Vice Secretary of the Kien Giang provincial Party Committee Nguyen Thanh Nghi addresses the conference in Singapore. — Photo VNA

SINGAPORE (Biz Hub) — Minister of Planning and Investment Bui Quang Vinh has called on Singapore businesspeople to invest in Phu Quoc, an island planned to be a hi-end tourism and sci-tech centre in Vietnam and the larger Southeast Asian region.

At a forum promoting investment in Vietnam in Singapore on April 28, Vinh revealed that the Prime Ministers of Vietnam and Singapore have agreed to do everything to facilitate operation of Singaporean investors in Phu Quoc, which is part of southern Kien Giang province.

He expressed his wish that Singapore, with its expertise in resort planning and development, will help with the planning, preferential policies and anticipated procedural bottlenecks.

Joining the forum, Vice Secretary of the Kien Giang provincial Party Committee Nguyen Thanh Nghi unveiled that the Government is working on the development of the Phu Quoc island special economic zone, where the best-known preferences will be applied for investors for the first time.

Singaporean firms could engage in eco-tourism and scientific urban areas and hi-tech industrial zones covering about 4,000 hectares in Phu Quoc, he suggested.

At working sessions with some Singaporean companies later the same day, Kien Giang officials made it clear that preferential treatments relating to land, corporate tax, income tax for high-income earners and import tariff will be in place for investors.

According to Chia Tech Keng, a representative from Arcanum Associates LLT, a provider of investment and business consultancy services, Phu Quoc boasts great opportunities. "I would recommend people to come to Phu Quoc very quickly," he said.

Sharing views with Chia, Tan Soon Kim, Assistant Chief CEO of IE Singapore, said his agency will advise Singaporean businesses to take a look into Kien Giang.

The Kien Giang delegation is scheduled to deliver a speech introducing the province's potentials to Singaporean investors at the 10th Vietnam-Singapore Ministerial Meeting on Economic Connectivity to be held in the city-state on April 29.— VNA/VNS