US Firm Eyes Investment in Two Airports in Vietnam's Gia Lai Province

HAS Development Corporation (HASDC) of the United States has signed a principal agreement with FLC Group to invest in and upgrade Phu Cat Airport and Pleiku Airport in Gia Lai Province. Under this agreement, the parties will jointly study plans for investment, upgrading, and expansion of the two airports in Gia Lai Province to increase capacity and improve service quality. Earlier, on July 10, Gia Lai Province approved FLC Group's proposal for upgrading and expanding Phu Cat and Pleiku airports under a public-private partnership (PPP) model. Established in 2001, HASDC is headquartered in the US and specializes in aviation infrastructure investment, development, and consulting, particularly in Latin America and Central America. The company has participated in privatization, concession, and PPP projects in the airport sector. It currently operates several airports, including Quito International Airport, the largest airport and transportation gateway in Ecuador, under a concession agreement with the city of Quito. HASDC is actively promoting investment cooperation opportunities in the Asia-Pacific region, with Vietnam considered a key market for aviation infrastructure development and exploitation. According to the airport system plan vision towards 2050, Phu Cat Airport will be upgraded from 4C to 4E class, with a capacity of 3 million passengers per year by 2030. The estimated investment cost for this phase is approximately VND 8,785 billion. By 2050, the airport's capacity could be increased to 7 million passengers per year, with an investment cost exceeding VND 6,300 billion. Similarly, Pleiku Airport is slated to increase its passenger handling capacity from 600,000 passengers per year to 2 million by 2030. The estimated investment for upgrading is around VND 12,660 billion. By 2050, it could be upgraded to 4E class, serving 5 million passengers per year after an additional investment of VND 8,785 billion.