Israeli Firm CodeValue to Lead Security Design for New Vietnam Airport
Translated & summarized from Globes by baba
Israeli technology firm CodeValue will lead the physical security design for Vietnam's new Gia Binh International Airport, a project estimated at $7.5 billion. In other defense news, Rafael's German subsidiary won an 84.5 million euro contract to supply anti-tank missiles to Finland. Separately, the UK aims to increase its defense spending to 3% of GDP by 2030.
The story in 5 lines · by baba
- Israeli firm CodeValue will design security for Vietnam's new Gia Binh International Airport.
- The Vietnam airport project is valued at an estimated $7.5 billion.
- Rafael's subsidiary secured an 84.5 million euro contract to supply missiles to Finland.
- Finland also recently purchased Israel's David's Sling missile defense system.
- The UK plans to increase its defense budget to 3% of GDP by 2030.
Israeli technology firm CodeValue has been selected through a tender to lead the physical security system design for Vietnam's new Gia Binh International Airport. The airport, located in Bac Ninh province near Hanoi, is a strategic client for Israeli defense industries in East Asia. This marks the first time an Israeli company will spearhead the physical security planning for a new international airport in Vietnam.
CodeValue, part of the Tel Aviv Stock Exchange-listed SpeedValue group, specializes in software engineering, AI, cloud solutions, cyber, and digital transformation. For the Vietnam project, the company will act as the primary professional consultant for physical security, responsible for developing the overall security concept, threat and risk assessment, system planning, defining technological and operational requirements, and assisting with vendor selection for security systems.
The new airport is designed to handle commercial aviation, cargo, and international delegations, with a projected capacity of 30 million passengers and 1.6 million tons of cargo annually by 2030, potentially expanding to 50 million passengers by 2050. The total investment for the airport's construction is estimated at $7.5 billion.
In a separate development, Rafael's German subsidiary, Dynamit Nobel, secured a contract worth approximately 84.5 million euros to supply RGW110 anti-tank missiles to Finland, which borders Russia. Finland also recently purchased Rafael's David's Sling missile defense system for around 317 million euros and signed a defense cooperation agreement with Israel through 2034.
Meanwhile, the UK is setting an ambitious defense budget target, aiming to invest 3% of its GDP by 2030, with plans to reach 3.5% by 2035. UK Chancellor of the Exchequer John Healey stated the budget will be fully funded, potentially through cuts in other areas. Healey is promoting initiatives including a task force for defense investment, a £5 billion investment from the UK's sovereign wealth fund in defense over four years, and the establishment of a drone management unit.