Affirming International Status and Promoting Comprehensive Cooperation
The 30th Asia-Pacific Economic Cooperation (APEC) forum, themed "Connecting and Building Inclusive and Self-Reliant Economies," marks a significant milestone, affirming Vietnam's strategic position in the region. This is also a great opportunity for Phu Quoc to break through and become a global center for economic, social, and trade cooperation.
Aspiration Tower - Aspira Tower is expected to be completed in 2027 in Hon Thom.
Welcoming thousands of delegates, high-ranking leaders, and businesspeople from 21 APEC member economies, Phu Quoc will become the focal point for trade agreements and a place to build partnerships between economic powers such as the US, China, Japan, South Korea, etc. This is predicted to attract strong FDI flows, boosting key economic sectors such as tourism, real estate, retail, and services.
Experience from Da Nang, which hosted APEC 2017, shows the significant impact of international events on the city's economic development. Da Nang welcomed approximately 15,000 attendees and 6,000 international journalists, attracting over US$4 billion in committed investment after the event. In 2018, all nine key economic indicators showed good growth. Tourism clearly demonstrated its role as a spearhead economic sector with double-digit growth in both domestic and international tourists, recording total tourism revenue of approximately VND 24,000 billion, up 23.3% compared to 2017. Compared to Da Nang at that time, Phu Quoc currently has a stronger foundation and is particularly facing a new opportunity in the era of national advancement.
Every day, Phu Quoc welcomes over 30 international flights from South Korea, Thailand, Taiwan, and European countries…
Accelerating Infrastructure Upgrade Plans
APEC 2027 will be a boost for Phu Quoc to accelerate key infrastructure projects, from transportation to urban works. The city currently has 311 projects, with a total investment capital of up to VND 428,000 billion, including large-scale entertainment and resort complexes that are highly competitive in the region. However, Phu Quoc's vision goes further, with plans to upgrade the port and international airport to expand its capacity to receive ships, commercial flights, and international private jets. At the same time, strategic routes are also being planned, ensuring convenient connections from the airport to key areas and prominent tourist areas of the island.
Phu Quoc City People’s Committee Chairman, Mr. Tran Minh Khoa, stated: "Currently, Phu Quoc welcomes over 30 international flights daily, with approximately 10,000 – 11,000 international tourists. Duong Dong International Passenger Port has been invested in for a long time, and we are finalizing the paperwork to complete the process and have this port recognized as meeting international standards, allowing international tourist ships to dock directly, without needing to go through any transfer or transit. We are closely coordinating with the provincial departments, agencies, and the Vietnam Maritime Administration to put the port into official operation as soon as possible, with the earliest expectation being the end of February 2025."
In addition, last year, many key projects, conference centers, and high-end resorts were also vigorously implemented to meet the needs of high-end tourists, targeting delegates and visitors during and after the APEC event. Notably, at the end of December 2024, Sun Group commenced construction of the Aspira Tower - The Aspiration Tower project on Hon Thom Island. Scheduled for completion in 2027, the project will become a luxurious resort-entertainment-commercial complex including The Luxury Collection Hon Thom hotel, with the expectation of not only meeting the needs for recreation and meetings but also becoming a new icon attracting millions of tourists annually to Hon Thom, Phu Quoc.
Breakthrough Opportunity for the Tourism Industry
Furthermore, Phu Quoc is currently a bright spot in attracting international tourists, with nearly 1 million international visitors in 2024 and a vertical growth chart for international flights, increasing by 5-6 times in just one year.
After APEC, Da Nang’s tourism image spread widely across the world, impressing with its safety, dynamism, and modernity. Phu Quoc, with its advantage of stunning natural scenery, visa exemption policy, and modern infrastructure, and high-end tourism products with great competitiveness in the region, is predicted to reap similar success, continuing to attract a large number of international tourists after APEC 2027.
Continuous investment in new infrastructure and products contributes to making Phu Quoc a destination for international events.
Associate Professor, Dr. Pham Trung Luong, former Vice Director of the Vietnam Tourism Research and Development Institute, believes that Phu Quoc has many opportunities to develop and compete with famous tourist destinations in the region such as Phuket (Thailand) and Bali (Indonesia). Developing new tourism products while maintaining the characteristic natural elements will create a significant difference for Phu Quoc. Cultural and entertainment products have and are creating that difference. World-class shows such as "The Kiss of the Sea" and "Ocean Symphony" have made an impression and attracted tourists. Iconic works such as the Kissing Bridge further help Phu Quoc affirm itself as a high-class international tourist destination.
Mr. Le Van Du, Permanent Vice Chairman of the G7 Travel Association, affirmed: "With complete infrastructure and tourism ecosystem and convenient accessibility, Phu Quoc will become a venue for organizing world-class events."
On this solid foundation, APEC 2027 will continue to create a favorable environment to promote international partnerships and cooperation and improve the investment environment in Phu Quoc. With the presence of international businesses in trade, services, and tourism, Phu Quoc can expect a strong transformation in these areas. Domestic and foreign investors and businesses will have more confidence in the sustainable development of the Pearl Island, especially in the context of continuous preferential policies and reforms.
APEC 2027 is sure to be an "explosive show", illuminating Phu Quoc and acting as a lever to help transform the island into a leading economic, tourism, and service center in the region in the future.
