THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Phú Quốc eyes stronger trade sector
VGP – A master plan of trade development of Phú Quốc Island to 2020 was recently approved by the Ministry of Industry and Trade.
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Sap beach in Phú Quốc – Illustration photo |
The commercial sector will be prioritized in the local policy on socio-economic development.
The goal is to convert Việt Nam’s biggest island into a commercial center of the country and the region.
All components of the economy, including State-run enterprises and foreign companies, are encouraged to engage in upgrading commercial infrastructure and providing modern distribution and auxiliary services.
The trade sector expects to contribute VND 272.6 billion and VND 672.5 billion to the island’s GDP by 2015 and 2020 respectively.
On schedule, by 2020, the sector will be able to meet consumption and purchasing demands of tourists and improve living standards for local residents. Export and import activities and services will be boosted and modernized.
The 593-hectare island in the southern province of Kiên Giang, known as “Pearl Island”, is planned to become one of Việt Nam’s hottest tourist destinations.
By Kim Loan