Representatives from Sun Group, HAECO, Japan Airlines and Toyota Tsusho at the signing ceremony.

QUẢNG NINH - On June 16, at Vân Đồn International Airport, Sun Group, HAECO, Japan Airlines and Toyota Tsusho signed a joint venture agreement to develop a US$360 million maintenance, repair and overhaul (MRO) complex at Vân Đồn International Airport in Quảng Ninh Province.

The project is expected to mark a significant milestone for Việt Nam's aviation industry and strengthen the country's position in the regional aviation value chain.

Việt Nam's first private airport to host a large-scale MRO complex

The project represents a new chapter in the development of Vân Đồn International Airport, making it the first privately developed airport in Việt Nam to host a large-scale MRO facility.

The initiative is expected to create new growth opportunities for the airport, positioning it not only as an aviation gateway but also as an emerging aviation industrial hub of national significance.

Under the agreement, the partners will jointly invest in and develop the MRO complex on a site covering more than 20 hectares within the airport. In its first phase, the facility will be built to international standards and will have the capacity to accommodate four wide-body aircraft and two narrow-body aircraft simultaneously, making it one of the largest aircraft maintenance facilities in Việt Nam.

A second phase is planned to expand hangar space and operational capacity to improve efficiency and support future growth.

Scheduled to begin operations in 2028, the project is expected to create nearly 1,000 jobs, including around 200 positions for international experts and foreign employees. It is also expected to contribute to the development of a highly skilled aviation technical workforce in Việt Nam, where demand continues to exceed supply.

The partnership marks the first time a project in Việt Nam has brought together leading international players in aviation, aircraft engineering and industry. Combining HAECO's MRO expertise, Japan Airlines' operational experience, Toyota Tsusho's global industrial and commercial network, and Sun Group's growing aviation ecosystem, the partners aim to establish one of Việt Nam's leading MRO hubs.

The selection of Vân Đồn for the project aligns with development plans for both the district and Quảng Ninh Province. Quảng Ninh has emerged as one of Việt Nam's fastest-growing localities and continues to attract investment in technology, services, logistics and tourism.

Vân Đồn, in particular, is being positioned as a new growth driver thanks to its strategic location, integrated infrastructure and connectivity to major domestic and regional economic centres.

Strengthening Việt Nam's aviation technical capabilities

The project comes as Southeast Asia remains one of the world's fastest-growing aviation markets, while advanced MRO capabilities are concentrated in a limited number of countries, including Singapore, Malaysia, Indonesia and Thailand.

An illustration of the MRO complex at Vân Đồn International Airport.

In Việt Nam, aviation demand is expected to continue growing rapidly, with demand for maintenance services forecast to outpace fleet expansion. According to the Civil Aviation Authority of Vietnam, the domestic MRO market could reach approximately US$7.4 billion by 2030, while current local capacity meets only a fraction of demand.

Against this backdrop, the Vân Đồn MRO complex is expected to enhance Việt Nam's aircraft maintenance capabilities to international standards, strengthen technical self-reliance and reduce dependence on overseas MRO centres.

The facility is also expected to provide an important platform for Việt Nam to participate more deeply in the global aviation value chain and improve the competitiveness of its aviation industry.

In addition to investing in, operating and planning airports in locations such as Vân Đồn, Phú Quốc, Phan Thiết, Côn Đảo and Rạch Giá, Sun Group has been building an integrated aviation ecosystem spanning infrastructure, services, airlines and destination connectivity.

The development of the Vân Đồn MRO complex is expected to strengthen strategic self-reliance for Sun PhuQuoc Airways (SPA) by enabling greater control over aircraft maintenance and technical support while reducing dependence on overseas service providers.

More broadly, the project reflects Sun Group's long-term strategy of expanding into higher value-added segments of the aviation industry.

By developing an international-standard MRO complex in Vân Đồn, Sun Group aims to further strengthen its aviation ecosystem while supporting the development of Việt Nam's aviation industry. The project is expected to contribute to the transformation of Vân Đồn International Airport into a regional aviation industrial hub and enhance the country's competitiveness within the global aviation value chain.