The Phu Quoc administration seeks to make the island a special economic zone, a local official said.

Mai Van Huynh, Chairman of the Phu Quoc District People’s Committee, said to achieve such target the district would continue to review and solicit investment in more projects, tweak investment incentives and preferential policies and streamline administrative processes to attract investors.

Tourism, commerce, healthcare, education, and high-tech agriculture would be the main pillars of socio-economic development, he said.

The district has improved land administration, planning, mining, and environmental protection, and cracked down on violations, Huynh added.

According to the management of the Phu Quoc Economic Zone, the district has 279 potential projects, 215 of them in tourism, 23 in housing, eight each in agriculture, public services and forestry.

The total investment in the projects is worth VND361 trillion (US$15.4 billion)

Of them, 241 involving total investment of VND14.75 trillion ($633.37 million) have received approval with 36 already getting under way.

Phu Quoc is attracting more and more visitors and investors.

Since 2015 it has received 4.7 million visitors, 20.5 per cent of them foreigners. The average revenues from tourism have been increasing by 42.5 per cent.

Pham Van Nghiep, deputy chairman of the People’s Committee, said eight airlines fly to Phu Quoc International Airport and operate 12 international routes to Russia, China, Korea, and Thailand and also fly to Ha Noi, Hai Phong, HCM City and Can Tho.

This would enable Phu Quoc to promote international co-operation and attract more foreign investors, he said.

The island aims to make tourism a key economic sector by continuing to develop eco-tourism, community tourism and others, he said. — VNS