According to the decision, Sun Airport Joint Stock Company will take over, manage, and operate Phu Quoc Airport under the asset transfer scheme with a reimbursement to the state. The original value of the assets is VND 1,937.48 billion, with a remaining book value of VND 1,037.54 billion.
The transferred assets include runways, taxiways, service roads, aviation security facilities, airport emergency systems, flight operation equipment, and other aviation infrastructure. These assets will be handed over to the investor for the expansion project of Phu Quoc International Airport.
The company is required to pay the remaining book value of VND 1,037.54 billion to the state budget of An Giang Province within 10 days from the effective date of the decision. Additionally, the company commits to reimbursing the full value of the assets to the state budget. If a higher value is later approved by the An Giang Provincial People’s Committee, the investor must pay the difference.
After full reimbursement, if state authorities (audit, inspection, or investigation) determine a higher asset value, the investor must pay the additional amount to the state budget.
Furthermore, Sun Airport Joint Stock Company is responsible for managing, maintaining, operating, and exploiting the assets at Phu Quoc International Airport once operational conditions are met, as per legal regulations.
Previously, the Civil Aviation Authority of Vietnam approved the security and safety plan during the survey and construction phase of the Phu Quoc Airport expansion project.
According to the An Giang Department of Finance, as of mid-September 2025, the Phu Quoc Airport expansion project is one of five projects among the 21 APEC 2027-related projects in Phu Quoc that have met or exceeded their scheduled timelines.
In recent times, the An Giang Provincial People’s Committee has held weekly meetings with investors, including Sun Group, to address challenges affecting project progress.
As per the investor’s overall construction schedule, the airport expansion project includes building Terminal 2, a new runway, and an aircraft parking area, with timelines ranging from 12 to 20 months depending on the component.
Key milestones include: pile foundation and concrete structure completion within 7 months; steel structure completion within 3.5 months; roofing and finishing within 6 months. The project is expected to be fully handed over in Q4/2026.
– 16:28 07/10/2025
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