Investors are making a massive foray into the emerging resort island of Phu Quoc off Kien Giang Province, with more forest and agricultural land replaced by big-ticket resort projects.

Investors have already carried out projects worth billions of U.S. dollars on the island. According to a recent report by the island district, investors have pledged more than US$4 billion for a casino project in Bai Dai, over VND10 trillion for a cable car system connecting An Thoi and Hon Thom (Thom Islet), and a resort on the islet, and US$150 million for a zoo in Cua Can.  

To attract those major investors, the Phu Quoc authority has proposed adjusting the island’s zoning plan by increasing land for tourism by over 2,000 hectares, and reducing agricultural land and protective forests by over 2,000 hectares.

In the middle of last June the Government agreed to expand tourism land from 3,861 hectares to 4,003 hectares and land for tourism activities, services and housing from 1,235 hectares to 3,325 hectares while reducing protective forests from 7,038 hectares to 6,666 hectares and agricultural land from 5,813 hectares to 3,953 hectares.

Under the approved zoning plan, Phu Quoc will have new resorts going up and some planned resorts being adjusted.

In particular, a casino has been added to a resort complex in Bai Dai covering 567 hectares. Vung Bau and Cua Can resorts have been enlarged from 394 to 535 hectares and from 102 hectares and 250 hectares respectively.

In addition, the adjusted zoning plan includes a tourism complex of 2,090 hectares in Cua Can and removes a casino at a resort in Bai Da Chong.