VN, Singapore step up aviation cooperation
VGP – PM Nguyen Xuan Phuc on Thursday witnessed the signing of a Memorandum of Understanding (MoU) to set up a joint venture between Viet Nam Airlines and Singapore’s ST Aerospace.
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PM Nguyen Xuan Phuc at the signing ceremony of MoU on establishing a joint venture between Viet Nam Airlines and ST Aerospace. Photo: VGP |
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Under the MoU, ST Aerospace will provide the Vietnamese counterpart with maintenance, repair and overhaul solutions.
The joint venture, headquartered in the Noi Bai International Airport in Ha Noi, is expected to help Viet Nam Airlines shorten turnaround time for maintenance and repairs as these will now be carried out in Viet Nam, thus reducing costs and creating higher operational efficiency.
Speaking at the signing ceremony, Lim Seth Ghee, ST Aerospace President said the robust development of the economy and a burgeoning middle class have created an ideal environment for the growth of aviation in Asia Pacific and Viet Nam’s double digit growth in the air travel sector is the best reflection of this.
The MoU was one of the 16 documents signed on the occasion of PM Phuc’s on-going official visit to Singapore./.
By Thuy Dung
