ACV Ordered to Complete Long Thanh Airport Phase 1 by 2026

Overview

The Government Office issued Notice No. 516/TB-VPCP on 7 October 2026, conveying instructions from Permanent Deputy Prime Minister Phạm Gia Túc after an on-site inspection of the Long Thanh International Airport project and its connecting roads. The notice directs Tổng công ty Cảng hàng không Việt Nam (ACV), the project’s investor, to complete phase 1 and bring the airport into operation within 2026, as required by National Assembly Resolution 94/2015/QH13.

Key Facts

• Notice No. 516/TB-VPCP dated 7 October 2026, issued by the Government Office following an inspection by Permanent Deputy Prime Minister Phạm Gia Túc.
• Phase 1 of Long Thanh International Airport must be completed and put into operation within 2026, per National Assembly Resolution 94/2015/QH13.
• ACV must submit a detailed schedule for each remaining work package to the Ministry of Construction before 10 October 2026.
• Contractors are instructed to move to a sprint mode and work 24/7 on critical-path items with large remaining volumes.
• The project is described in the notice as a USD 16 billion “super airport” and a national priority infrastructure asset.
• Stated constraints include shortages of human resources and raw materials, payment issues, rising prices, and several contractors with very slow progress.
• The notice covers both the airport and connecting transport routes across Hồ Chí Minh City and Đồng Nai province.

What Happened

The Government Office’s notice follows a site inspection led by Permanent Deputy Prime Minister Phạm Gia Túc and formalises a set of binding instructions for ACV and relevant ministries, localities and contractors. The notice states that phase 1 of Long Thanh must be completed and operational in 2026, calling this an obligatory task that is “very heavy” given the large volume of remaining work and limited time. It cites difficulties in labour supply, payment procedures, raw material shortages and rising prices, and notes that some contractors and packages have shown almost no progress.

ACV is specifically instructed to immediately review all remaining work volumes, especially in packages with large outstanding volumes that sit on the project’s critical path. The company must prepare a detailed schedule for each item, identifying which works are needed for commercial exploitation, the trial-run date, the commercial operation date, and the completion date for the whole of phase 1. That report is due to the Ministry of Construction before 10 October 2026. The notice also directs a shift to round-the-clock construction on critical items, daily progress control, and immediate escalation of issues beyond delegated authority.

Market Context

ACV trades on UPCOM, Vietnam’s unlisted public company market, and closed at VND 40,900 on 7 October 2026, the same day the notice was issued. As the state-owned operator of Vietnam’s international airport network, ACV is the listed entity most directly exposed to Long Thanh’s construction timeline and eventual revenue contribution. The project sits within Vietnam’s broader push to expand strategic transport infrastructure, a theme that has driven interest in construction, materials and airport-related names on HOSE, HNX and UPCOM through 2026.

Strategic Significance

For long-term investors, the notice reframes Long Thanh from a long-dated pipeline asset into a near-term execution test for ACV. Meeting a 2026 opening would add substantial international passenger and cargo capacity to ACV’s network ahead of the planned closure of Tân Sơn Nhất’s older terminals, supporting the company’s medium-term revenue base. The explicit mention of payment difficulties and slow contractors also signals cost and schedule risk: any slippage beyond 2026 would delay the earnings inflection that underpins ACV’s valuation, while accelerated 24/7 work could raise near-term capital needs.

What to Watch

• ACV’s detailed schedule submission to the Ministry of Construction, due before 10 October 2026.
• Confirmation of trial-run and commercial operation dates for phase 1, and whether the 2026 deadline holds.
• Progress reports on critical-path packages and any contractor replacement or acceleration measures.
• ACV’s next financial disclosure for updates on capital expenditure, payment issues and cost inflation.
• Government inspection outcomes for the connecting road routes in Hồ Chí Minh City and Đồng Nai.