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Highlights
Vietnam – An attractive destination for aviation enterprises

Vietnam – An attractive destination for aviation enterprises

With strong growth potential in the coming years, Vietnam is an attractive destination for private aviation enterprises. Recognizing the practical benefits for aviation businesses through the promotion of technology products and services at fairs and exhibitions, the Vietnam International Aviation Exhibition (VIA) 2022 is a perfect place for enterprises entering the promising and prospective market in Vietnam.

Vietnam’s aviation industry is evaluated with great potential and strong development in the region. According to the forecast of the International Air Transport Association (IATA), Vietnam will be the fifth fastest-growing aviation market in the world, reaching 150 million passengers by 2035. Vietnam’s aviation industry 10 In recent years, there has been remarkable growth compared to other industries and many new airlines have appeared. This will also have a positive impact on other airline service businesses in the industry.

Overcoming the difficulties of the COVID-19 pandemic, Vietnam has begun to recover activities to welcome international tourists, restoring flight routes as in the pre-pandemic period. The International Air Transport Association (IATA) forecasts that the world aviation market will recover beyond pre-Covid-19 levels in early 2024 with the total number of passengers expected to reach 4 billion; particularly, Vietnam’s domestic market is forecast to recover at 96% right in 2022. Airlines are also gradually reopening all routes, increasing the frequency of serving the travel needs of people, upgrading and improving operations to provide safe and convenient flight experiences. Accordingly, international routes have been resumed by Vietnamese airlines with many countries, including Japan, Korea, Thailand, Singapore, etc.

With the above recovery speed and potential, many domestic and foreign enterprises have built up development strategies focusing on the promising Vietnamese market. In order to keep up with the development of the airline industry, the airport infrastructure in Vietnam also needs to be upgraded and expanded. Currently, the Government and State are directing the review and expansion of airport infrastructure (including Tan Son Nhat Airport, which is a hot spot) to remove difficulties for airlines. In addition, the Government also emphasizes the Long Thanh airport project, a particularly important national project with the largest total investment capital ever. With a favorable geographical location, it only takes 3 hours to fly to all Southeast Asian countries, Asia, connecting China, Korea, Japan, Long Thanh airport after 2030 will attract investment, and tourism, raising Vietnam’s level in the region and the world, not only economics but also national security. The investment and completion of the project will turn Vietnam into an attractive destination on the international aviation map, increasing the opportunity to compete with regional airports.

Rendering of Long Thanh airport – Photo: Ministry of Transport

Mr. Michael Nguyen, Country Director of Boeing Vietnam, said that Boeing continued to focus on promoting the strategic partnership with Vietnam. Boeing’s investments in Vietnam have helped develop the indigenous aerospace industry, create jobs, and spur innovation. Boeing is committed to innovation and cooperation for the sustainable development of Vietnam.

Embraer mentioned in its White Paper the development expectations in Vietnam that it is necessary to increase the capacity of the aviation industry to meet the air transportation demand, in line with the expected economic growth of the country is 6.4% in the period from 2021 to 2030.
According to Martyn Holmes, Commercial Director of Embraer Group, Vietnam is a country with strong economic potential, and the inclusion of modern jets like the E190-E2 on the domestic aviation map is certain. It will certainly open up many opportunities for new domestic and regional flight routes. E-Jets have been put into operation in Vietnam since 2020, helping to improve connectivity between domestic airports, notably the direct route Hanoi – Con Dao. First jet service from Hanoi and Ho Chi Minh City to Dien Bien Phu.

Universal Alloy Corporation (UAC), a specialization in manufacturing aircraft components and the world’s leading manufacturer of aircraft components, has decided to invest $170 million to manufacture Rolls Royce fuselages and engines in the Da Nang Hi-tech Industrial Park in 2019 with the goal of reaching an export value of 25 million USD by 2021, raising to 85 million USD by 2022 and creating an export value of over 180 million USD per year from 2026. Prime Minister Pham Minh Chinh visited and surveyed the aerospace component factory invested by UAC Group in June 2022.

Vietnam International Aviation Expo 2022, under the direction and support from the Government and state-related departments, will take place on 15-17th September 2022 at Vietnam National Convention Center, Gate 1, Thang Long Boulevard, Me Tri, Nam Tu Liem, Hanoi. Vietnam International Aviation Exhibition (VIAE) 2022 is a gathering place for many airlines, aircraft parts manufacturers, aviation service providers, etc., and is an opportunity for aviation enterprises to promote their products, services and trade connections among domestic and international businesses.

To date, many domestic and foreign companies have registered for sponsorship and reserved booths to display technology products and services at the Vietnam International Aviation Expo 2022. The exhibition attracts governments and delegates from many countries as well as high managers of aviation enterprises. Particularly is the participation and sponsorship from the Boeing (USA) aircraft manufacturing company that is designing the product display area, confirming the sponsorship of VIP Dinner, 3-day Workshop, and Embraer (Brazil) confirmed sponsorship and product display at the exhibition.

With the theme “Sustainable growth for a brighter future”, VIAE 2022 is a place to display a variety of products in the aviation industry’s supply chain and a place for trade promotion and business partner development. The expo is expected to attract more than 3000 visitors and 200 businesses from more than 50 countries around the world.

Reference: 

OpenSky News:

https://opensky.com.vn/viet-nam-diem-den-hap-dan-cua-cac-doanh-nghiep-san-xuat-hang-khong

Giao Thong Ket Noi – Opensky:

https://giaothongketnoi.opensky.com.vn/viet-nam-diem-den-hap-dan-cua-cac-doanh-nghiep-san-xuat-hang-khong 

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