Investors in the tourism industry in Phu Quoc islands have a reason to feel encouraged following the newly introduced friendly policies in this sector that worked only for industrial zones back then in 2008. During then these policies were placed on export processing sectors and economic sectors aside from the industrial sector.
These new adjustments are a fruit of the recent new pact approved by the Prime Minister Nguyen Tan Dung back in December 27th in a plan to back the local authority’s agenda to open up the island and upgrade it into a chief trade zone.
As per the new policy, a foreign tourist visiting Phu Quoc islands has his/her first thirty days of visa exemption in the island beginning March 10 and continues onwards. It means that Visitors don’t need Vietnam visa for visiting Phu Quoc Island Vietnam
Going by the new implementations, any foreigner who transports goods at the airports and seaports within Vietnam as well as Phu Quoc will also be waived the visa requirement. This information was also posted on the government website on Monday.
As per the new plans compared to the previous ones, numerous projects are set to kick off including the construction of a North-South highway and a number of other roads as well, renovation and improvement to the current airports and seaports and the same applies to many more projects scheduled to start between 2014 and 2015.
These scheduled projects will receive funding from the local financial budget, that of the state exchequer and from many other government sectors.
Additionally, there will be special policies for investors aiming the waste treatment systems, medical facilities, trade centers, human resource training as well as the duty-free sector at the international airport of Phu Quoc.
According to the development plan signed by the Prime Minister Nguyen Tan Dung dating back to May, there will be a Phu Quoc administrative economic zone set up at the Mekong Delta Province of Kien Giang scheduled to be operational by 2020.
Van Ha Phong who currently is an official in Phu Quoc Town recently confirmed to TuoiTre(Youth) newspaper that the province had already sketched the entire plan by late July.
According to phong, plans by the officials to make Vietnam town the capital city of Kien Giang Province by 2015 were already underway.
The newly drafted plan seeks to extend the Phu Quoc economic region to cover the entire island including its continental shelf to the south-west, which currently falls within the Vietnam boundaries as per the international agreement.
Phu Quoc is set to be an administrative unit at a similar rank with a city in the central government that has ten wards and communes.
There is already an undergoing project that seeks to set up an undersea electric cable all the way from Kien Giang’s Ha Tien town Phu Quoc Island. The project is expected to complete by 2014. Upon completion, the plant will boost the current low supply of power from diesel generators which are the main source of power at the moment.
Phu Quoc Islands is well recognized by UNESCO as a world biosphere reserve off the southeastern coast of Vietnam. It is one of the districts in Kien Giang province and covers about 574 square kilometers, which approximates to 222 square miles hosting about 85,000 permanent residents.