Authorities of Phu Quoc island district, the southern province of KienGiang, plan to employ a wide range of measures to invite more domesticand foreign investors into the locality this year.
Located on theVietnam-Cambodia-Thailand marine economic corridor, Phu Quoc districtcovers more than 593sq.km with a population of over 100,000. Itcomprises 27 islands with Phu Quoc being the largest and dubbed thePearl Island.
Local administration is making thebest use of special mechanisms and policies given by the Governmentalong with stepping up investment promotion programmes and tacklingadministrative and infrastructural difficulties.
The district is overhauling detailed development plans for functionalareas and putting into use critical infrastructural facilities. At thesame time, resident relocation and site clearance will be accelerated toready the ground for licensed projects.
In 2014, the Kien Giangprovincial People’s Committee licensed 53 projects in Phu Quoc district,including four FDI ones, with a total capital of nearly 65 trillion VND(3.09 billion USD). The district is currently home to 136 projectsworth 140.21 trillion VND (6.67 billion USD) that cover more than 5,000hectares, according to the Investment and Development Authority of PhuQuoc island.
Key facilities have been operational and provedeffective such as Phu Quoc International Airport, An Thoi InternationalSeaport, Bai Vong tourism port, and the 110kV undersea power cablelinking mainland Ha Tien town and the island.
Meanwhile,large-scale tourism projects, including luxury hotels, are well underwayin the tourist areas of Bai Truong, Bai Dai, Bai Khem, and Bai Sao.Local hotels have been upgraded to cater for over 7,500 visitors a day.Particularly, 300-ha Vinpearl Phu Quoc resort that houses a five-starhotel with 750 rooms, a 27-hole golf course, and a modern entertainmentcentre was inaugurated in 2014.
Vice Chairman of the Phu Quocdistrict People’s Committee Huynh Quang Hung attributed such projects tolocal development, elaborating that last year, local GDP grew by 27percent from 2013 while per capita income topped 4,000 USD.
Thedistrict welcomed 586,000 tourist arrivals in 2014, including over124,500 foreigners, representing respective increases of 40 and 32percent from a year earlier. Therefore, it also saw an 84 percent risein tourism earnings to more than 2.2 trillion VND (104.7 million USD),he added.
However, the Kien Giang People’s Committee also revokedlicenses of 23 projects in Phu Quoc, including five FDI ones, due totheir sluggish implementation, unconformity with the adjusted planning,and investors’ poor financial capacity, the official noted.
KienGiang is working on procedures to recognise Phu Quoc Island as aprovincially-run city in the time to come, which is a step in turningthe island district into a special economic-administrative zone by 2020.
In the long term, the islanddistrict is envisioned to become an economic and political hub, acrucial frontier in national defence and security, and a crucial transitpoint for international travellers.-VNA
Located on theVietnam-Cambodia-Thailand marine economic corridor, Phu Quoc districtcovers more than 593sq.km with a population of over 100,000. Itcomprises 27 islands with Phu Quoc being the largest and dubbed thePearl Island.
Local administration is making thebest use of special mechanisms and policies given by the Governmentalong with stepping up investment promotion programmes and tacklingadministrative and infrastructural difficulties.
The district is overhauling detailed development plans for functionalareas and putting into use critical infrastructural facilities. At thesame time, resident relocation and site clearance will be accelerated toready the ground for licensed projects.
In 2014, the Kien Giangprovincial People’s Committee licensed 53 projects in Phu Quoc district,including four FDI ones, with a total capital of nearly 65 trillion VND(3.09 billion USD). The district is currently home to 136 projectsworth 140.21 trillion VND (6.67 billion USD) that cover more than 5,000hectares, according to the Investment and Development Authority of PhuQuoc island.
Key facilities have been operational and provedeffective such as Phu Quoc International Airport, An Thoi InternationalSeaport, Bai Vong tourism port, and the 110kV undersea power cablelinking mainland Ha Tien town and the island.
Meanwhile,large-scale tourism projects, including luxury hotels, are well underwayin the tourist areas of Bai Truong, Bai Dai, Bai Khem, and Bai Sao.Local hotels have been upgraded to cater for over 7,500 visitors a day.Particularly, 300-ha Vinpearl Phu Quoc resort that houses a five-starhotel with 750 rooms, a 27-hole golf course, and a modern entertainmentcentre was inaugurated in 2014.
Vice Chairman of the Phu Quocdistrict People’s Committee Huynh Quang Hung attributed such projects tolocal development, elaborating that last year, local GDP grew by 27percent from 2013 while per capita income topped 4,000 USD.
Thedistrict welcomed 586,000 tourist arrivals in 2014, including over124,500 foreigners, representing respective increases of 40 and 32percent from a year earlier. Therefore, it also saw an 84 percent risein tourism earnings to more than 2.2 trillion VND (104.7 million USD),he added.
However, the Kien Giang People’s Committee also revokedlicenses of 23 projects in Phu Quoc, including five FDI ones, due totheir sluggish implementation, unconformity with the adjusted planning,and investors’ poor financial capacity, the official noted.
KienGiang is working on procedures to recognise Phu Quoc Island as aprovincially-run city in the time to come, which is a step in turningthe island district into a special economic-administrative zone by 2020.
In the long term, the islanddistrict is envisioned to become an economic and political hub, acrucial frontier in national defence and security, and a crucial transitpoint for international travellers.-VNA
