Phu Quoc Island attracts tourism developers

Source: Pano feed


Phu Quoc island

NDO/VNA – Phu Quoc Island has become a magnet for tourism property developers in recent years, owing to its friendly policies aimed at transforming the island into a tourist paradise.

Currently, many renowned developers have entered the tourist property market and are stepping up progress of projects to make them operational as early as possible, due to projections that the number of tourists to Phu Quoc Island in the southern province of Kien Giang will soon increase dramatically.

Nguyen Thanh Tung, deputy head of the Phu Quoc Island Management Board for Investment and Development, said the island has great potential for investors and offers certain advantages that could help it develop into a high-end tourism hotspot.

Phu Quoc Island boasts serene natural environments with forest covering 62% of the island’s area, and a 150-kilometre long coastline with beautiful beaches, only adding to its appeal.

The number of tourists coming to Phu Quoc Island have increased by 12% every year over the past seven years and reached more than 600,000 last year. The current supply of rooms has tended to fall short of the demand.

Tung said there was also a growing wave of investments headed into the island, given that the island’s infrastructure includes an international airport, a seaport and roads, which are being completed and upgraded.

He said that many investors have shown interest in investing in the real-estate market of Phu Quoc Island, especially with investment incentives offered by the local authorities.

According to the Management Board for Investment and Development, there are currently more than 200 investment projects in progress on the island, which are mainly resorts, hotels and tourism property projects. Of these, 143 projects have been granted investment licences, with a total capital of VND144.19 trillion (US$6.8 billion), and 21 projects were already in operation, with 13 being under construction.

Those included projects by giant property developers, such as Vingroup, the BIM Group, the Sun Group, and the CEO Group.

Phu Quoc Island was also recognised as a second-tier urban destination in 2014 and since then land prices on the district island have increased sharply.

In a master development plan approved by the Prime Minister, the island would act as a special economic zone, a centre for high-quality eco-tourism, trade and luxury services and a high-tech area.

However, firstly it is important for the district island to complete its infrastructure.

Đăng ký: VietNam News