Changi Airports International signs landmark agreement with Cam Ranh International Joint Stock Company to manage Vietnam’s Cam Ranh International Airport Terminal 2

Changi Airports International (CAI) and Cam Ranh International Joint Stock Company (CRTC) signed a contract today at the sidelines of the Singapore Airshow to manage Cam Ranh International Terminal’s non-aeronautical businesses and to support the growth of Cam Ranh International Airport’s international route development.

This landmark agreement is the first to materialise under a cooperation framework between CAI and Legacy Infrastructure (Legacy). Combining the international expertise of CAI as a global airport consultant, manager and investor, as well as the regional influence and resources of Legacy, the collaboration between CAI and Legacy aims to bring innovative solutions to the Vietnam aviation industry, enhancing connectivity, efficiency and international competitiveness.

Cam Ranh International Airport (CXR), the fourth busiest international airport in Vietnam, serves Nha Trang City and the Khanh Hoa province, an important tourist destination for Vietnam. In the next five years, CAI will work with CRTC to accelerate the revenue growth of CXR’s Terminal 2, and enhance the passenger experience in the terminal. Under the agreement, the contract can be extended for another five years.

Cam Ranh International Terminal (CXR’s Terminal 2), wholly-owned by CRTC, has more than 30 airlines as its partners is currently connected to more than 100 destinations worldwide. The agreement will also pave the way for the airport to enjoy increased connectivity to major airports worldwide and attract international partners, greatly enhancing CRTC's competitiveness and attractiveness.

Mr Eugene Gan, Chief Executive Officer of CAI, said, “Cam Ranh International Airport, which welcomed 6.5 million international visitors in 2019 before the pandemic and was the fourth busiest international airport in Vietnam, is undoubtedly one of the driving factors for the tourism development of Nha Trang. We are excited to apply the experience we have gained over the years to work with our valued partners and uplift the passenger experience at Cam Ranh International Airport, helping to further grow its potential as one of the leading airports in Vietnam.”

Mr Johnathan Nguyen, Chairman of CRTC and famed for being the visionary of Vietnam's aviation industry who is always taking the lead in pushing the frontier of the aviation scene, said, “Singapore Changi Airport is one of the world's leading airports, known for its exceptional service quality. The partnership between Changi Airports International (CAI) and Cam Ranh International Terminal marks a significant milestone, offering many aspects for improving service quality, putting advanced modern technology into practice, and helping CRTC to rapidly connect with airlines and airports over the world.

“The successful model of management cooperation between CRTC and CAI will be the first of its kind that CAI implements in Vietnam, opening up great opportunities for both parties in the field of airport operations and realising the vision of Imex Pan Pacific Group (IPPG) for strategic collaborations in Vietnam and other countries.”

Mr Hong Dijun, Chief Executive Officer of Legacy, said, “Following extensive regional analysis, Legacy Group has identified Vietnam as a pivotal strategic market in Asia. We are committed to contributing to Vietnam's rapid growth and plan to unveil four additional infrastructure projects by the end of the fiscal year, with a combined contract value exceeding US$2 billion. In the aviation sector specifically, through Mr Nicholas Duong, Legacy has discerned IPPG as a trusted and respected aviation ally to inaugurate this collaborative venture. Mr Johnathan is renowned for his illustrious contributions to the aviation industry and his advocacy for cutting-edge reforms. Legacy is proud to bring together this collaboration and reaffirms our dedication to invest and continue fostering partnerships with world-class experts and strategic allies to further enhance the country's infrastructure landscape.”