Phu Quoc attracts big investments

This year, Phu Quoc welcomed one million international arrivals in the first 6 months, double last year's numbers. This steep increase is thanks to private investments in the island's tourism industry.

This 7.9km cable car is set to be the longest in the world once finished. It's been funded by Sungroup, in addition to the company's 6-star resort.

Dang Minh Truong, Deputy General Director, Sungroup Corporation said: "We committed to investing nearly $890 million in the island. In the future, it will become a hot destination for investment, thanks to preferential policies and the potential increase in arrivals".

CEO Group has been eyeing the island for the last 20 years, and has decided it's high time to invest nearly 450 million USD.

Nguyen The Lam, Deputy Chairman, CEO Group said: "There are few islands as beautiful and untouched as Phu Quoc in Vietnam and across the globe. I've seen many enterprises become successful with their investments here".

Phu Quoc has welcomed a wave of investment, with 263 investors injecting a total of 8 billion USD.

Huynh Quang Hung, Deputy Chairman, Phu Quoc District People’s Committee, Kien Giang Province said: "There are lots of preferential policies for the district, compared to other localities. Investors see potential and really focus their resources on the island".

Private investment has given Phu Quoc a new look. It is expected that Phu Quoc will have 10,000 hotel rooms by 2020, the biggest number in Vietnam, and attract nearly 2.4 million international arrivals each year.