Phu Quoc likely has special status for development
The Ministry of Construction in the meeting with provincial authorities of Kien Giang okayed the revision of the district master plan towards establishing Phu Quoc as a special economic-administration zone, and will submit the plan to the Prime Minister in November.
The revised master plan highlights the development of facilities for the island district until 2030, with emphasis laid on the construction of tourism facilities, said a Phu Quoc official. “Some projects on the island would be adjusted if the Prime Minister approves the plan,” said Nguyen Van Hon, deputy head of the management unit in charge of investment projects on the island.
He told that “given the new status, the island can develop a casino complex with many tourism services there. The special complex will attract more tourists and promote the development of related services.” He added the casino complex will cover some 100 hectares and include other entertainment facilities.
Under the tentative adjusted master plan, Phu Quoc as a special economic-administration zone will limit its population to around 540,000 people, nearly twice compared to an old plan, and is expected to attract three to five million tourists a year by 2020, and some seven million by 2030.
Some years ago, the Prime Minister approved a master plan for the island, which targeted attracting two to three million tourists a year by 2020. The central Government also planned to develop Phu Quoc into a financial and banking center for the region, and an international trading hub. Under prevailing regulations, the casino business is conditional, meaning licensing is placed under strict supervision.
The revised master plan also indicates that Phu Quoc will have three main towns, with the current Duong Dong Town to be developed into a model city.
Truong Beach will be a complex of high-class entertainment and tourism services, and all tourism projects will be located on an area of 3,800 hectares on the island.
Changes to the island’s master plan have been made by the Ministry of Construction with the assistance of foreign consultants following a request last year by the Prime Minister. Phu Quoc Island is nearly one hour flying time from the travel hub of HCMC. So far, the province has given investment certificates to 33 projects with total pledged investment of around VND30.8 trillion, or some USD1.75 billion, plus more than 170 other projects having gained approval in principle.
