Phu Quoc International Airport will be upgraded in preparation for the APEC Economic Leaders' Week in 2027. (Photo: VNA)

The project is set to be carried out under an investment – business model in line with the Law on Investment.

Under the resolution, the provincial People’s Committee is tasked with selecting domestic investors and operate the expansion project. The expansion must accommodate the airport's dual-use nature, serving both civilian and military purposes as outlined in Kien Giang province's proposal dated May 15, 2025.

The Government has granted Kien Giang province the authority to approve and adjust investment policies for the airport expansion. Environmental impact assessments, fire safety evaluations, and project design approval will also fall under the province’s jurisdiction.

Besides, the Government has ordered the transfer of all state-invested airport infrastructure from the Ministry of Construction to the province, excluding assets managed by Airports Corporation of Viet Nam (ACV) that are built on defence and security land and under the military control.

The Minister of Construction will decide the asset transfer process, including detailed portfolio specifying asset types, original and current values, technical parametres, current operational status, and land management and land use rights.

Kien Giang province will receive these assets without compensating the Ministry of Construction.

The province must work with the Ministry of Construction and ACV to continue maintaining and operating the transferred infrastructure under existing arrangements established in the Prime Minister’s Decision No. 2007/QD-TTg dated December 2020. This will remain in effect until Kien Giang completes investor selection and identifies qualified operators for the expanded facility.

The resolution establishes a financial framework channeling project revenues toward APEC 2027 infrastructure development. Surplus revenues from airport operations, calculated after deducting maintenance and operational costs, will flow into Kien Giang's budget for APEC-related infrastructure investments.

Meanwhile, reimbursement collected from land lessees and transferees will be also allocated for APEC preparation efforts.