On November 18th, at the People’s Committee of Phu Quoc Special Economic Zone, the People’s Committee of An Giang Province, Vietnam Airports Corporation (ACV), the Southern Airports Authority, and Sun Group’s Sun Airway Company (SAC) signed Agreement No. 01/2025/TT. This agreement outlines the transfer of all aviation infrastructure assets from ACV to Phu Quoc International Airport.
Phu Quoc International Airport. Photo: ACV
The agreement was signed following the Prime Minister’s conclusion in Notification No. 625/TB-VPCP dated November 17th, 2025, and directives from a meeting chaired by the Prime Minister on November 14th. Its purpose is to resolve all asset and land-related issues, accelerating the airport expansion project in preparation for the 2027 APEC Summit.
Under the agreement, ACV will transfer all existing assets at Phu Quoc Airport in their current state, including runways, taxiways, service roads, security and emergency facilities, flight operation equipment, and related infrastructure. The People’s Committee of An Giang Province will act as the coordinating agency, receiving assets from ACV and immediately transferring them to SAC. This process will follow a special mechanism guided by the Ministry of Finance to ensure swift and uninterrupted airport operations.
Upon receiving the assets, SAC is responsible for compensating ACV for the remaining value of the assets, as per the appraisal results provided by ACV. The process will be completed in three steps: ACV submits asset value confirmation; the People’s Committee forwards the request to SAC within three days; and SAC completes financial compensation to ACV within ten days. All legal, technical, maintenance, and related documents for the assets will be fully handed over by ACV to SAC within ten days.
Rendering of Terminal 2 at Phu Quoc Airport
Rendering of the VIP Terminal at Phu Quoc Airport. Photo: SAC
During the transition period, ACV will continue to operate flights at Phu Quoc Airport to ensure uninterrupted and safe operations. The full transfer of airport management rights to SAC will only occur once it has fully received the assets and meets all industry regulations.
The signing of Agreement No. 01/2025/TT marks a critical legal step for the Phu Quoc International Airport expansion project to move into the actual construction phase. Previously, on June 19th, 2025, the People’s Committee of Kien Giang Province designated SAC as the project investor, with a scope of 1,050 hectares, 4E ICAO standards, and a target capacity of 20 million passengers annually. This is one of five projects on track or ahead of schedule among 21 priority projects for APEC 2027.
According to Sun Group, following the completion of the handover, SAC and relevant agencies will promptly implement key components, including Terminal 2, a new runway, expanded apron, and auxiliary systems, in line with the government’s directives from the November 14th meeting.
Earlier, in June 2025, the Ministry of Construction decided to revoke and transfer all state-invested infrastructure assets at Phu Quoc Airport, with an original value of over VND 1,937 billion and a remaining value of over VND 1,037 billion, from ACV to the People’s Committee of Kien Giang Province for management and processing as per regulations.
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