The adjusted master plan to develop Phu Quoc to 2030 was revealed last week by Vietnamese government. Under this new master plan, all projects in the island district must be reviewed. Any on-going projects and future developments are considered inappropriate with the new plan will be temporarily stopped until investors alter their investments to cope with the new plan.

By 2030, Phu Quoc will become a special economic and administrative center of Vietnam as well as a major tourism destination with many domestic and international resorts and entertainments. It is estimated that Phu Quoc will welcome five to seven million domestic and international tourists per year. The plan turns the Island district into a forest and marine preservation center and urban developments.

Phu Quoc district is formed by Phu Quoc Island – the biggest island in Vietnam – and 21 surrounding islands with the approximate total area of 600 square kilometers, the same as Singapore. Forty-five domestic and foreign-invested projects have been granted licensed with a total investment capital of nearly US$ 3 billion dollars. Another eighteen projects have also given approval in principle. Famous destinations such as Bai Ong Lem, Bai Dat Do, Bai Sau, Bai Trem are center of majority tourism development projects. These are foreign investments in high-end villas, resorts, hotels, golf courses and apartment for lease such as Berjaya Long Beach resort, Veranda and Miramar.

The biggest project was licensed in Phu Quoc is the British Virgin Island Starbay with the initial investment capital of US$ 1.65 billion which was raised to US$ 1.8 billion last year. The project will develop Dai Beach resort in an area of 540 hectares of Dai beach located in the island’s Ganh Dau commune. When finishing, which is expected within 12 years of development, the resort will include luxury villas, two golf courses, deluxe beach-front hotels, condos, water lagoons as well as other entertainment and commercial facilities.