The Airports Corporation of Vietnam (ACV) has recently made its debut at HCM City's Tan Son Nhat International Airport.
The Ministry of Transport has mandated that the agency, formed by merging the Northern, Central and Southern Airports Corporations, will operate as a one-member State-owned limited company.
The US$705 million corporation will perform a variety of tasks, including ensuring safety and security, and importing and exporting aviation equipment.
Speaking at the inauguration ceremony on February 18, Minister of Transport Dinh La Thang said the merger of the three corporations was "indispensable" for the development of the country's aviation industry and a preparatory step toward establishing a national aviation group.
Setting up the new corporation should not only affect the operation of airports around the country, but also improve their staff's living standards, he said.
It will soon focus on the completion of T2 Terminal at Hanoi's Noi Bai International Airport and terminals at Cam Ranh and Phu Quoc airports, he said.
In the long term, the ACV will equitise its subsidiaries and get investment from local and overseas sources into civil aviation infrastructure, he added.