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New Investment Flows into Phu Quoc Island - Vietnam Briefing News

Jul. 13 – Thirteen new projects worth an estimated US$157.8 million have been allowed to invest in Phu Quoc Island located in Kien Giang Province in southern Vietnam.

The new project brings the total number of licensed projects on the island to 64 amounting to US$ 2.4 billion, according to Deputy Head of the Investment Management Department of Phu Quoc Island, Nguyen Van Sau on Saturday.

Of the new projects, only eight have been put into operation covering an area of 17.2 hectares while four projects are still under construction and one is still in the process of obtaining clearance for the land.

The government is planning to invest in developing infrastructure facilities in Kien Giang Province to attract more foreign investors.

Phu Quoc Island is the largest island in the country. The island is considered part of Kien Giang Province and is located in the Gulf of Siam facing the Cambodian coast. Major industries in the island include tourism and fish sauce and black pepper production.