Airports Corporation of Vietnam aims for 9 percent expansion

The Airports Corporation of Vietnam (ACV) has targeted earning 19.1 trillion VND (820 million USD) in revenue and 8.2 trillion VND (355 million USD) in pre-tax profit in 2019, representing year-on-year increases of 7 percent and 9 percent.

airports corporation of vietnam aims for 9 percent expansion hinh 0
Illustrative photo. (Source: nld.com.vn)

ACV holds a positive view of the growth trajectory of the Vietnamese air transport market thanks to the participation of new domestic airlines and the addition of international flights to Phu Quoc, Phu Yen and Phu Cat, said ACV General Director Vu The Phiet at the company’s 2019 Annual General Meeting of Shareholders in HCM City on June 22.

However, the company is expected to encounter some difficulties related to competition from the private sector, policies on flight zones, investment rights and delayed land procedures, along with increasing electricity and fuel costs and the unstable global political situation.

Therefore, AVC expects revenue growth for both aviation and non-aviation services to be lower than last year, Phiet said. Aviation service revenue will continue to rise but the increase will be lower than in 2018 due to lower international revenues from Cam Ranh Airport.

Non-aviation revenue is also expected to report lower growth than last year. In 2018, many new facilities were completed and put into operation, but this year, most new projects are still preparing for investment. The company aims to raise non-aviation service revenue to 40 percent of its total revenue in the next few years, Phiet said.

In 2018, profit increased sharply thanks to the policy of increasing service prices under Decision 2345 of the Ministry of Transport. The company recorded total revenue and post-tax profit of 17.8 trillion VND and 6 trillion VND, up 19 percent and 44 percent respectively against 2017.

Phiet said the company has submitted a feasibility study for the first phase of construction for Long Thanh International Airport. It is awaiting review before sending the study to the National Assembly for approval in October, 2019.

Lai Xuan Thanh, Chairman of ACV, said that the plan to list on the HCM Stock Exchange depended on the company’s equitisation process. ACV needs to assess the value of its assets and State assets before it can move forward with equitisation.

In 2019, ACV will continue to invest in infrastructure to meet the needs of airlines with investment capital of more than 7.3 trillion VND, including to fund the construction of terminal T3 at Tan Son Nhat Airport in HCM City, the project to expand terminal T2 at Noi Bai Airport and the terminal T2 project at Cat Bi Airport in Hai Phong city.

Phiet said the feasibility study for the new terminal was nearly finished. The terminal is expected to have an annual capacity of 20 million passengers, one station and one high rise garage. It is expected to cost 11.5 trillion VND in total. 

Phiet said the company is still struggling to secure enough funding to complete the project. It has asked to Government to allow it to construct the terminal and serve as its investor.

VNA/VNS

Other News

Vietnam accelerates innovation to boost growth, competitiveness

Vietnam accelerates innovation to boost growth, competitiveness

By 2030, Vietnam aims to rank among the world’s top 40 in the GII; raise total social investment in R&D to at least 2% of GDP, with non-State funding accounting for over 60%; increase international scientific publications by an average of 10% annually; and raise the number of patent applications and granted patents by an average of 16-18% annually.

Vietnam sees high growth prospects

Vietnam sees high growth prospects

Experts from the Institute of Vietnam and World Economy under the Vietnam Academy of Social Sciences noted the quality of recent growth as the high growth rate has been recorded against an increasingly higher comparative base.

Vietnam seeks bigger share of global Halal market

Vietnam seeks bigger share of global Halal market

Vietnam's Halal exports remain modest at around 900 million USD a year, accounting for less than 1% of the global market. Most exports are still raw agricultural and seafood products. Only around 1,000–1,300 Vietnamese businesses obtained or maintained Halal certification during 2024–2026.

Hanoi sets up inter-agency mechanism to operate carbon market

Hanoi sets up inter-agency mechanism to operate carbon market

Under a decision of the municipal People’s Committee on establishing an inter-agency working group, departments and agencies are responsible for identifying facilities subject to greenhouse gas inventories, developing emissions-reduction plans and studying projects capable of generating carbon credits.

Shrimp exports reach 3.3 billion USD in eight months

Shrimp exports reach 3.3 billion USD in eight months

According to data from the Vietnam Customs cited by the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports reached 478.5 million USD in August, up 4.2% from the same month last year. The eight-month total stood at 3.3 billion USD, representing a year-on-year increase of 12%.

Russian investors explore opportunities in Vietnam's real estate market

Russian investors explore opportunities in Vietnam's real estate market

Vietnam is seen as a potential market, with considerable room for growth in real estate, particularly commercial property, compared with some regional markets. Strong Vietnam-Russia ties and opportunities to establish foreign-invested enterprises are also considered favourable for Russian investors.

Phu Quoc airport planning adjusted to serve APEC 2027

Phu Quoc airport planning adjusted to serve APEC 2027

For 2021-2030, the Civil Aviation Authority of Vietnam proposed bringing forward the investment in a parallel taxiway system and a connecting taxiway north of Runway No. 2 at Phu Quoc International Airport, in order to connect with the aircraft maintenance and repair facility (hangar) planned for the northern area of ​​the airport.

Policy, infrastructure emerge as new advantages in FDI attraction

Policy, infrastructure emerge as new advantages in FDI attraction

From policy and infrastructure to industrial real estate, Vietnam’s FDI advantages are broadening towards a more integrated production ecosystem, offering investors a stronger combination of conditions for high-value, technology-intensive and long-term projects.

Logistics upgrade vital to 1-trillion-USD trade target: experts

Logistics upgrade vital to 1-trillion-USD trade target: experts

As trade expands, systemic bottlenecks across transport networks, warehousing, ports, border gates, and industrial zones are becoming more apparent. Experts emphasise the need to shift from a fragmented, project-by-project approach toward strategic management structured around trade corridors and integrated supply chains.

Ample room for Vietnam, US to deepen cooperation

Ample room for Vietnam, US to deepen cooperation

Do Ngoc Hung, Trade Counsellor and head of the Vietnam Trade Office in the US, said what stands out is not only the growth in trade volume but also the increasingly deep economic ties between the two countries.

Flexible fiscal policy helps drive economic growth

Flexible fiscal policy helps drive economic growth

According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at 2.02 quadrillion VND (77.7 billion USD), equivalent to 80% of the annual estimate and up 16% year-on-year. Domestic revenue reached 1.75 quadrillion VND, accounting for 86.6% of total revenue and rising 16.6%.

Electronic components are produced at a factory in Hanoi. (Photo: VNA)

Hanoi's imports surge 41% in first eight months of 2026

Hanoi aims to achieve average annual export growth of at least 12% during 2026-30, with the city seeking to diversify export markets, boost high-tech and value-added products and reduce reliance on traditional markets.