Phu Quoc island city draws 16.5 billion USD in investment - Illustrative image (Photo: VNA)
Kien Giang (VNA) - Phu Quoc, Vietnam’s first island city, has attracted372 projects to date with capital totalling some 16.5 billion USD.
Tourism, service, and urban areas are the most attractive sectors, according tothe city’s authorities, adding that investments in these fields helped Phu Quocbecome a second-tier city.
Major economic corporations such as Vingroup, Sungroup, BIMgroup, CEOgroup,MIKgroup, and Milltol have made significant contributions to the island’seconomic growth over recent years.
Local trade-service production expanded by an average of over 19 percent each yearduring the last five years, doubling the rate in its home province of KienGiang in the Mekong Delta. State budget collections rose an average of 19percent annually and accounted for more than 40 percent of the province’s totalcollections.
Tourism has become a spearhead economic sector. Dozens of large-scale tourismprojects have been carried out, with an array of high-end resorts serving bothdomestic and international visitors. The Bai Truong tourism complex is beingformed, giving the Phu Quoc urban area a facelift.
According to the Chairman of the island city People’s Committee Huynh QuangHung, investors enjoy the best possible mechanisms and policies from the government.
The city is working with provincial departments and sectors to recommend theGovernment introduce more favourable policies regarding land rentals, land use,and immigration, so as to attract more investors to the island.
During the 2021-2025 period, Phu Quoc city will focus on developingsocio-economic infrastructure, particularly in transport, power, water, wastetreatment, urban areas, shopping malls, schools, and hospitals.
It is inviting investors to expand Bai Vong Port and Dat Do Port, develop fisheriesinfrastructure and facilities in response to climate change, and build modernwaste treatment plants.
The island city also prioritises investments in tourism, hi-tech agriculture,and high-quality healthcare./.
Leaders of Kien Giang hosted visiting Indian Consul General to Ho Chi Minh City Madan Mohan Sethi on December 28, discussing potential for cooperation between the Mekong Delta province and Indian localities.
Despite the serious impact of COVID-19, drought, and saline intrusion, the Mekong Delta province of Kien Giang exerted every effort to overcome the difficulties and post economic growth of over 3 percent in 2020.
The Mekong Delta province of Kien Giang invested more than 645 billion VND (28.2 million USD) in fishing infrastructure in 2020, according to its Department of Agriculture and Rural Development.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Phu Quoc island city draws 16.5 billion USD in investment - Illustrative image (Photo: VNA) 
