Measures launched to attract more investment to Phu Quoc Island

VGP – Phu Quoc Island in the southern province of Kien Giang has launched a number of synchronous programs and solutions to attract foreign and domestic investors in 2015.

January 12, 2015 3:58 PM GMT+7

Illustration photo

Accordingly, the local authorities will fully utilize special mechanisms and policies offered by the Government, increase investment promotion programs, and tackle administrative and infrastructural obstacles.

In addition, the district will accelerate the streamlining of administrative procedures to create an open investment environment.

In 2014, the provincial People’s Committee granted 53 investment certificates in the island. Remarkably, four Foreign Direct Investment (FDI) projects with a total registered capital of nearly VND65,000 billion have been launched on a total area of 1,400 ha.

Currently, as many as 136 projects have been licensed with a total capital of VND140,215 billion.

In 2014, the island’s GDP growth increased nearly 27% from the previous year.

In the year, as many as 586,000 tourists visited the island, up 40%, of whom 124,500 were foreigners, up 32. The island earned VND2,228 billion from tourism, increasing by 84%.

By Thuy Dung