Bright Prospects For Phu Quoc Island’s Development

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Phu Quoc Island
Phu Quoc Island

Phu Quoc Island, dubbed the Pearl Island, in the southern province of Kien Giang expects to see a new boost to its socio-economic development with the planned launch on November 1 of two international air routes connecting the island and Singapore and Cambodia’s Siem Reap.
Accordingly, the national carrier Vietnam Airlines will run two flights a week between Phu Quoc and Singapore by A320 aircraft from November 2 and three flights a week between Phu Quoc and Siem Reap by ATR-72 planes from November 18.

Vietnam Airlines opens Viet Nam - Singapore flight
Vietnam Airlines opens Viet Nam – Singapore flight

Representatives from Korean Air and Hanjin Travel company of the Republic of Korea recently visited Phu Quoc to study possibilities for a direct air route linking the island with the Republic of Korea’s Incheon city.

In addition, Kien Giang province and the Ministry of Transport have approved a project worth more than 1.2 trillion VND to build an international sea port in Duong Dong town, with a capacity of 105,000-190,000 passengers per year by 2020 and 350,000-550,000 passengers a year by 2030.

Vingroup To Develop Phu Quoc International Passenger Seaport
Vingroup To Develop Phu Quoc International Passenger Seaport

In line with the plan to turn Phu Quoc into a special administrative-economic zone and an international tourism hub, various key infrastructure projects are underway on the island. The island is now connected to the national electricity grid. A road system around the island is also about to be completed, thus helping facilitate the travel of locals and tourists.

Road system in Phu Quoc
Road system in Phu Quoc

Vice Chairman of Phu Quoc People’s Committee Huynh Quang Hung said many tourism projects, including several upscale hotels and resorts, are being implemented on schedule, while a number of international groups have also come to survey the business environment on the island.

One of resorts in Phu Quoc
One of resorts in Phu Quoc

According to Phu Quoc Island’s investment and development management board, the island has to date licensed 112 investment projects. They cover 4,850 hectares of land with the total capital of more than 135 trillion VND (6.43 billion USD). As of now, 18 projects worth 6.85 trillion VND have begun operating, contributing importantly to the rapid development of the island.

Over the past eight years, Phu Quoc’s economy has seen a strong development towards tourism and services, with average growth of 26 percent a year and per capita income of 82 million VND a year.