International airport to boost Quang Ninh

The future airport is close to world natural heritage site Halong Bay

The company this month will submit an investment plan and other administrative procedures to the Quang Ninh People’s Committee. The step is to be taken six months after Joinus proposed replacing US-based Rockingham Asset Management LLC to invest in the airport.

“Joinus leaders told us they would submit a detailed investment plan this month. We are waiting for them,” said Nguyen Van Thanh, people’s committee vice chairman.

Apart from Van Don international airport, Joinus also proposed to build an expressway connecting Halong City with Van Don island. The investment capital for the two projects is initially estimated at about $1 billion each.

“We see the investor is implementing its commitment in preparing a detailed investment plan as well as proving their financial capacity,” Thanh said.

However, the investor and provincial authority have to send the investment plan to related ministries and the government for approval. This could take a long time, Thanh said.

“Investing into an airport is a sensitive area in which the government and private investors have to carefully discuss the management of the airport,” he added.

Van Don international airport is a key infrastructure project in Van Don Economic Zone, near world heritage site Halong Bay. The government wants to develop Van Don into an international trade centre and a high-class tourism area to serve the key northern economic region.

Previously, US-based Rockingham Asset Management LLC proposed to invest into the project. However, this investor withdrew last year due to financial difficulties.

Thanh said that the provincial authority would support Joinus in developing Van Don international airport as soon as possible.

“This is a very important project in the economic zone and in the province. Many investors want to see the construction of the airport before making investments in the zone,” said Thanh.

Located about 150 kilometres northeast of Hanoi and bordering China, Quang Ninh province has been luring in many foreign investors.

Last year, the United States-based Emerging Market Group proposed a $3 billion tourism project in the province, including a 2,000-room five-star hotel, a golf course, an international convention centre and a gaming facility for foreigners. The provincial authority is now waiting for the government’s approval for this project.

Bulgaria’s Nove Holdings two months ago expressed interest in building an expressway linking Hanoi and Quang Ninh’s Mong Cai town. Besides that, the investor also wanted to develop an entertainment park in Van Don Economic Zone.

United Arab Emirates’ Limitless, a business unit of Dubai World, is also investing in the $500 million Halong Star hotel development project in this province. The project is currently under construction.