Island getaway has 136 projects in operation with total registered capital of around $6.76 billion.
As at July, Phu Quoc Island, off the coast of the Mekong Delta’s Kien Giang province, had attracted 196 projects on 5,110 ha, of which 136 projects are now in operation, with capital totaling more than VND144 trillion ($6.76 billion). Projects are primarily in the tourism sector, according to Deputy Chairman of the Phu Quoc People’s Committee, Mr. Huynh Quang Hung.
Many investors, such as Vingroup and Sun Group, have built resorts, restaurants, hotels and entertainment parks of five or even six-star standard.
Phu Quoc Vinpearl, invested by Vingroup in Bai Dai, Ganh Dau commune on an area of 300 ha and with total investment of over $1 billion, has completed its fist phase and the second phase is now underway. It is the largest tourism project on the island.
Vingroup has also started construction of a zoo on an area of 500 ha in Ganh Dau and Cua Can communes. Once completed it will be the second largest zoo in the world, with animals and plants from all continents around the world. The zoo will be a special attraction and create a competitive advantage for Phu Quoc Island over other regional tourist destinations such as Phuket in Thailand and Bali in Indonesia.
Sun Group, meanwhile, is building a resort in the southern area of the island that is expected to open on April 30, 2016, with 1,000 luxury guest rooms of five or six-star standard.
The Kien Giang Provincial People’s Committee has recently approved Sun Group’s plans to develop a resort and amusement complex on nearby Hon Thom Island and a cable car line connecting it with Phu Quoc Island, with total investment of VND10 trillion ($458.4 million).
Airports Corporation of Vietnam (ACV) has sent a proposal to the Ministry of Transport (MoT) on investing VND1 trillion ($45.8 million) in increasing the capacity of the passenger terminal at Phu Quoc International Airport on Phu Quoc Island, off Vietnam’s southern coast.
The terminal’s area is to increase from the current 24,325 sq m to 36,167 sq m. The expanded terminal will have four gangways that can cater to A321, A330 and B777 aircraft, 12 boarding gates, including four for international flights and eight for domestic flights, and four baggage carousels, among other new facilities.
If approval from MoT is forthcoming ACV will kick off construction in March next year with completion expected in April 2017.
According to the ACV, Phu Quoc Island’s tourism industry has recorded strong growth over recent years, with most tourists arriving by air. Passenger numbers at the airport have increased between 28 and 46 per cent annually.
The expansion will increase capacity to four millions visitors, much higher than the current capacity of 2.65 million.
Phu Quoc International Airport has an area of 900 ha and was built by ACV and opened in 2012. It has the highest volume of flights and passengers in the southern region of Vietnam, just after Tan Son Nhat International Airport in Ho Chi Minh City.