Oct. 25 – According to the International Air Transport Association, over the next year Vietnam should become the world’s third-fastest growing market for international passengers and freight. It will also be the second-fastest growing market for domestic passengers.
In addition, Vietnam’s Department of Aviation has predicted that the country will see an increase of 15 percent in domestic passengers in 2013 (over double last year’s 7 percent growth rate).
The Vietnamese airline industry is currently quite small, but it is poised for massive growth with the domestic airlines planning to either double or even triple their fleets as they seek to service the country’s 90 million plus citizens over the next few years. Further, the fast growing tourist industry has been increasing at a 20 percent rate year-on-year. Continue reading
May 10 – The residents of Phan Thiet City in Vietnam’s central Binh Thuan province can soon expect an influx of tourists as a new airport is built in the area, scheduled for opening in 2017. Plans for the airport have already been submitted to the central government for approval.
The airport, which reportedly will cost over VND5.6 trillion (US$265 million) to build, and which will span around 500 hectares (1235 acres), will be located in Thien Nghiep – a coastal area near Mui Ne Beach.
Initially, its facilities and landing areas will only be able to accommodate smaller planes and helicopters, providing services to over 500,000 passengers annually. Also, it is expected to offer 12 air routes of distances under 800 kilometers (500 miles) on top of 12 services of distances below 2,000 kilometers (1,200 miles). Continue reading
Nov. 17 – The Vietnamese government approved and outlined plans for two new international airports in a meeting chaired by Deputy Prime Minister Hoang Trung Hai on Monday – one in the southern province of Dong Nai and one in the northern port city of Haiphong.
Construction on Dong Nai’s Long Thanh International Airport has been structured into two phases with the first phase scheduled to be completed by 2020 and the second phase to be finished by 2035. The airport is projected to handle 3 million tons of cargo and between 80 million to 100 million passengers annually. Continue reading
HANOI, Oct. 6 – Vietnam and the European Union signed an aviation agreement on Monday that will remove nationality restrictions in the bilateral air services agreement between the EU member states and Vietnam.
According the European Chamber of Commerce in Vietnam, the agreement will allow any EU airline to operate flights between any EU Member State and Vietnam, where a bilateral agreement exists and traffic rights are available.
Any EU airline will be able to operate flights between Vietnam and any EU member state in which it is established, where a bilateral agreement between the EU Member State concerned and Vietnam already exists and traffic rights are available. Continue reading
Sept. 21 – National air carrier Vietnam Airlines has announced that it would slash international airfare tickets from Vietnam by as much as 85 percent in celebration of Hanoi’s 1,000th year anniversary.
Flight bookings must be made starting September 30 to October 10 applicable for trips taken from October 15 to December 21, 2010 and April 1 to May 31, 2011. Continue reading
Sept. 7 – The country’s flag carrier, Vietnam Airlines, has announced it will slash fares on domestic flights by 50 percent from September 15 to October 30.
The heavily discounted rates will include routes coming from the capital, Hanoi and the financial center, Ho Chi Minh City. The discounted prices will range from VND400,000 to VND860,000 per flight following the routes below: Continue reading
Aug. 26 – Vietnam is seeking foreign investment partners to upgrade Phu Bai Airport in Thua Thien-Hue Province in central Vietnam by 2020.
Authorities want the airport to be up to international standards with the capacity to cater to five million passengers. Currently, the airport can only serve 500,000 passengers annually. Continue reading
Jun. 14 – Vietnam Airlines is planning to expand routes to the west coast of the United States and is also looking into direct flights to the United Kingdom said the carrier’s CEO, Pham Ngoc Minh.
Speaking to the BBC, the executive officer said that he thought the expansion program would be completed by the first half of next year. Currently Vietnam Airlines flies to three European cities in France, Germany and Russia.
Apr. 5 -The Vietnamese government has said that foreign investment in the country’s airlines cannot be restricted.
According the Transport Ministry, existing laws do not allow the government to restrict FDI in the sector, making the Malaysian budget carrier AirAsia’s acquisition of a 30 percent stake in VietJet Air legitimate.
The stake transfer in February was carried out in accordance with the Enterprise, Investment and Civil Aviation Laws, and it will not create a new airline in Vietnam, Vietnam Economic Times cited a Transport Ministry’s note as saying Thursday. Continue reading
By Joyce Roque
Mar. 17 – Foreign investors in Vietnam may need to import components of their business not readily available in the local market.
Import duty rates regularly change so it is best to always keep abreast with the latest rates. Authorities however prefer businesses that do not import majority of their manufacturing needs from overseas. Enterprises and business cooperation contract parties doing business in the country are allowed the following import tax exemptions: Continue reading