Danish infrastructure investment firm A.P. Moller Capital and Vietnam’s VinaCapital have signed an agreement to explore new investments in transport infrastructure and air cargo logistics, including possible expansion to two major Vietnamese airports.
The memorandum of understanding was signed in Copenhagen during Vietnamese President Tô Lâm’s state visit to Denmark on 19–21 October 2026. It was among the cooperation agreements presented at the Vietnam–Denmark Business Forum on 20 October, attended by President Tô Lâm and King Frederik X.
Under the agreement, the companies will explore investment opportunities in transport infrastructure, logistics and air cargo operations.
One possibility is to expand the operations of ALS Cargo Terminal (ALSC) to Gia Binh International Airport near Hanoi and Long Thanh International Airport near Ho Chi Minh City. Both airports are being developed as important new transport and logistics hubs.
The agreement builds on an existing partnership between A.P. Moller Capital and VinaCapital. In September 2025, the two companies invested in ALS Cargo Terminal at Hanoi’s Noi Bai International Airport.
ALSC currently has the capacity to handle up to 250,000 tonnes of air cargo annually.
The new cooperation will also include exchanges of expertise in operations, technology, corporate governance and sustainability.
Jens Thomassen, Partner at A.P. Moller Capital, said the company sees opportunities arising from growing trade between Vietnam and international markets. A.P. Moller Capital intends to use its global transport experience and network of local partners to identify further investments in Vietnam and the wider region.
A.P. Moller Capital is part of Denmark’s A.P. Moller Group and specialises in infrastructure investments, including transport and logistics.
No investment amount or timetable for the proposed airport expansions has been announced.
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