$1.8B credit contract signed for Long Thanh airport project

The credit comprises $1 billion from the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), $450 million from the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), and $350 million from the Bank for Investment and Development of Vietnam (BIDV).

The airport, with a total capacity of 100 million passengers and 5 million tonnes of cargo a year, has a total investment of VND336.63 trillion ($13.71 billion). It will be able to handle 25 million passengers and 1.2 million tonnes of goods a year after its first phase is completed in 2026.

Addressing the event, PM Pham Minh Chinh stressed the Long Thanh International Airport project is significant to the socio-economic development of the southern key economic region, Vietnam’s aviation sector and the whole country’s development in the coming years.

He hailed the effort of the three commercial banks along with the coordination of the State Bank of Vietnam in quickly arranging a huge credit for the project, thus ensuring the project's progress.