Vietnam’s Sovico Group Tapped to Manage Airport in Kazakhstan’s Kyzylorda Region

Vietnam's Sovico Group, owner of Kazakh airline Qazaq Air, soon to be rebranded as VietJet Kazakhstan, has been offered the opportunity to manage one of the airports in Kazakhstan’s Kyzylorda region. This week, Kazakhstan’s Deputy Prime Minister and Minister of National Economy, Serik Zhumangarin, confirmed Sovico’s interest in acquiring or taking over the management of an airport in the country, though he did not specify which facility was under consideration. On Thursday, during a session of the Senate (the upper house of Kazakhstan’s parliament), Deputy Foreign Minister Alibek Bakaev clarified that the proposal concerned an airport in the Kyzylorda region. “The point is that the Vietnamese side would manage the airport temporarily to improve its operations. This is not about a buyout, we do not sell strategic assets. We are attracting advanced technologies and companies to enhance the functioning and services of our airports from both technological and administrative perspectives,” Bakaev told reporters. The Kyzylorda region, located in southern Kazakhstan, hosts five airports: in the regional capital Kyzylorda, the district center of Aralsk, the village of Zhosaly, and two airports serving the Baikonur Cosmodrome, Krayniy and Yubileiny. The largest among them is Korkyt Ata International Airport, located in Kyzylorda city. Its 2,700-meter-long, 45-meter-wide asphalt runway, which can accommodate all categories of helicopters and first-class aircraft with a maximum take-off weight of 75 tons or more, includes the Tu-204, Boeing 757 and 747, and Airbus A320, as well as lighter aircraft. In November 2023, a new passenger terminal was inaugurated at Korkyt Ata, boosting the airport’s annual capacity from 300,000 to 2 million passengers. Korkyt Ata International Airport is currently managed by Airport Management Group and owned by the regional akimat (governor’s office). As previously reported by The Times of Central Asia, last autumn, Sovico Group announced plans to modernize and develop airport infrastructure in both the Kyzylorda and Turkestan regions of Kazakhstan.

Vietnamese Investment Group Eyes Airport Purchase in Kazakhstan

Vietnam’s SOVICO Group, the new owner of Kazakh airline Qazaq Air, is considering acquiring or managing an airport in Kazakhstan, according to Deputy Prime Minister and Minister of National Economy Serik Zhumangarin. SOVICO Group, one of Vietnam’s leading investment conglomerates, operates across sectors including finance, aviation, energy, and digital transformation. The group also owns VietJet Air, an international low-cost airline with a fleet of 85 aircraft. In 2024, SOVICO acquired Qazaq Air, a domestic carrier the Kazakh government had been trying to sell since 2023 for KZT 10.2 billion (approx. $19.7 million). However, the final sale price was significantly lower: KZT 2 billion (approx. $3.8 million), according to Transport Minister Marat Karabaev. Qazaq Air currently serves 14 domestic routes, four of which are state-subsidized and four international destinations. New Brand, Broader Ambitions During a Kazakhstan-Vietnam business roundtable in Astana on Tuesday, it was announced that Qazaq Air will be rebranded as VietJet Kazakhstan. “We highly appreciate the intention of SOVICO Group and VietJet Air to manage Qazaq Air under the new brand,” said Nurlan Zhakupov, Chairman of the Board of Samruk-Kazyna JSC. “Expanding the route network will enhance regional connectivity and foster new economic growth.” Zhumangarin mentioned that SOVICO Group is actively exploring options to either acquire or manage a Kazakh airport. “The company is large, rapidly expanding, and maintains numerous international partnerships. An airline needs a base airport, and they are considering establishing one here,” he said. Strategic Infrastructure Interest SOVICO has also signaled its interest in modernizing regional airport infrastructure, specifically in the Turkestan and Kyzylorda regions, a move seen as part of its broader strategy to expand operations in Central Asia. In 2023, bilateral trade between Kazakhstan and Vietnam reached nearly $1 billion, although it dipped slightly to $879 million by the end of 2024.