The decision, signed on Wednesday by the provincial People’s Committee, appoints Phan Thiet Sun Airport Company Limited, a subsidiary of Sun Group, to build the project.

The provincial Department of Construction has been tasked with negotiating and finalizing the investment contract, while the Department of Finance will oversee the appraisal process.

Phan Thiet airport is a dual-use facility combining military and civilian operations, originally planned in 2013 on more than 543 hectares in Thien Nghiep commune of the former Binh Thuan province.

Last July, Lam Dong, Binh Thuan, and Dak Nong provinces were merged to form the current Lam Dong, home to Lien Khuong airport. The new Lam Dong Lam borders Dak Lak, Dong Nai, Khanh Hoa, Ho Chi Minh City, Cambodia, and the East Sea.

The military component, implemented by Vietnam’s Ministry of National Defense, has already been completed. Development of the civilian segment, however, had been delayed for several years due to adjustments in scale and investment structure.

In late 2025, provincial authorities approved the investment policy for the civilian terminal project with total capital of nearly VND3.8 trillion (about $144.9 million). The project will operate for 50 years under a competitive bidding model.

Under the plan, the investor must contribute at least 15% of the total capital, with the remainder financed through other legal funding sources.

The civilian aviation area will cover about 74.6 hectares and is designed to handle 4E aircraft, with a projected capacity of around two million passengers per year by 2030.

The airside infrastructure will include six aircraft parking stands, two taxiways connecting the apron, a 45-meter air traffic control tower, an operations building, and supporting navigation, lighting, and meteorological systems.

The passenger terminal is planned to span 16,000-18,000 square meters. The airport is expected to serve domestic flights and selected non-scheduled international routes.

Winning the Phan Thiet airport project strengthens Sun Group’s presence in Vietnam’s aviation sector.

In 2018, the company built and began operating Van Don International Airport, the country’s first privately developed airport in the northern province of Quang Ninh. Earlier this year, Sun Group also took over management and operations of Phu Quoc International Airport off southern Vietnam.

The group has also been involved in planning new aviation infrastructure. Last May, the Ministry of Construction agreed to receive a planning dossier for Con Dao Airport for the 2021-2030 period, with a vision to 2050, proposed by Sun Group.

More recently, following a request from authorities in the southern province of An Giang, the ministry accepted documentation funded by Sun Group for the planning of Rach Gia airport over the same timeline.

The expansion into airport development reflects Sun Group’s broader strategy to deepen its role in transport and tourism infrastructure, sectors closely linked to Vietnam’s fast-growing travel industry.

In 2025, tourist arrivals to Lam Dong province reached 20.76 million, up 18.1% year-on-year, according to the local tourism watchdog. Tourism earnings hit VND56.8 trillion ($2.17 billion), up 24.52%.