The Government has reviewed a major plan to establish a special economic zone on Phu Quoc Island off mainland Kien Giang Province and assigned the Ministry of Planning and Investment to present it to the Politburo.

Updates about the long-awaited plan were revealed at a review meeting in Can Tho City on August 3 of a working group in charge of devising supporting policies and mechanisms for the development of Phu Quoc Island. Kien Giang presented the plan to the Ministry of Planning and Investment late last year before it was submitted to the Government for review.

Le Van Thi, chairman of Kien Giang and deputy head of the working group, said the Prime Minister had scrutinized the plan and assigned the ministry to present it to the Politburo on behalf of the Government.

Nguyen Phong Quang, head of the working team and deputy head of the Southwest Steering Committee, told the meeting that after the plan was sent to relevant agencies for comment, the group dispatched its staff to Macau to draw on experiences in the development of special economic zones, especially in the fields of finance, services, seaport and casino.

According to Thi, after the Prime Minister issued Decision 80 on December 27, 2013 on a special development mechanism for Phu Quoc, the island was upgraded to a grade-two town. It now has seaport, airport and clean water supply facilities; access to the national power grid; and a north-south road, which are believed to help attract more investors and fuel tourism growth.

A total of 164 projects worth a combined VND168.93 trillion have been approved on Phu Quoc. Twenty three of them with registered capital totaling VND25.81 trillion have been put into operation and 14 others worth VND11.38 trillion are under construction.

However, a lack of incentives and special policies, especially in terms of zoning and personnel, has resulted in some problems with development. For instance, land prices in many places on the island have skyrocketed.

Kien Giang is considering cancelling delayed projects and assigning them to new investors with strong financial capability.

In addition to a zoo home to 500 animals, a cable car system of seven kilometers could be built to connect Phu Quoc Island and Thom Islet, which is envisioned becoming a tourism complex, Thi said.

Asked by the Daily about the negative impact of garbage and wastewater on the island, Thi said the province would invest in garbage treatment and enterprises would be required to build their own wastewater treatment facilities.

The province will ask the Ministry of Natural Resources and Environment to support major wastewater treatment projects like the one costing more than VND200 billion near Truong Beach, Thi noted.

Thi added the Government has agreed on a scheme to upgrade the district island of Phu Quoc into a city and the National Assembly’s nod is being sought for this.

As suggested by the Ministry of Construction, the Prime Minister issued Decision 868/QD-TTg approving the revised master zoning plan for the island until 2030.

Under the zoning plan, there will be around 4,300 hectares for tourism projects, 3,325 hectares for tourism and residential areas, and 1,234 hectares for forests. The island will also have an international passenger seaport in Duong Dong Town, a general port in Dat Do Bay, a square, also in Duong Dong, and a casino in Bai Dai.