The Phu Quoc island district has become a magnet for tourism propertydevelopers in recent years, owing to its friendly policies aimed attransforming the island into a tourist paradise.
Currently, manygiants have entered the tourist property market and are stepping uptheir projects' progress to make them operational as early as possible,with the projections that the number of tourists coming to Phu Quocisland in the southern province of Kien Giang would increase sharply.
NguyenThanh Tung, deputy head of the Phu Quoc Island Management Board forInvestment and Development, said the island held great potential forinvestors and offered certain advantages that could help it develop intoa high-end tourism paradise.
The facts that forest coveraccounts for 62 percent of the island's area, and it has a 150-kilometrelong coastline and beautiful beaches, only add to its appeal.
Thenumber of tourists coming to Phu Quoc island have increased by 12percent every year during the past seven years and reached more than600,000 last year, while the current supply of rooms was falling shortof the demand.
Tung said there was also a growing wave ofinvestments headed into the island, given that the island'sinfrastructure system includes an international airport, a seaport androads, which were being completed and upgraded.
He said that manyinvestors had shown an interest in investing in the real-estate marketof Phu Quoc island, especially with investment incentives from the localauthorities.
According to the Management Board for Investmentand Development, there were currently more than 200 investment projectsin progress on the island, which were mainly resorts, hotels and tourismproperty projects. Of these, 143 projects had been granted investmentlicences, with a total capital of 144.19 trillion VND (6.8 billion USD),and 21 projects were already in operation, with 13 being underconstruction.
Those included projects by giant property developers, such as Vingroup, the BIM Group, the Sun Group, and the CEO Group.
ThePhu Quoc Island was also recognised as a second-tier urban destinationin 2014 and since then land prices on the district island had surgedsharply.
In a master development plan approved by the PrimeMinister, the island would act as a special economic zone, a centre forhigh-quality eco-tourism, trade and luxury services and a high-techarea.
Still, it would be important for the district island to complete its infrastructure.-VNA
Currently, manygiants have entered the tourist property market and are stepping uptheir projects' progress to make them operational as early as possible,with the projections that the number of tourists coming to Phu Quocisland in the southern province of Kien Giang would increase sharply.
NguyenThanh Tung, deputy head of the Phu Quoc Island Management Board forInvestment and Development, said the island held great potential forinvestors and offered certain advantages that could help it develop intoa high-end tourism paradise.
The facts that forest coveraccounts for 62 percent of the island's area, and it has a 150-kilometrelong coastline and beautiful beaches, only add to its appeal.
Thenumber of tourists coming to Phu Quoc island have increased by 12percent every year during the past seven years and reached more than600,000 last year, while the current supply of rooms was falling shortof the demand.
Tung said there was also a growing wave ofinvestments headed into the island, given that the island'sinfrastructure system includes an international airport, a seaport androads, which were being completed and upgraded.
He said that manyinvestors had shown an interest in investing in the real-estate marketof Phu Quoc island, especially with investment incentives from the localauthorities.
According to the Management Board for Investmentand Development, there were currently more than 200 investment projectsin progress on the island, which were mainly resorts, hotels and tourismproperty projects. Of these, 143 projects had been granted investmentlicences, with a total capital of 144.19 trillion VND (6.8 billion USD),and 21 projects were already in operation, with 13 being underconstruction.
Those included projects by giant property developers, such as Vingroup, the BIM Group, the Sun Group, and the CEO Group.
ThePhu Quoc Island was also recognised as a second-tier urban destinationin 2014 and since then land prices on the district island had surgedsharply.
In a master development plan approved by the PrimeMinister, the island would act as a special economic zone, a centre forhigh-quality eco-tourism, trade and luxury services and a high-techarea.
Still, it would be important for the district island to complete its infrastructure.-VNA
