Vietnam’s Sun Group and India’s GMR Group signed a memorandum of understanding on May 7, 2026, to advance aviation infrastructure and connectivity across Sun Group’s airport portfolio in Vietnam, including Phu Quoc, Van Don, and the newly commenced Phan Thiet Airport. The agreement, signed during the India-Vietnam Business Forum in Mumbai in the presence of Vietnam’s Party General Secretary and State President To Lam, positions Sun PhuQuoc Airways to establish direct Phu Quoc–India routes within 2026.
Key Facts At A Glance
- MOU signed May 7, 2026, in Mumbai at the India-Vietnam Business Forum
- Covers cooperation across Sun Group’s airport ecosystem: Phu Quoc International Airport, Van Don International Airport, and Phan Thiet Airport
- GMR Group manages airports with combined annual passenger capacity of approximately 190 million, including Indira Gandhi International Airport in New Delhi
- Sun PhuQuoc Airways appointed Minar Group, representing 11 international airlines across 32 countries, as its General Sales Agent in India
- Nonstop Phu Quoc–India routes targeted for launch within 2026
- Indian arrivals to Vietnam reached approximately 750,000 in 2025, up nearly 50 percent year-on-year, and exceeded 242,000 in Q1 2026, up 169.3 percent year-on-year
- Phu Quoc welcomed over 150,000 Indian visitors in 2025, generating tourism revenue of nearly VND 44 trillion (approximately USD 1.67 billion)
Vietnam’s Private Airport Ambitions Meet A Global Operator
Vietnam’s Sun Group, a leading private real estate and tourism conglomerate, formalised a memorandum of understanding with India’s GMR Group on May 7, 2026, establishing a framework for long-term cooperation across Sun Group’s expanding airport portfolio in Vietnam. The signing ceremony took place in Mumbai during the India-Vietnam Business Forum, held alongside the state visit of Vietnam’s Party General Secretary and State President To Lam, and was attended by senior leaders from both countries.
GMR Group brings more than two decades of airport infrastructure experience. The Indian operator currently develops and manages major airports across India, Indonesia, the Philippines, and Greece, including Indira Gandhi International Airport in New Delhi, one of the world’s busiest terminals. The combined annual passenger capacity of airports within GMR Group’s development portfolio reaches approximately 190 million.
Scope Of The Agreement
Under the MOU, Sun Group and GMR Group will collaborate across three operational airports in Vietnam: Phu Quoc International Airport, which Sun Group took over and is positioning as a “destination airport” model; Van Don International Airport in northern Quang Ninh Province, the group’s first airport development; and Phan Thiet Airport in Lam Dong Province, for which Sun Group broke ground on the civilian aviation component on April 27, 2026.
Cooperation covers airport operations, development, and investment, including non-aeronautical commercial activities and duty-free retail. The parties have also agreed to explore new flight routes connecting Phu Quoc with key airports in GMR Group’s network, with the stated objective of boosting tourist flows and bilateral trade.
India As A Growth Market
The MOU is anchored in rapidly accelerating inbound demand from India. According to the Vietnam National Administration of Tourism, Vietnam welcomed approximately 750,000 Indian visitors in 2025, a year-on-year increase of nearly 50 percent and more than four times the 2019 figure. India has entered Vietnam’s top six inbound markets. In the first quarter of 2026, arrivals from India surpassed 242,000, representing a 169.3 percent year-on-year increase.
Phu Quoc has emerged as the most popular Vietnamese destination among Indian travelers. The island recorded over 150,000 Indian visitors in 2025 and generated tourism revenue of nearly VND 44 trillion, equivalent to approximately USD 1.67 billion, driven by the destination’s integrated resort and entertainment ecosystem, Vietnam’s 30-day visa exemption for international visitors, and improving air connectivity.
Sun PhuQuoc Airways Moves Into The Indian Market
At the same ceremony, Sun PhuQuoc Airways officially appointed Minar Group as its General Sales Agent in India. Minar Group has operated for more than 33 years, maintains a presence in 32 countries, and currently represents 11 international airlines. The appointment is expected to accelerate the expansion of Sun PhuQuoc Airways’ Indian distribution network and support the carrier’s plan to launch nonstop flights between Phu Quoc and major Indian destinations within 2026.
The Sun Group–GMR partnership was one of 27 cooperation agreements exchanged between Vietnamese and Indian businesses at the Mumbai forum. Other aviation-related agreements at the event included Vietjet Air’s separate cooperation frameworks with GMR Airports Limited covering airport operations and logistics, and with India’s Bird Group covering hospitality, ground handling, and digital transformation. Vietnam Airlines also signed an MOU with JPMorgan Chase on aircraft financing and cash flow management.