A Swedish state-owned entity proposed a commercial loan of over US$1 billion for the construction of Long Thanh airport, the would-be largest of its kind in Vietnam.

A devaluation of the VND would have serious consequences on macro-economic stability, the trust of investors and the people, resulting in a big loss to the economy, Prime Minister Nguyen Xuan Phuc has said.

The first phase of the project, estimated at VND99 trillion (US$4.25 billion), is set to be completed within 60 months and become operational by December 2025.

The Long Thanh International Airport, with a favorable geographical location, is expected to be equipped with the latest aviation technology and capable of handling various types of aircraft.

The representative office is in charge of counseling the Southern Airport Authority on the closure of Long Thanh airport if necessary.