The airport will take on a million passengers a year by 2030, from a current 200,000 passengers and three million by 2050.
Currently, the airport only has a runway for ATR72 aircraft or its equivalent, maintaining only one flight route to Ho Chi Minh City, with four flights per week.
Under the plan, it will be used for both civil and military aircraft.
The airport will be upgraded from 3C to 4C (standards of the International Civil Aviation Organisation) so it can handle 1,000 tonnes of cargo per year by 2030 and 3,000 tonnes by 2050.
It will be capable of handling the Airbus A321, A320 and the equivalent by 2030, and expanded to cover 184,44ha of land by 2030 and 244.43ha by 2050.
The Airports Corporation of Vietnam estimates that more than 2.25 trillion VND (88.4 million USD) is needed to upgrade Ca Mau Airport by 2030, excluding the expenses to clear the site.