The event is scheduled to take place from April 26 to May 1 in the skies over Phan Thiet City and Hoa Thang commune at the altitude of 150m to 500m.
The festival is expected to attract the participation of 20-30 balloons of level 7, controlled by about 50 pilots from countries such as Indonesia, Japan, Germany, France and Belgium.
During the daytime, balloons will be flown within the observation range of viewers. At night, the flying team will perform lantern effects.
All the costs for the festival will be covered by Chien Thang Company based in Ho Chi Minh City.
This is the first event of its kind to be held in Vietnam.
Once successful, the festival will be held annually in Phan Thiet City, Binh Thuan province.