Macro● Neutral
Vietnam targets Long Thanh airport as Asia's aviation hub rival
Vietnam's Politburo signed Resolution 16 to turn Dong Nai City and Long Thanh airport into a rival to Singapore, Bangkok and Kuala Lumpur. A $12.8 billion airport opens Dec. 1.
Continue with
Party General Secretary and State President To Lam signed Resolution 16 on July 21, setting development goals for Dong Nai City through 2035 and a vision to 2065. The Politburo wants the city's Long Thanh International Airport to become Vietnam's principal international gateway and a regional transit hub capable of reclaiming long-haul connecting traffic now flowing through Singapore, Bangkok and Kuala Lumpur.
Long Thanh sits about 40 km east of Ho Chi Minh City. State operator Airports Corporation of Vietnam, which said it wants the airport to grow into a regional hub, is building it at a cost of VND336.63 trillion ($12.8 billion). Commercial operation is scheduled to start Dec. 1. The airport will open with capacity for 25 million passengers a year, with a design ceiling of 100 million passengers reached in later phases.
The resolution identifies Long Thanh as a key link in regional and global supply chains. The Long Thanh-Nhon Trach area is to be built into an airport city of about 2.5 million people.
Economic targets are ambitious. Dong Nai is aiming for average annual GRDP growth of at least 10% from 2026 through 2045, then at least 8% from 2046 to 2065. GRDP milestones: about $44 billion in 2030, $70 billion in 2035, $150 billion in 2045 and $600 billion in 2065. Per capita figures at those points: $9,200, $13,000, $23,000 and $67,500. The digital economy is to account for at least 40% of GRDP by 2035.
The Politburo called for broad decentralization to the city's People's Council, People's Committee and its chairman in every area except defense, security, foreign affairs and religion. Dong Nai will study special mechanisms similar to those granted to Ho Chi Minh City, covering investment, finance, budget, land, construction, planning, science and technology, innovation, digital transformation and high-quality human resources.