Vietnam hopes new resort complex on southern island will be a major fillip for tourism industry
With a multi-billion dollar casino project already in motion, hopes are now high in the tourism industry that Phu Quoc will turn into a resort island that can compete against regional destinations.
Foreign investors were last week given the green light to develop the project on the southern island. The government this time decided to be selective: it set the minimum investment requirement at US$4 billion.
At least 10 investors have shown their interest in the project, despite the large amount of money required. Foreign investors will have to go through a bidding process later this year and must prove their financial capacity. The duration for the casino operating license is expected to be 30 years.
A source close to the matter told Thanh Nien that a Singaporean investor has already gained front-runner status. If this investor wins the bid, it’s likely that the project will be similar to the casino, resort and entertainment complex in Singapore, the source said, without giving the investor’s name.
The decision to kick-start the casino project came less than three months after the government announced big plans for Phu Quoc.
A site of 135 hectares in the island’s northeast has been put aside for a casino and resort complex. The 30,000-square-meter casino will have 2,000 slot machines and 200 to 400 game tables. The complex will have five or six five-star hotels with a total of 3,000 rooms.
The government plans to make Phu Quoc a special administrative and economic region by 2020, separating it from Kien Giang Province to which it now belongs. The goal is to turn the island into a top trade and tourism center of the region, with 10 million arrivals by 2020.
Yen vietyen sao to yen Cong dung yen sao nuoc yen mua yen sao
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