Difficulties and challenges

Cam Ranh International Terminal was invested with a total capital of 3,735 billion VND, floor area of ​​50,500m2, initial design capacity from 2.5 to 4.5 million passengers per year. As soon as it came into operation, the terminal quickly demonstrated its outstanding potential when it reached 6.5 million passengers in less than two years, exceeding the design capacity. This is a remarkable achievement, affirming the role of the Terminal in connecting Vietnam with international destinations, especially in Asia and Europe.

Panoramic view of the modern, aesthetic appearance of Cam Ranh International Terminal at Cam Ranh International Airport

However, the Covid-19 pandemic that hit in early 2020 dealt a heavy blow to the global aviation, tourism and transportation industries, and Cam Ranh International Terminal was no exception. Passenger volume dropped by 100%, international flights were almost paralyzed, pushing the terminal into a serious crisis. During the 2020-2023 period, Cam Ranh International Terminal Joint Stock Company (CRTC), the terminal operator, recorded an accumulated loss of up to VND 1,582 billion. This huge loss caused investors' equity to fall into negative territory, putting great pressure on the board of directors and shareholders to find a solution to "turn the situation around".

Modern, airy space of Cam Ranh International Terminal

Inside Cam Ranh international terminal, there are many green areas that make passengers feel close to nature.

International passengers check in at Cam Ranh International Airport Terminal

However, in the midst of difficulties, the resilient spirit and strategic vision of the leadership, led by Chairman Johnathan Hanh Nguyen, has become a torch to light the way. He not only maintains his faith, but also strongly commits to partners, especially state-owned units, that Cam Ranh International Terminal will soon overcome the crisis and regain strong growth momentum.

The dramatic comeback

2023 marks an important turning point when Cam Ranh International Terminal begins to recover with an output of more than 2.4 million passengers. By 2024, this number will skyrocket to more than 4.3 million passengers, an increase of nearly 2 million passengers compared to the previous year, equivalent to an increase of 79%. What is more remarkable is that the output of the International Terminal is nearly double that of the domestic terminal at the same airport, affirming its position in serving international visitors to Vietnam.

Mr. Johnathan Hanh Nguyen is regularly present to inspect operations at Cam Ranh International Airport Terminal.

According to the 2024 financial report, CRTC recorded a profit of more than VND 336 billion - a very impressive result, demonstrating tireless efforts after a series of losses due to the impact of the Covid-19 pandemic. This profit not only significantly reduced accumulated losses but also brought confidence to investors in the ability to fully recover in the near future. With the current growth momentum, the Terminal is approaching the target of welcoming 8 million passengers by 2030, as planned in the investment phase of the project.

Speaking about this achievement, Chairman Johnathan Hanh Nguyen shared: “In 2024, we started to make a profit again and I believe that in just 2 years, Cam Ranh International Terminal will completely erase the accumulated losses from the years of the Covid-19 pandemic. I also commit to state capital partners that if there are any more losses, I will be fully responsible for compensating double the amount of those losses.” This commitment not only shows confidence but also demonstrates his responsibility to shareholders and strategic vision in developing aviation infrastructure.

Mr. Johnathan Hanh Nguyen chaired a meeting with key officials of Cam Ranh International Airport Terminal.

Mr. Johnathan Hanh Nguyen's confidence is not without foundation. With more than 40 years of experience in the aviation service industry, from the early days of starting his business to becoming one of the leading businessmen in Vietnam, he has experienced many ups and downs with this industry. "40 years ago, my first business was in the aviation sector. Since then, I have witnessed and understood every fluctuation of the industry," he said. As a leader of a private enterprise, he always maintains flexibility and innovative thinking to adapt to all fluctuations.

He commented: “In the coming years, when our country enters a major reform of administrative procedures to improve the efficiency of serving businesses, people, investors, and stimulating economic growth, economic and cultural exchanges with the world will become increasingly extensive. The demand for air travel and air cargo transport will explode, leading to a sharp increase in the number of international visitors to Vietnam, including Cam Ranh International Terminal and Phu Quoc.” This is the basis for him to continue to place his trust and commitment to invest heavily in aviation infrastructure.

Taking airports to new heights, focusing on "Pearl Island" Phu Quoc

Not stopping at recovering revenue from Cam Ranh International Terminal, Mr. Johnathan Hanh Nguyen and the Inter-Pacific Group (IPPG) are aiming for a larger strategy: Turning airports into centers connecting the economy, tourism and services.

In Cam Ranh, IPPG plans to continue investing in upgrading capacity, applying modern technology such as automatic check-in, automatic VAT refund and improving passenger experience following the model of Singapore's Changi Airport - one of the world's leading airports.

Imex Pan Pacific Group (IPPG) has taken steps to survey and research to invest in "Pearl Island" Phu Quoc.

At the same time, Phu Quoc - the place chosen by the Government to host the APEC Summit Week 2027 - is becoming the next destination in IPPG's investment plan. Mr. Johnathan Hanh Nguyen emphasized: "Phu Quoc was chosen by the Government to host the APEC Summit Week 2027, so resources are pouring in here to upgrade infrastructure, turning the 'Pearl Island' into a bright spot in the service economy and tourism. Therefore, IPPG decided to continue to research and invest heavily in connecting infrastructure, duty-free and duty-free retail tourism services, free trade zones and resort accommodation services in Phu Quoc."

The upgrade of Phu Quoc International Airport, with the participation of private enterprises such as IPPG and SunGroup, is not only to meet the demand for air transport but also to create a comprehensive service ecosystem. From duty-free shops, luxury resorts to international convention centers, Phu Quoc is shaping up to become a leading regional and global destination, ready to welcome leaders and businessmen from APEC member economies by 2027.

Mr. Johnathan Hanh Nguyen studies the map of the area expected to be invested in Phu Quoc.

The remarkable growth of Cam Ranh International Terminal after the pandemic, along with Chairman Johnathan Hanh Nguyen's strong commitment to invest in Cam Ranh and Phu Quoc in the coming time, is not only a story of economic recovery but also a testament to the vision of a businessman in accompanying the country's development. With 40 years of experience in the aviation, tourism and shopping services industry, Mr. Johnathan Hanh Nguyen is turning challenges into opportunities, contributing to bringing Vietnam closer to the goal of becoming the economic, tourism and aviation service center of the region.

When APEC 2027 takes place in Phu Quoc, the image of a vibrant, civilized Phu Quoc with beautiful scenery, or a modern Cam Ranh International Terminal - the gateway to the world-famous coastal city of Nha Trang,... will be a strong affirmation that Vietnam is not only ready to integrate but also capable of participating in leading the global playground. And behind those achievements is the mark of a team of patriotic businessmen, dedicated to their work and always putting the interests of the country and people first, of which Mr. Johnathan Hanh Nguyen is a typical example.

Source: https://daibieunhandan.vn/nha-ga-quoc-te-cam-ranh-cu-loi-nguoc-dong-ngoan-muc-duoi-tam-nhin-chien-luoc-cua-chu-cich-johnathan-hanh-nguyen-post407508.html