Plan for business production and development investment of Vietnam Air Traffic Management Corporation for the year 2024

Plan for business production and development investment of Vietnam Air Traffic Management Corporation for the year 2024​ (Image from the internet)

On June 10, 2024, the Ministry of Transport of Vietnam issued Decision 715/QD-BGTVT approving the Plan for business production and development investment of Vietnam Air Traffic Management Corporation for the year 2024.

Plan for business production and development investment of Vietnam Air Traffic Management Corporation for the year 2024

The Ministry of Transport of Vietnam approved the Plan for business production and development investment for 2024 with the following targets and implementation solutions:

(1) Key Targets:

* Air Traffic Service Provision Plan:

The Vietnam Air Traffic Management Corporation is an enterprise performing public service through service charge collection, ensuring the following targets:

- Service volume (Flight operations): 800,370 operations, an increase of 5.74% compared to 2023. Specifically:

- Domestic and international flight operations: 426,130 operations, equivalent to 90.94% of 2023 performance.

- Overflight operations: 374,240 operations, an increase of 29.79% compared to 2023.

- Flight operations distance: 1,782,928,670 km, an increase of 6.71% compared to 2023.

- Service quality: Ensuring safety, regularity, and efficiency for 100% of flights within the assigned responsibility area.

* Financial Plan:

- Total revenue: 5,641,074,439,000 VND, an increase of 12.98% compared to 2023.

- Gross revenue: 3,897,889,011,000 VND, an increase of 6.01% compared to 2023.

- Total expenditure: 2,798,146,375,000 VND, an increase of 8.50% compared to 2023.

- Net profit after tax: 885,594,109,000 VND, an increase of 3.77% compared to 2023 (after contributions to the Science and Technology Fund).

- Obligated contribution to state budget: 2,427,810,506,000 VND, an increase of 18.81% compared to 2023.

* Investment Construction Plan:

- Total projects: 97 projects.

- Total expected investment: 9,575 billion VND.

- Disbursement plan for 2024: 1,198 billion VND.

(Details specified in the accompanying Appendix)

(2) Implementation Solutions:

* Air Traffic Service Assurance:

- Continue focusing on directing, managing, organizing, and implementing the responsibilities of providing air traffic services, ensuring 100% safe, regular, and efficient flight operations within the assigned responsibility area.

- Effectively implement safety and security inspection, and supervision at air traffic service provision facilities. Strengthen inspection and strictly maintain duty policies, closely monitor weather developments, coordinate, and cooperate tightly with related agencies and units, promptly handle situations to ensure absolute flight operation safety, particularly during major holidays of the year.

- Prioritize solutions to enhance self-maintenance and exploitation of technical equipment effectively, cost-savingly, and in accordance with standards, ensuring continuous and stable communication to serve flight operations and air traffic management.

* Investment Planning, Finance, Labour, and Salaries:

- Develop and manage the business production plan and investment construction plan for 2024 suitable to, and closely following the actual situation.

- Implement sound financial and accounting policies, focusing on accelerating the progress of settlement of completed projects and regular expenditure tasks. Regularly review and save on regular expenses.

- Update and review economic and technical norms of services provided by the subsidiary company appropriate to the actual situation.

- Accelerate the implementation and disbursement plans of projects carried over from 2023; continue focusing all resources to accelerate key projects such as: subproject 2 "Air Traffic Management Facilities" under phase 1 of Long Thanh International Airport Project; Ho Chi Minh Air Traffic Control Center (ATCC/HCM), ensuring completion on schedule as planned; improve the quality and efficiency of investment work.

- Based on the 5-year plan for the 2021-2025 period approved by the Ministry of Transport, forecast from ICAO and IATA for the global and regional aviation market, build and implement business production plans, investment construction plans, disbursement phases, and determine capital needs, balance the ability to ensure funding sources, and develop scenarios for raising investment capital for development to ensure the implementation of specialized key programs and projects on schedule as per Decision 236/QD-TTg of the Prime Minister of Vietnam and Decision 22/QD-BGTVT on the master plan for the development of information, navigation, surveillance, and air traffic management systems up to 2020, with orientations to 2030.

- Actively coordinate with the Ministry of Transport and Vietnam Civil Aviation Authority in executing land procedures and preparing investments in key projects. Closely coordinate with relevant agencies to urgently complete the handover of assets ensuring air traffic operations from Quang Ninh Provincial People's Committee to Van Don International Airport, ensuring compliance with the law and non-disruption of the corporation's business operations.

See detailed content at Decision 715/QD-BGTVT effective from June 10, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE