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Vietnam: airport infrastructure needs USD5billion upgrade

Analysis

The Vietnamese government has estimated that following a rapid pre-pandemic rise in passenger numbers, the requirement for airport infrastructure during the next five years will be twice what it was in the past five years.

Airports Corporation of Vietnam (ACV) reports that VND25 trillion (USD1 billion) has been invested in expanding airport infrastructure over the past five years to support passenger and cargo growth, but that it will need approximately VND120 trillion (USD5.2 billion) from 2021 to 2025 to complete infrastructure projects.

Vietnam's passenger and cargo traffic increased by an average of 17% and 13% respectively from 2012 to 2019.

However, there are questions about the selection of infrastructure projects, their geography, and whether traffic forecasts have been exaggerated.

Of greater concern still is the lingering question of where the finance and the operating experience will come from.

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