Want to be in the loop?
subscribe to
our notification
Business News
PHU QUOC-GUANGZHOU AIR SERVICE IN THE OFFING
Hung told the Daily that after a recent survey trip to the resort island, representatives of China Southern Airlines have agreed with the local government and the authority of Phu Quoc International Airport about the plan to start Phu Quoc-Guangzhou service from January next year.
The air carrier will use its Boeing or Airbus aircraft for three weekly flights on the route.
According to the airline, Phu Quoc Island is a good destination for Chinese tourists to visit as they like to enjoy seafood and swim in the ocean. The airline asked the locality to provide relevant information on laws, customs procedures, accommodation facilities, and travel services.
Hung said Phu Quoc welcomed 750,000 visitors in January-October and 30% of them were foreigners, up more than 44% over the same period last year.
The island is expected to serve 900,000 tourists this year.
There are over 6,000 hotel rooms on the biggest island in Vietnam and the figure will reach 15,000 by 2020, which can accommodate 2.5-3 million visitors per year.
Hung said Phu Quoc has so far attracted more than 200 domestic and overseas projects worth a total of VND168 trillion (US$7.57 billion) mainly in tourism and entertainment sectors.
Major projects include the 36-hectare amusement park and casino development worth US$4 billion (US$180.5 million) in Ganh Dau, the 500-hectare safari of Vinpearl Land, the tourism and entertainment complex worth VND16 trillion (US$721.9 million) invested by Sun Group on Hon Thom Island, and the international seaport of Duong Dong worth VND1.6 trillion (US$72.2 million).
Source: The Saigon Times
Related News
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/FDI.jpg)
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.
![Card image cap](/uploads/news/Eco4.jpg)
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.