More and more foreign groups have been making inroads into Phu Quoc, the largest island of Vietnam, for the past few years with mammoth tourism projects worth hundreds of millions of US dollars, said Bui Ngoc Suong, the provincial People’s Committee.
The wave of foreign investors has come to Phu Quoc since the Vietnam Government issued a decision to give higher priority to investment on this beautiful island, Suong said.
The Rockingham Corporation of the UK is waiting for a license from the Ministry of Planning and Investment to invest in a 1,000-ha marine tourist site capitalized at US$1 billion.
Meanwhile, Dong Duong joint-stock has joined hands with Canada’s Automind Capital Group Inc to build a tourism port, houses, ecological conservation area and rare aquatic breeding zone on 85ha in An Thoi town with a total capital of US$120 million.
Victoria Group is also to pour US$40 million into a tourism village of 22ha in Cua Van commune.
Recently the province has agreed to a joint-venture among Delta General Construction Inc, Condo Development LLC, and Westminster Tower Medical Center and T.T.C Co. Ltd to build a five-star complex of eco-tourism resorts and hotels. Once getting approval from the Government, the complex will be developed into a casino.
At present, the Duong To International Airport project with a planned capital of VND2.5 trillion (US$157 million) has drawn great attention from big firms worldwide.
In an effort to facilitate the investment environment, the province’s authorities signed a memorandum of understanding with enterprises in Ho Chi Minh City on potential projects with an expected capital of VND10 trillion (over US$600 million).
The province has also sent delegations to Taiwan and Japan for boosting trade and investment ties.
Kien Giang, 350 km southwest from Ho Chi Minh City, is now the only locality in the Mekong Delta region that has an airport, the Rach Gia. Its island of Phu Quoc is set to become the tourism hub in the region with a series of huge tourism and hotel projects scheduled by 2010.
Pioneer
Vietnamese
