In 10 years, the Asia Pacific region is seen to surpass Europe and North America in numbers of cargo and passengers. However with the current limited capacity available, congestion, delays and cancelled flights are challenges the market needs to urgently cope with.
Philippines announced to commit and invest more than 40% of its $55 Billion dollars national budget in airport infrastructure in 2020. The focus is to further enhance, expand and increase passenger satisfaction demand, but also increase productivity and efficiency, and lifting operations up to global standards. Among the investments are 2 new major airport projects: the $15B dollar New Manila International Airport and the $ B10 billion Sangley International Airport.
The Southeast Asia region has great potential and continues to improve strategic policy approach and partnerships to guarantee full benefits of expected traffic growth. Thailand's Suvarnabhumi International Airport received its go signal for $4 billion dollar expansion. While Vietnam’s USD16.3 billion Long Thanh airport is set to start its 5-year phase I construction.
At the 8th Southeast Asia Airport Expansion Summit, government officials, airport operators and management groups, investors, EPCs will be meeting architects, technology and equipment vendors, distributors, consultants, air traffic controllers, airlines and ground handlers to discuss projects, investments and partnerships.