Masterise Aviation Infrastructure, the investor of Gia Binh International Airport project in northern Vietnam, has revised its business registration, removing parent firm Masterise Group as its sole owner while keeping charter capital unchanged at VND29.3 trillion ($1.12 billion).

A business registration filing dated Wednesday shows the ownership status has shifted from Masterise Group to “not available/not specified,” raising the possibility that new investors have joined the company.

Illustration of Gia Binh International Airport in Bac Ninh province, northern Vietnam. Photo courtesy of Masterise.

Despite the change, the full VND29.3 trillion in charter capital remains entrusted to three individuals, with the authorization date updated to February 13, 2026.

Tran Hoai Viet Anh represents 40% of the capital, equivalent to VND11.72 trillion ($449.01 million), while Vu Hoang Long and Nguyen Thi Thu Tra each represents 30%, or VND8.79 trillion ($336.76 million) apiece.

Vu Hoang Long, born in 1982, serves as general director and legal representative of the company.

The updated capital representation date follows a February 13 board resolution by Gelex Infrastructure approving a plan to acquire a 20% stake in Masterise Aviation Infrastructure.

The adjustments come as Masterise moves forward with the Gia Binh International Airport in Bac Ninh province, a major infrastructure development assigned by the National Assembly to Masterise as investor under a non-state budget financing model.

The project has total estimated investment of more than VND196 trillion ($7.51 billion), with phase one requiring approximately VND146.2 trillion ($5.6 billion).

The project, about 40 km from central Hanoi, is expected to handle 30 million passengers and 1.6 million tons of cargo annually by 2030. The figures by 2050 will be 50 million passengers and 2.5 million tons.

It will be built to ICAO 4F standards. Total investment comprises equity capital (not less than 15%) and loans. The project's lifespan is 70 years.

The development will be carried out in two phases. In phase 1, from now to 2027, essential facilities will be completed to serve the APEC Summit in 2027. From 2026-2030, remaining phase 1 works will be finalized to ensure full operational capacity of 30 million passengers and 1.6 million tons of cargo per year.

For phase 2, from 2031-2050, construction will focus on expanding capacity to 50 million passengers and 2.5 million tons of cargo annually.

The project will require about 1,885 hectares of land, including 922 hectares currently used for two-crop rice farming.