Vingroup currently ranks first among investors with the total capital of VND9 trillion ($403 million). Its projects include the Vinpearl Phu Quoc, Vinpearl Villas Phu Quoc, its Safari, and a golf course. Sun Group ranks a close second with VND8.6 trillion ($385.6 million) invested in the JW Marriott resort, the Ritz-Carlton Resort & Spa, the Premier Village Phu Quoc Resort, The Sebel Phu Quoc, the world’s longest cable car ride, and the Hon Thom sea entertainment complex. They’re followed by Milton with VND5 trillion ($224.2 million), BIM Group with VND1.27 trillion ($57 million), and CEO Group with VND1.26 trillion ($56.5 million).
Highlights among the projects are Vingroup’s 500ha Safari with the investment capital of VND3 trillion ($134.5 million), Sun Group’s cable car ride and the Thom sea entertainment complex with the first phase capital reaching VND5 trillion ($224.2 million). Boasting such a range of attractions, the island will have plenty to offer tourists.
The Ministry of Culture, Sports and Tourism picked Kien Giang as the focus of the 2016 national year of tourism. Phu Quoc and Kien Giang have seen tremendous growth in the tourism sector recently and are bound to become a bright spot in the country’s tourism picture.
Data from the Vietnam National Administration of Tourism showed that in 2014 the number of tourists to the island was 600,000, up 50 per cent on year. However, in the first nine months of this year the number fell to just 1.2 million.
By the end of this year the five biggest investors in Phu Quoc will add 700 five-star hotel rooms to the island’s hospitality sector, and this number looks likely to quadruple in 2016. In 2020 the number is expected to reach 10,000 and Phu Quoc is predicted to possess the greatest number of high-end hotel rooms, capable of accommodating 2.1-2.4 million tourists each year. Of those, the projects of Sun Group, with the management of Accor Hotels, are going to turn Phu Quoc into one of the most attractive high-end tourism destinations of the world.
When Phu Quoc was connected to the national grid by undersea cable in 2014 (at the total cost of VND2.4 trillion ($107.6 million)), it was a significant motivating factor in the island’s new phase of development. At the ceremony to mark this event, Prime Minister Nguyen Tan Dung said, “With the roads, the airport, the domestic sea port and the international sea port whose construction has just started, and the national grid, Phu Quoc now has the infrastructure for growth.”