ACV Reports Severe Labor Shortage at Long Thanh Airport, Risks Project Delays

Overview

Airports Corporation of Vietnam (ACV) has reported a severe labor shortage at the Long Thanh International Airport construction site, with only about 8,457 workers available against a planned requirement of 14,000. The shortage is impacting progress on key project components, including the passenger terminal (package 5.10) and infrastructure (package 4.8), and is compounded by rising fuel and material costs as well as competition for labor from other regional projects.

Key Facts

• Total workforce on site as of mid-April is approximately 8,457, meeting only 60% of the planned requirement of 14,000 workers.
• Package 5.10 (passenger terminal) saw daily workforce drop from 5,300 before January 26 to about 1,500 afterward; recent recovery to 3,400 still falls short of the 6,000 needed.
• Package 4.8 (airport infrastructure and transport) workforce declined from 1,500 to 1,200, against a need of 1,900.
• ACV cites competition from other major projects in Dong Nai province, including the Bien Hoa-Vung Tau expressway and expansion of HCMC-Long Thanh expressway.
• Rising fuel prices (nearly doubled) and material costs are increasing operational expenses and causing some contractors to work at a reduced pace.
• Shortage of design and supervision consultants is also affecting quality management and payment processes.
• ACV warns that prolonged fuel and material shortages could lead to work stoppages due to insufficient fuel for machinery.

What Happened

In a recent report to the government, ACV detailed significant labor shortages at the Long Thanh Airport construction site, particularly affecting the two largest packages: the passenger terminal (package 5.10) and infrastructure (package 4.8). The contractor consortium for package 5.10 had mobilized about 5,300 workers daily before January 26, but that number dropped sharply to around 1,500 afterward. While it has since recovered to about 3,400, it remains far below the required 6,000. Similarly, package 4.8 saw its workforce decline from 1,500 to 1,200 against a need of 1,900.

ACV attributed the shortage to intense competition for labor from other major infrastructure projects in the region, including the Bien Hoa-Vung Tau expressway and the expansion of the HCMC-Long Thanh expressway. Additionally, harsh working conditions at the site—such as large open areas, heat, and dust—make it difficult to attract and retain workers. Rising fuel and material costs have further strained contractors, with some adopting a wait-and-see approach or reducing work pace. ACV also noted a shortage of key design and supervision consultants, which is hampering quality control and payment procedures.

Market Context

ACV shares closed at VND 46,000 on April 14, 2026, up 0.43% with low volume of 222,100 shares on HOSE. The stock has been relatively stable, but the labor shortage and cost pressures at Long Thanh—the largest infrastructure project in Vietnam—pose execution risks that could weigh on sentiment. The broader construction sector is facing similar labor and cost headwinds, but ACV’s exposure is unique given its role as the state-owned operator of Vietnam’s airports and the project’s national importance.

Strategic Significance

The Long Thanh Airport project is critical to ACV’s long-term growth, as it will eventually replace the overloaded Tan Son Nhat and position Vietnam as a regional aviation hub. Persistent labor and material shortages threaten to delay the project’s 2025 target completion, potentially increasing costs and delaying revenue generation from the new airport. ACV’s ability to manage contractor performance and secure government support for cost adjustments will be key. The situation also highlights structural challenges in Vietnam’s construction sector, including labor competition and input price volatility, which could affect other listed contractors.

What to Watch

• Monthly workforce updates from ACV on the Long Thanh site, especially for packages 5.10 and 4.8.
• Government response to ACV’s report, including potential price adjustment mechanisms or labor allocation measures.
• Q2 2026 earnings release from ACV, which may reflect cost overruns or provisions related to the project.
• Progress on competing regional projects (Bien Hoa-Vung Tau expressway, HCMC-Long Thanh expansion) that are drawing labor away.
• Any announcements regarding fuel or material supply stabilization for the project.