Phu Quoc works to attract investment

Wednesday, Jun 19, 2019 17:43

A view of Phu Quoc from Hon Thom cable car. — Photo

In the first half of 2019, the People’s Committee of Kien Giang Province approved seven investment projects with total registered capital of nearly VND12.65 trillion (US$542.64 million).

Nguyen Thong Nhat, head of the management board of Phu Quoc Economic Zone, said the locality has 304 valid investment projects spanning 10,879ha with total registered investment capital of nearly VND308.45 trillion ($13.22 billion). It also has 22 foreign direct investment (FDI) projects with capital worth VND792.76 billion ($34 million).

Of the projects, 264 have completed procedures and been granted investment certificates, while 40 others are completing procedures.

Forty-seven of the projects have been completed and put into operation with a total area of 1,202ha and a total investment of more than VND13.5 trillion ($578.49 million), creating jobs for more than 15,000 employees. Seventy projects are under construction.

The tourism sector attracted some of the largest investors including Vingroup with registered investment capital of VND50 trillion, Sun Group with nearly VND27 trillion, BIM Group with nearly VND5 trillion and CEO Group with more than VND4.5 trillion.

The locality is continuing to review plans for approved projects, especially those that are not yet constructed, with the goal of strengthening checks and controlling the investment process.

Phu Quoc District is co-operating with provincial authorities to calculate land prices and rent, make compensation plans and deal with land disputes and waste disposal. — VNS

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