Tuesday, 19 Feb 2019

Phu Quoc Island attracts investments worth US$11.6 billion

Updated at Wednesday, 04 Jul 2018, 16:41
The Hanoitimes - In recent years, Phu Quoc Island has become one of Vietnam’s most attractive destinations for investors.
Phu Quoc island has attracted 279 investment projects with total area of 10,754 hectares, according to Management Board of Phu Quoc Economic Zone (EZ), the Nhip Cau Dau Tu magazine reported. 
Of these, 249 projects have received investment certificates or in-principle approval, with a total area of over 9,000 ha and registered capital of nearly VND270 trillion (US$11.6 billion). The remaining 30 projects are in process of completing legal procedures.
Phu Quoc attracts additional US$11.6 billion in investment capital.
Phu Quoc attracts additional US$11.6 billion in investment capital.
Currently, 36 projects have been put into operation, with total investment capital reaching VND14.75 trillion (US$634 million), while 35 projects worth VND95.731 trillion (US$411 million) are under construction.
According to the Management Board of Phu Quoc EZ, about 60 projects have completed paperworks but construction has not been kicked off. 
A number of Vietnamese real estate giants such as Vingroup, Sungroup, CEO Group and BIM Group have set their foothold on this island with complexes of resorts and hotels.
In 2018, several infrastructure projects will be put into operation such as the Vinpearl tourism complex with a casino, An Thoi-Hon Thom cable car, and Phu Quoc International Passenger Seaport.
As the largest island in Vietnam, Phu Quoc and nearby islands, along with distant Tho Chu islands, are part of the southernmost province of Kien Giang as Phu Quoc district, the district has a total area of 574 square kilometres and a permanent population of approximately 90,000.

Earlier, Tran Phu beach in Nha Trang and Long beach in Phu Quoc have been listed among the most beautiful white sand beaches in the world, according to Us News and World Report.
Long beach (Phu Quoc) was in the 20th place on the list. Phu Quoc island in Vietnam is renowned for its beaches and stunning scenery. Long Beach in particular features strikingly soft white sand and crystal-clear waters. This stretch of sand is also home to numerous resorts, most of which feature huge pools and rooms geared toward families.
In 2017, Phu Quoc island welcomed 1.8 million tourists, a 25.5% increase from the same period last year. The total number of foreign arrivals in Phu Quoc was estimated at 300,000, up 42.7%, according to the Kien Giang Department of Culture, Sports and Tourism.
Tuyet Nhung
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