The project, located in Mui Ne Ward, has an estimated investment of VND 3.8 trillion (about USD 145 million) and an operating term of 50 years.
Authorities said the airport would help meet rapidly growing air travel demand, support socio-economic development and strengthen transport connectivity while serving defence, search and rescue, and security needs in Lam Dong Province and the wider south-central region.
Designed to accommodate 4E-class aircraft, the airport is expected to handle about two million passengers a year by 2030. Both domestic and international flights will operate from the facility, serving residents, tourists and investors from Vietnam and abroad, while also supporting humanitarian and social welfare missions.
Covering 74.6 hectares, the project includes aircraft aprons, taxiways, air navigation facilities and an air traffic control tower. The passenger terminal will have a floor area of about 18,000 square metres and will be capable of handling the full two million passengers annually.
The airport is expected to be completed and put into operation within 24 months after the investment policy approval is issued.
Construction of Phan Thiet Airport began in 2015. The military component, developed by the Ministry of National Defence, has already been completed and is now operational.
