Khanh Hoa province to build $288 mln Van Phong airport
Van Phong Airport in the south-central province of Khanh Hoa will be built at a cost of nearly VND7 trillion ($288.4 million), with an annual capacity of 2.5 million passengers and nine aprons by 2030.
Under the Van Phong Airport plan for 2021-2030, with a vision to 2050, the airport will have a length of 3,050 meters and be classified as 4E under International Civil Aviation Organization (ICAO) standards. An aerodrome with a reference code 4E will accommodate aircraft with a “Reference Field Length” of 1800 meters and above and a wingspan of up to 65 m.
If volumes of passengers and cargo increase, the airport will be expanded to a capacity of 10 million passengers per year with 27 aprons.
To be located in Van Thang commune, Van Ninh district, the project will be implemented under the public-private partnership (PPP) model with a build-operate-transfer (BOT) contract.
According to the consulting unit, the construction of Van Phong Airport is in line with the national airport development master plan for the 2021-2030 period, with a vision to 2050; the master plan of Khanh Hoa province; and the adjusted general plan for Van Phong Economic Zone approved by the Prime Minister.
Nguyen Tan Tuan, Chairman of the Khanh Hoa provincial People's Committee, assigned the provincial Department of Transport to coordinate with the consulting unit to complete a project report on its investment plan to be approved by the PM.
He also requested the consulting unit to add airplane fuel storage tanks to the master plan, along with cargo warehouses and aircraft repair areas; and evaluate and clarify project investment efficiency.
In late March, Deputy Prime Minister Tran Hong Ha signed a decision approving the adjusted general plan for Van Phong Economic Zone until 2040, with a vision to 2050. Under which, it will be developed into a sea-based economic hub with seaports, urban areas, an airport, and casinos. It will have 19 subdivisions covering a total of 75,166 hectares with zones designated for the development of seaports, logistics services, urban areas, and resorts.
The area designated for the airport covers about 500 hectares in the north of Van Phong (Van Thang commune, Van Ninh district).
Van Phong is one of three key economic zones in Khanh Hoa province. According to the master plan of Khanh Hoa province, the 150,000-hectare zone plays a leading role in attracting investment and is a driving force for the economic development of neighboring regions and the whole country.
Khanh Hoa plans to attract billions of U.S. dollars into 27 major projects at Van Phong EZ during the 2023-2024 period.
So far this year, the province has attracted 17 non-state budget investment projects worth nearly VND101 trillion ($4.16 billion), with the bulk of it coming from four mega projects.
According to the provincial People's Committee, the mega projects are the VND85.29 trillion ($3.64 billion) "Urban Area by Cam Ranh Bay"; the VND7.45 trillion ($307.25 million) Vinpearl Phu Quy residential area; a VND3.76 trillion ($155.07 million) social housing area in Cam Nghia ward, Cam Ranh town; and a VND3.25 trillion ($134 million) plant to treat and recycle household waste in Cam Lam district.
- Read More
Vietnam private lender LPBank reports $394 mln profit in 10 months
Hanoi-based Loc Phat Vietnam Joint Stock Commercial Bank, or LPBank, logged an after-tax profit of VND10 trillion ($394 million) in the first 10 months of this year, said its leadership at the EGM on Saturday.
Banking - Sun, November 17, 2024 | 3:30 pm GMT+7
Vietnam stock market unlikely to experience further steep declines in next sessions: experts
The probability of continued sharp falls in the Vietnamese stock market over the next sessions is relatively low, barring unexpected geopolitical turbulences that could cause significant volatility, according experts.
Finance - Sun, November 17, 2024 | 1:30 pm GMT+7
Taiwan’s Cooler Master gets nod for $125 mln additional investment in northern Vietnam
Taiwan-headquartered Cooler Master, a global computer hardware giant, especially in cooling devices, will invest an additional $125 million in the northern province of Bac Ninh, according to a project report.
Industries - Sun, November 17, 2024 | 10:00 am GMT+7
Vingroup’s hospitality arm Vinpearl becomes public company as part of listing plan
Vinpearl JSC, a hospitality subsidiary of conglomerate Vingroup, has completed its registration as a public company, the State Securities Commission of Vietnam (SSC) said on Friday.
