The project is being developed by Sun Phan Thiet Airport Co., a unit of Sun Group, on nearly 75 hectares in Mui Ne Ward.
It is Vietnam’s first privately funded civil airport project and will use dual-use infrastructure, including runways and taxiways built by the military, serving both defence and civilian purposes.
Built to 4E standards, the airport will handle wide-body aircraft and initially serve about 2 million passengers a year. Its 18,000-square-metre terminal is inspired by Cham architecture and the Po Sah Inu towers.
The broader 543-hectare dual-use airport project was first approved in 2013, with military-funded components already completed.
Once operational, the airport will serve domestic routes and be capable of handling unscheduled international flights, helping boost tourism in the Mui Ne-Phan Thiet area.
Lam Dong authorities said the project would support investment in tourism, trade, logistics and aviation services, while creating jobs and driving local economic growth.