Four companies have reached an agreement to establish a joint venture to develop an aircraft maintenance, repair, and overhaul (MRO) complex at Van Don International Airport in Quang Ninh province.
The joint venture includes Hong Kong Aircraft Engineering Company Limited (HAECO), Sun Group , Toyota Tsusho Corporation, and Japan Airlines Co., Ltd., with a total investment of approximately US$360 million.
Van Don International Airport, Quang Ninh
Enhancing aircraft maintenance capabilities
Southeast Asia is one of the fastest-growing aviation markets in the world . In Vietnam, the increasing demand for air transport is projected to drive aircraft maintenance service demand at a rate exceeding the growth of the aircraft fleet. Meanwhile, MRO capacity is currently concentrated in a few countries such as Singapore, Malaysia, and Thailand.
According to the Vietnam Civil Aviation Authority, Vietnam’s MRO (Maintenance, Repair, and Operations) market is projected to reach approximately US$7.4 billion by 2030. However, current domestic maintenance capacity has not kept pace with the growth in demand, making the expansion of maintenance capacity an urgent requirement.
This project is being implemented to address the aforementioned structural supply-demand imbalance, while simultaneously enhancing Vietnam’s aircraft maintenance capabilities and strengthening its technical self-reliance.
Signing ceremony for the cooperation agreement on investment and MRO development at Van Don International Airport
In addition, Quang Ninh province and the Van Don area are actively attracting high value-added industries alongside tourism, services, and logistics.
With its strategic location and advantageous transportation infrastructure, this area is expected to become a new engine of growth.
The project will also contribute to local economic development by creating jobs and promoting the formation of related industries.
The project aims to meet the growing demand for aircraft maintenance in Southeast Asia, while contributing to the development of Vietnam’s aviation industry and strengthening the regional aviation value chain.
Let’s develop a complex that meets international standards.
Sketch of the aircraft maintenance, repair, and overhaul (MRO) complex at Van Don International Airport, Quang Ninh province – Photo: SG According to the agreement, the four companies will jointly develop an internationally standardized MRO complex on a plot of land approximately 20 hectares in size at Van Don International Airport.
This complex has the capacity to accommodate four wide-body aircraft and two narrow-body aircraft simultaneously, and is expected to become one of the largest aircraft maintenance centers in Vietnam.
The project is expected to become operational in 2028 and create approximately 1,000 jobs (including around 200 foreign professionals), contributing to the development of high-quality human resources for the aviation industry.
The project brings together the strengths of leading businesses in the aviation, technical maintenance, and industrial sectors. By combining these strengths, the partners aim to build a highly competitive and internationally recognized MRO center.
HAECO: Providing advanced maintenance technology and operational expertise as a global MRO service provider.
Sun Group: Leveraging its experience in developing airports and aviation-related infrastructure in Vietnam.
Toyota Tsusho: Contributing its expertise in global supply chain development and management, along with its experience in fostering cross-border business alliance models.
Japan Airlines: Providing operational and maintenance expertise based on safety and quality, while supporting human resource development.
Mr. Junmin Zhao – President of Asia Pacific Region, Toyota Tsusho Corporation
This MRO complex is expected to raise Vietnam’s aircraft maintenance capabilities to international standards, while also creating a foundation for reducing reliance on overseas maintenance facilities. The project is also expected to support Vietnam’s deeper participation in high value-added segments of the global aviation value chain.
Through this project, the four companies will combine aviation infrastructure, maintenance technology, operational capabilities, and industry networks to contribute to building a sustainable aviation ecosystem and promoting the development of the aviation industry.
Toyota Tsusho Corporation is a diversified trading company under the Toyota Group. Toyota Tsusho operates globally in eight business areas: Metal+, Circular Economy, Supply Chain, Mobility, Green Infrastructure, Digital Solutions, Lifestyle, and Africa. Building on its foundation in the automotive industry, the company is expanding its operations into growth areas such as renewable energy, resource recycling, and business activities related to Africa, thereby contributing to solving social problems and realizing a sustainable society.