Phu Quoc International Airport
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The agreement was signed following the Prime Minister’s conclusion in Notification No. 625/TB-VPCP dated November 17, 2025, and directives from the meeting chaired by the Prime Minister on November 14. Its purpose is to resolve all asset and land-related issues, accelerating the expansion of the airport to support 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 An Giang Provincial People’s Committee will act as the coordinating agency, receiving assets from ACV and immediately transferring them to SAC under a special mechanism guided by the Ministry of Finance. This ensures a streamlined process without disrupting airport operations.
Upon asset receipt, SAC is responsible for compensating the remaining value of the assets based on ACV’s appraisal results. The process follows three steps: ACV submits asset value confirmation; the Provincial People’s Committee forwards the request to SAC within three days; and SAC completes financial support to ACV within ten days. All legal, technical, maintenance, and related documents for the airport assets will be fully handed over by ACV to SAC within ten days.
During the transition, ACV will continue to operate flights at Phu Quoc Airport to ensure uninterrupted and safe services. The full operational rights will only be transferred to SAC once it has fully received the assets and meets industry requirements.
The signing of Agreement 01/2025/TT marks a critical legal step for the Phu Quoc International Airport expansion project to enter the actual construction phase. Previously, on June 19, 2025, the Kien Giang Provincial People’s Committee appointed SAC as the project investor, with a 1,050-hectare scope, 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. Following the handover, SAC and relevant agencies will urgently implement key components, including Terminal 2, a new runway, expanded apron, and auxiliary systems, as directed by the Government on November 14.
Thus, the agreement not only fulfills legal obligations among ACV, the An Giang Provincial People’s Committee, and SAC but also paves the way for accelerating airport infrastructure development. This is essential for Phu Quoc to enhance its international visitor capacity, prepare for APEC 2027, and emerge as a competitive regional tourism and service hub.
SERVICES
– 08:38 09/12/2025
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