|Planes at Noi Bai International Airport (Huy Hung/ VNA)
Experts calculate that when the aviation sector grows 2.5%, it stimulates GDP to grow 1%. That means solutions to boost the aviation sector are vital to socio-economic recovery and development.
Economist Vu Dinh Anh said: “The financial interests of the aviation sector depend largely on debt. Policies and solutions are needed that reduce the financial burden on aviation businesses by paying down old debt, lowering interest rates, and providing new loans. Fuel prices and other input costs have increased. Being allowed to adjust their fare ceiling would help airlines reduce their losses and turn a profit.”
Le Anh Tuan, Deputy Minister of Transport, agrees that the aviation sector needs incentive policies to overcome difficulties. “65% of revenues come from international flights. The Ministry of Transport will propose policies to help the aviation sector, because the pandemic limited the number of flights. Other countries have financial support policies, so should Vietnam,” Tuan said.
Leaders, managers, and experts have proposed policies to help aviation businesses recover from the pandemic’s economic effects, attract foreign passengers once again, and resume support of the global supply chain.