The Vietnamese Government has asked the Ministry of Transport to submit a joint venture plan involving foreign investment to upgrade Phu Bai International Airport.
Prime Minister Nguyen Tan Dung has passed a master plan to upgrade Phu Bai into an international airport by 2020, at a total investment cost of VND12.5tn ($642m).
The project will include construction of parking plots for 20 aircraft by 2020, as well as expansion of the current runway before a second runway is built after 2030.
The upgraded airport will be able to handle large aircraft including the Airbus A320, A321, Boeing B767 and B777-200 Lr, according to VietNamNet Bridge.
The airport's passenger capacity will rise to five million each year by 2020, compared with its current capacity of 500,000 passengers, rising further to 9 million passengers by 2030.
Annual cargo capacity will also rise to 100,000t by 2020 and 200,000t by 2030.
Middle Airport Corporation has held discussions with Changi Airports International for establishing a joint venture to build the Phu Bai airport into a modern international airport.