Of the total, US$6 billion will be to the HCM City-Long Thanh International Airport, US$8 billion to the new Hanoi International Airport, and more than US$1 billion to the Chu Lai International Airport in central Vietnam.

With such investments Garuda will become the biggest foreign investor in the country so far.

The group signed a Memorandum of Understanding (MoU) on conducting Long Thanh airport feasibility study with the municipal People’s Committee on January 20.

Long Thanh airport will be about 43 km from the hub of HCM City . It is expected to generate 5,500 permanent jobs for Vietnamese workers.

Last month, the Garuda Group also reached an MoU with the Airport Design Construction Consultancy to set up a joint venture to build a new Hanoi International Airport, its biggest project in Vietnam. It also agreed with the Middle Airport Corporation to establish a joint venture to build Chu Lai International Airport in the central province of Quang Nam, which would be larger than Da Nang International airport.

The group set up an office in Hanoi last year, providing consulting, investment and construction services for infrastructure projects, market surveys and trade promotions. It also intends to set up an office in Ho Chi Minh City.