According to Prime Ministerial Decision No.1621/QD-TTg, signed by Deputy Prime Minister Tran Hong Ha on December 21, on adjusting the investment policy for the Sapa airport project in northern Lao Cai province, its total investment capital will be reduced to nearly VND6.950 trillion ($272 million), with contribution from the State budget accounting for 49.16%.

The project is implemented under the mode of public private partnership (PPP).

The project, which covers a total area of 371ha, is divided into two phases. Construction of the first phase (on 295.2ha), scheduled from 2021-2025, is estimated to cost VND4.295 ($168 million). The second phase (on 75.8ha), scheduled from 2028, is estimated to cost VND2.653 trillion ($103 million), down from the initial plan of VND3.740 trillion ($146.4 million).

The project was initially approved by the Prime Minister in 2021.