Phu Quoc island district of southern Kien Giang province met all the criteria to be upgraded into a city, said Lam Minh Thanh, chairman of the district's People's Committee.
Since the Prime Minister approved an overall development scheme for Phu Quoc in 2004, the area has seen rapid development, with a new international airport and seaports and an average annual economic growth of 22 percent – nearly a 500 percent increase from a decade ago.
GDP per capita in 2012 rose to 50 million VND (2,480 USD), another enormous increase over 2004, said Le Van Thi, chairman of the Kien Giang Provincial People's Committee.
More tourists also headed to Phu Quoc, with the number of visitors increasing by about 13 percent per year. Consequently, the fields of trade and services, construction and transport (sea, air and road) all saw hasty development.
Local authorities suggest the Government support the development of infrastructure in order to attract investors, Thanh said.
An 8.1 trillion VND (389 million USD) Government bond will be invested in the main North-South routes around the island, Nguyen Trung Truc Bridge and An Thoi Port.
Of the sum, nearly 1.6 trillion VND (75.7 million USD) was distributed in 2012, while 6.5 trillion VND (313 million USD) will be allocated during the 2013-15 period.
According to a recent decision by the Prime Minister, the Government will also invest in roads connecting the main routes with the route around the island as well as residential areas.
The project will require 5 trillion VND (240 million USD) before 2015, which the province seeks to obtain half from the State budget.
Local authorities have also proposed several strategies for attracting investment into new projects in the island district.
Under the master plan for development until 2030 proposed by the Ministry of Construction, the 567 sq.km island will become a center for not only tourism but also conservation of the area's rich biodiversity.-VNA
Since the Prime Minister approved an overall development scheme for Phu Quoc in 2004, the area has seen rapid development, with a new international airport and seaports and an average annual economic growth of 22 percent – nearly a 500 percent increase from a decade ago.
GDP per capita in 2012 rose to 50 million VND (2,480 USD), another enormous increase over 2004, said Le Van Thi, chairman of the Kien Giang Provincial People's Committee.
More tourists also headed to Phu Quoc, with the number of visitors increasing by about 13 percent per year. Consequently, the fields of trade and services, construction and transport (sea, air and road) all saw hasty development.
Local authorities suggest the Government support the development of infrastructure in order to attract investors, Thanh said.
An 8.1 trillion VND (389 million USD) Government bond will be invested in the main North-South routes around the island, Nguyen Trung Truc Bridge and An Thoi Port.
Of the sum, nearly 1.6 trillion VND (75.7 million USD) was distributed in 2012, while 6.5 trillion VND (313 million USD) will be allocated during the 2013-15 period.
According to a recent decision by the Prime Minister, the Government will also invest in roads connecting the main routes with the route around the island as well as residential areas.
The project will require 5 trillion VND (240 million USD) before 2015, which the province seeks to obtain half from the State budget.
Local authorities have also proposed several strategies for attracting investment into new projects in the island district.
Under the master plan for development until 2030 proposed by the Ministry of Construction, the 567 sq.km island will become a center for not only tourism but also conservation of the area's rich biodiversity.-VNA
