Responding to the investor’s plan, the Ba Ria-Vung Tau People’s Committee has asked the province's Department of Planning and Investment as well as relevant authorities to supply initial information for investors as well as support them during the study process.
Vung Tau Airport covers an area of 172 hectares in the centre of Vung Tau city, which is a crowded residential area. The airport, managed by Southern Service Flight Company under the Ministry of Defence, hosts helicopter flights to serve oil exploration and exploitation activities at sea with a capacity of 100,000 passengers and 500 tonnes of cargo per year.
However, after considering the airport’s effect on the city’s space development plan and the flights’ threat to the lives of the locals, in September 2013 provincial authorities agreed to relocate the airport to a less densely populated area on Go Gang Island, some 12 kilometres away from the centre of Vung Tau city.
The cost for building a new airport was expected to be over $1 billion. The relocation project was then approved by the prime minister. Accordingly, the new airport will be built for both civil and military purposes, with funds coming from the national budget and investors.
However, as of now, the project has yet to be implemented because the province and relevant authorities have yet to find a suitable relocation plan.
Sojitz Group consists of approximately 400 subsidiaries and affiliates from Japan and around the world, with wide-ranging general trading company operations in a multitude of countries and regions.
Recently, Sojitz Planet Corporation, the plastic division of Sojitz Corporation, formed a strategic partnership with Rang Dong Plastics JSC to set up a new venture called Rang Dong Long An.
With total investment capital of $32 million, Rang Dong Long An is a 80:20 venture between Rang Dong Plastics and Sojitz Planet. The project will house three factories on an 8.7-hectare area in the southern province of Long An. The factories will apply the latest technology from Germany, Italy, Japan, Taiwan, and Korea.