Phu Quoc Island, the Asian Pearl, in Kien Giang Province is now appealing to a great number of local and foreign investors since the publicizing of Decision 178 by the PM which agreed to promote investment and development of the island town from now until 2020.
|A resort on Phu Quoc Island. (Photo:KK)|
The provincial authorities have approved of 46 new projects covering a total area of more than 1,855 hectares.
Among them, they are carrying out 12 projects at a cost of around VND750 billion alone, the remaining projects have a total capital of more than VND15,000 billion; all will begin shortly.
There are over 100 further local and foreign investors registering to invest in Phu Quoc Island awaiting approval.
Meanwhile, the land for tourism development is almost fully allocated. Most of the projects aim to improve infrastructure; especially the port, airport, and tourist areas of Phu Quoc.
Following the provincial leaders’ regulation, each project has to attain the capital of US$1-1.4 million. The planning committee of the province will outline construction and architecture criteria to avoid destroying natural scenery.
The government and local authorities have also launched open policies and incentives aimed at luring more investors to Phu Quoc; including ending the need for foreign investors to obtain visas if they plan to stay less than 15 days and solving administrative procedures quickly to create advantages for investors and enterprises, Mr. Bui Ngoc Suong, chairman of the People’s Committee of Kien Giang province, said.