Companies - Sun, November 17, 2024 | 9:00 am GMT+7
Construction of $2.3 bln central Vietnam LNG power plant to restart in 2026
Construction of the 1,500-MW Hai Lang Power Center project in Quang Tri province will restart on January 1, 2026, the project investor has informed local authorities.
Energy - Sun, November 17, 2024 | 8:00 am GMT+7
Vietnam-China partnership to enable export of Kim Long brand cars
Vietnam’s Kim Long Motor and Futa Group have struck a strategic cooperation agreement with China’s Dongfem Dana that will enable the production and export of cars under the Kim Long brand, executives said Friday.
Companies - Sat, November 16, 2024 | 7:13 pm GMT+7
Northern Vietnam province attracts $124 mln investment from Taiwan firm
Taiwan-based Nien Made Enterprise Co., Ltd. will invest $124.1 million to make furniture accessories at Phu Ha Industrial Park in the northern province of Phu Tho.
Industries - Sat, November 16, 2024 | 7:01 pm GMT+7
Vietnam’s first LNG-fired power plants to enter commercial operation in Jun-Sept 2025
Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants, will begin commercial operations in June and September 2025, respectively, says project investor PV Power.
Energy - Sat, November 16, 2024 | 3:20 pm GMT+7
Vinhomes spends $276 mln on buying back 162 mln shares, more than half to go
Vinhomes, the largest housing developer in Vietnam, has spent around VND7 trillion ($275.7 million) on implementing its record buyback plan since kick-starting it on October 23.
Finance - Sat, November 16, 2024 | 1:21 pm GMT+7
Indonesia secures funding for green power infrastructure at COP29
Indonesia has attracted EUR1.2 billion ($1.26 billion) worth of green funding for the electricity sector from Germany’s Kreditanstalt für Wiederaufbau (KfW) at the 29th UN Climate Change Conference of the Parties (COP29) in Baku, Azerbaijan.
Southeast Asia - Sat, November 16, 2024 | 10:10 am GMT+7
Hanoi-based fledgling firm spends $12.3 mln on buying 17.2 mln shares of lender VIB
Hanoi-based Quang Kim Development and Investment JSC acquired 17.2 million shares of Vietnam International Commercial Joint Stock Bank (HoSE: VIB) on Monday.
Banking - Sat, November 16, 2024 | 9:47 am GMT+7
Vietnam can utilize Trump’s policies to enhance position in global supply chains: experts
Vietnam can take the advantage of protectionist economic policies by Donald Trump, the 47th president of the U.S., to strengthen its position in global supply chains, attract foreign investment, and drive sustainable economic growth, write Dr. Tran Ngoc Mai and Prof. Dr. Doan Ngoc Thang, lecturers at the Banking Academy of Vietnam.
Economy - Sat, November 16, 2024 | 9:30 am GMT+7
Former provincial Party chiefs receive warnings for Thuan An Group-related violations
The Politburo, Vietnam’s highest decision-making body, has issued warnings to Nguyen Xuan Ky, former Party chief of Quang Ninh province, and Bui Van Cuong, former Party chief of Dak Lak province, for violations related to Thuan An Group.
Politics - Sat, November 16, 2024 | 9:24 am GMT+7
GenAI set to increase Thai GDP by 6% by 2030
Generative artificial intelligence (GenAI) is projected to raise Thailand's GDP by 6% by 2030, with hefty contributions from the trade and manufacturing sectors, according to a joint online survey by SCB X and SCB Economic Intelligence Centre (SCB EIC) of the country.
Southeast Asia - Sat, November 16, 2024 | 9:00 am GMT+7
Thailand prepares for nuclear energy
Thailand’s Energy Regulatory Commission (ERC) will start looking into the legal aspects of a small modular reactor project this month to prepare Thailand for using nuclear energy.
Southeast Asia - Sat, November 16, 2024 | 8:30 am GMT+7
Data is money, big money: Vietnam tech giant FPT
Vietnamese tech giant FPT Corporation views data as a new resource and is determined to convert it into money and an artery of the economy, says its general director Nguyen Van Khoa.
Companies - Sat, November 16, 2024 | 7:18 am GMT+7