Seminar discusses Phu Quoc development

Participants to a September 16 seminar emphasised the importance of transforming Phu Quoc island district in the southern province of Kien Giang into a special administrative-economic zone with a high level of development to serve the national industrialisation.
Participants to a September 16 seminar emphasised the importance oftransforming Phu Quoc island district in the southern province ofKien Giang into a special administrative-economic zone with a highlevel of development to serve the national industrialisation.

The event, which took place in the island, aimed to finalise aproject on the specific mechanism for Phu Quoc and turn it into adynamic and self-reliant economy, and a regional and global centre oftourism, technology, finance, trade, and entertainment.

Chairing the seminar, Deputy Prime Minister Vu Van Ninh, head of theSteering Committee for the Southwestern Region, asked the provincialauthorities to acquire opinions devoted at the event to complete theproject.

He noted that the project shouldprioritise the sustainable development of industries and products thatare the island district’s strengths, and make clear the locality’sspecial features on economics, trade, tourism, administrativemanagement, national defence and security.

Tosuccessfully build a special administrative and economic zone, policiesapplied in Phu Quoc need to be more competitive than those in otherlocalities, said participants.

The islandposts an annual economic growth rate of over 24.5 percent, a 5.2-foldincrease from 2004 when the Prime Minister approved its overalldevelopment plan. Its per capita income in 2013 is estimated to reach70.3 million VND (3,500 USD).

Phu Quoc has so far attracted 206 investment projects valued at over 4trillion VND (190.5 million USD). Of the total, 13 projects have alreadybeen put into operation.-VNA

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