ACV Appoints Acting General Director Nguyen Duc Hung Amid Leadership Shake-Up

Overview

ACV (Tong Cong ty Cang Hang khong Viet Nam) has appointed Mr. Nguyen Duc Hung as Acting General Director, effective May 14, to fill the vacant position following a government directive to stabilize leadership. The appointment aims to enhance operational efficiency as ACV manages the Long Thanh International Airport project, one of Vietnam’s largest infrastructure investments.

Key Facts

• ACV’s Board of Directors appointed Mr. Nguyen Duc Hung as Acting General Director on May 14.
• Mr. Hung, born 1978, holds a Master’s degree in Business Administration and Electronics & Telecommunications.
• He has nearly 20 years of aviation industry experience, previously serving as Director of Noi Bai International Airport and as ACV’s Deputy General Director since 2020.
• ACV has a charter capital of over VND 35,828 billion, with the Ministry of Finance holding 95.41% state ownership.
• ACV shares trade on UPCoM, closing at VND 44,000 on May 15, up about 15% year-to-date.
• ACV operates 23 airports, including 11 international airports, and is the investor of the Long Thanh International Airport project with a total investment of approximately VND 336,630 billion.
• The first phase of Long Thanh Airport includes two runways and a terminal with capacity of 25 million passengers per year, with commercial operations expected from mid-2026.

What Happened

On May 14, ACV’s Board of Directors signed a decision appointing Mr. Nguyen Duc Hung, previously Deputy General Director, as Acting General Director. The appointment is effective immediately and will remain in place until the competent authority formally fills the General Director position. The move follows a directive from the Prime Minister during a meeting on May 4, where he urged ACV to urgently address two critical issues: completing the leadership structure for the Chairman and General Director positions, and resolving payment bottlenecks for contractors.

The Prime Minister also instructed the Ministry of Public Security to accelerate investigations into violations related to the Long Thanh project to ensure transparency and accountability. ACV’s leadership changes are part of broader efforts to stabilize management and expedite the Long Thanh airport project, which is a national priority.

Market Context

ACV shares closed at VND 44,000 on May 15, down 1.12% on volume of 764,600 shares. The stock has gained approximately 15% since the start of the year, reflecting investor optimism about the Long Thanh project and recovery in air travel. ACV is listed on UPCoM and is a state-owned enterprise with 95.41% ownership by the Ministry of Finance. The leadership appointment comes amid heightened government scrutiny of the Long Thanh project, which is Vietnam’s largest airport infrastructure undertaking.

Strategic Significance

The appointment of Mr. Nguyen Duc Hung as Acting General Director signals the government’s intent to stabilize ACV’s management and accelerate the Long Thanh International Airport project. With nearly two decades of aviation experience and prior leadership at Noi Bai International Airport, Mr. Hung brings operational expertise critical for managing ACV’s portfolio of 23 airports and the complex Long Thanh development. The government’s directive to resolve contractor payments and investigate violations underscores the political importance of the project, which is expected to boost Vietnam’s aviation capacity and economic growth. For investors, the leadership stability and project progress are key catalysts for ACV’s valuation.

What to Watch

• Formal appointment of a permanent General Director and Chairman by the competent authority.
• Progress on Long Thanh Airport phase 1 construction milestones and commercial operation timeline.
• Resolution of contractor payment issues and any further government directives.
• ACV’s Q2 2026 earnings report and updates on passenger traffic trends.
• Any developments from the Ministry of Public Security investigation into project violations.