnam's government with a view
to becoming a strategic partner with state-run Airports Corporation of Vietnam,
the Vietnam News Agency reported in March.
According
to preliminary figures given to lawmakers, the second phase of Long Thanh would
be built from 2030 to 2035, costing $4 billion. The third stage would run from
2040 to 2050, worth $6.6 billion.
The
initial cost of the region's newest hub, Bangkok's Suvarnabhumi Airport, was
$4.6 billion with annual capacity of 45 million passengers. Singapore's Changi
Airport plans to double yearly capacity to 130 million passengers in a decade.
Hanoi's
Noi Bai Airport opened a second terminal last year worth $900 million, nearly
doubling its capacity to 22 million passengers.
Reporting
by Mai Nguyen; Editing by Martin Petty and Dominic Evans
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated
in Singapore since 1994.
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