Investment

The Binh Dinh Provincial People’s Committee has proposed expanding Phu Cat Airport and building a new terminal under the public-private partnership (PPP) form in order to double the airport’s capacity and turn it into an international airport. The south-central province is forecast to welcome 7.5 million visitors arriving by air by 2025 and 12 million by 2030.

Data and expert opinion confirm that many multinational corporations in Taiwan (China) are shifting an unprecedented proportion of their capital to low-cost, well-connected countries like Vietnam and India. Official data shows that, in 2021, companies in Taiwan (China) invested $341.6 million in Vietnam; the most since 2017.

New Binh Duong factory the largest investment by any Danish company in Vietnam.

Northern Thai Nguyen province kicked off construction of three industrial clusters on November 2, with a total area of more than 110 ha and investment of nearly VND800 billion ($32.2 million). They will contribute to helping the province realize its goal of becoming a modern industrial economic center in the northern midlands and mountains and Hanoi capital region by 2030. It currently has 19 industrial clusters that have received infrastructure investment.

Prime Minister Pham Minh Chinh has signed a decision to add four expressway projects and a project at Tan Son Nhat International Airport in Ho Chi Minh City to the list of national key projects. The expressway projects are Tuyen Quang - Phu Tho, Hoa Binh - Moc Chau - Son La, Huu Nghi - Chi Lang, and Dong Dang - Tra Linh, while Tan Son Nhat will see construction of the T3 passenger terminal.

Localities with insufficient space and a lack of investment capital could still build smaller airports that are suitable for the local terrain and put new trends in world aviation to use. The construction of small airports would also put an end to a situation where larger airports don’t use their full capacity and incur regular losses. The development of small airports in Vietnam, however, still faces many obstacles.