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Phu Quoc port project gets go ahead

Released at: 12:36, 21/11/2014

Phu Quoc port project gets go ahead

PM approves proposal to construct international passenger port.

by Thong Dat

Prime Minster Nguyen Tan Dung has given the green light to the construction of an international passenger port on Phu Quoc Island off the Mekong Delta province of Kien Giang, as proposed by the provincial people's committee.

The PM has directed the people's committee to work with the Ministries of Transport, Finance, and Planning and Investment to determine the scale of the project and the capital required from the State budget. The province was also directed to select a developer for the project.

On November 4 the people's committee submitted a document seeking permission from the PM to allow Phu Quoc Tourism Investment and Development, a subsidiary of the property developer Vingroup, to develop the two phase-project under the BOT (build-operate-transfer) model. It also proposed that 50 per cent of the total investment of VND1.254 trillion ($58.83 million) come from the State budget. The first phase alone is to cost 1.089 trillion ($51.8 million).

PM Dung has approved a plan to develop Phu Quoc Island into a special economic-administrative region administered by the central government by 2020. Vietnam is now mobilizing resources to turn the island into a special economic hub and it is now enjoying the highest levels of preferential treatment to have its infrastructure and energy systems developed.

It is estimated that Phu Quoc Island will welcome around 105,000 to 190,000 visitors a year via cruise ships from now to 2020, and the number could reach 350,000-550,000 over the next decade.

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  • Phu Quoc
  • BOT

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