Vietnam Accelerates Phu Quoc Airport Expansion for APEC 2027

Phu Quoc: The Vietnamese Government has issued a resolution for the expansion of Phu Quoc International Airport in Kien Giang province, gearing up for the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Week scheduled for 2027. According to Lao News Agency, the project will be implemented under an investment-business model compliant with the Law on Investment. The provincial People's Committee has been assigned the responsibility to select domestic investors to manage the expansion project. The airport's expansion will cater to both civilian and military needs, as proposed by Kien Giang province on May 15, 2025. The Government has authorized Kien Giang province to approve and modify investment policies regarding the expansion. The province will oversee environmental impact assessments, fire safety evaluations, and project design approvals. Moreover, it will receive state-invested airport infrastructure from the Ministry of Construction, excluding assets managed by Airports Corporation of Vietnam (ACV) located on defense and security land. The Minister of Construction will outline the asset transfer process, detailing asset types, values, technical specifications, current operational status, and land use rights. Kien Giang province will obtain these assets without compensation to the Ministry of Construction. The province is tasked with collaborating with the Ministry of Construction and ACV to maintain and operate the transferred infrastructure, following the arrangements set in the Prime Minister's Decision No. 2007/QD-TTg from December 2020. This arrangement will persist until Kien Giang finalizes investor selection and appoints qualified operators for the expanded airport. The resolution also introduces a financial framework directing project revenues towards the development of infrastructure for APEC 2027. Surplus revenues from airport operations, after maintenance and operational deductions, will contribute to Kien Giang's budget for APEC-related infrastructure investments. Additionally, fund s collected from land lessees and transferees will be allocated for APEC preparation efforts.