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Vietnam to build passenger port for cruise on Phu Quoc Island |
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Update: 23:23, Sunday, Oct 26,2014 (GMT+7)
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Phu
Quoc Tourism Investment and Development, a member of Vietnam’s leading
realty developer Vingroup, has called on the Ministry of Transport and
the Kien Giang administration to allow it to develop the Phu Quoc
passenger port. The company said it will cover all of the investment costs for the port, estimated at VND1.25 trillion (US$58.83 million).
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On
October 23, a consultant board that had been set up to determine where
the port should be located proposed that the facility be built in Duong
Dong town, citing the transport
ministry. The new facility will make use of the land plot left by an old airport in the town. The
proposal won support from the Kien Giang administration, which said the
project is in accordance with the province’s plan for the island.
The
Phu Quoc tourism company said it will develop the project under a mixed
model between the BOT (build-operate-transfer) and BT (build-transfer)
schemes. Phu
Quoc Co said it would seek to be repaid 70 percent of the investment
under the BT model, and will recover 30 percent of the investment from
revenues generated by the passenger port, or the BOT scheme.
Phu
Quoc is the largest island in Vietnam, measuring
589.23 km² in area, with population exceeds 90,000.
Vietnamese
Prime Minister Nguyen Tan Dung has approved a plan to develop Phu Quoc
into a special administrative-economic region administered by the
central government by 2020. Kien Giang now eyes
the arrival of 1-1.2 million visitors to the island in 2015, and 2-3
million tourists in 2020, with gross revenue amounting to US$771 million
by then.
A.K.
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| Tags: Phu Quoc, Port, Vingroup |
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Updated on April 20, 2022
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