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Singapore invests in Phu Bai International Airport

Changi Airports International (CAI) on February 26 signed a memorandum of understanding (MoU) with the Middle Airport Authority (MAA) in Hue to invest in and develop Phu Bai International Airport. The signing ceremony was attended by Singapore President S.R Nathan. This event marked the first close cooperation by a foreign investor with Vietnam Aviation.

Mr. Hoang Thanh, General Director of MAA said Phu Bai International Airport is the fourth largest in Vietnam and is an ideal gate for businesses and tourists to travel to Central provinces. Mr. Chow Kok Fong, General Director of CAI said that the airport plays an important role in Hue’s infrastructure, and drives for socio-economic development in the city and neighboring areas. Thus, CAI wants to share with Vietnam its experience of developing and exploiting Changi airports and its other airport systems in the world. This is the first time a foreign business was approved to invest in developing an airport in Vietnam. Phu Bai was built on an French old military airport. It operated in 1948 and is managed by the MAA. At present, the airport greets more than 500,000 tourists each year.

Changi Airports International Pte. Ltd. (CAI), a wholly-owned subsidiary of the Civil Aviation Authority of Singapore (CAAS), manages and invests in airports and airport-related assets worldwide. In 2006, it received 35.03 million passengers, making it the 6th busiest airport in the world. The opening of Terminal 3 in January 2008, will increase Singapore Changi Airport’s annual handling capacity to 70 million passengers.

Vietnam news Agency - February 29, 2008.