The improvement in infrastructure system along with the preferential policies have stimulated investors to come to set up business in Phu Quoc and do company.

1. The improvement in infrastructure system along with the preferential policies have
stimulated investors to come to set up business in Phu Quoc and do company.
Phu Quoc, an island in Kien Giang of Vietnam is in the top of three islands having
tourism potential in Southeast Asia comparable to Phuket in Thailand and Bali in
Indonesia. Phu Quoc has become a magnet for attracting huge investment flows from
foreign investors in the area of real estate, entertainment, casinos, restaurant or food and
beverage service business.
Phu Quoc has temperate weather throughout the year. There are also fresh and friendly
forest – sea ecology and the modern transport system on the island with international
airport and international hospital. Moreover, many infrastructure projects and
international schools are under construction, which are necessary and favorable
conditions to invite and attract investors to the Pearl Island for doing business.
Capital inflows to Phu Quoc have really exploded after the “knots” in investment were
removed. The new airport went into operation that can welcome larger aircraft and serve
more flights, in which there are more international direct flights from China, Singapore,
Russia and Cambodia. The 51km long radial route on the island has been basically
completed; the road around the island and the branch roads are also being deployed. The
power grid was pulled from the mainland to the island, replacing the very high cost
gasoline power in the past.
The real estate and tourism consultants all agree that Phu Quoc fully convergent
elements of an attractive beach for tourist with year-round sunshine, many beautiful
beaches such as Long Beach, Truong Beach, Khem Beach and immense virgin forest.
Moreover, Phu Quoc has a strategic location with just 1-2 hours flight to the key tourism
markets in Southeast Asia.
Both investment and tourism in Phu Quoc have entered the acceleration phase. By the
end of July 2015, Phu Quoc has attracted nearly 200 investment projects, including 136
projects that are being implemented in the area of over 5,100 ha with total registered
capitals of 6.5 billion USD. Just one part of those projects become reality then it will
make Phu Quoc to become a leading tourist destination in Vietnam, ahead of Da Nang
and Nha Trang, competing with the top destinations in the area as Phuket and Bali.
Some of the largest Vietnam corporations such as Vingroup, Sun Group, CEO Group,
BIM Group are implementing the huge projects that could alter the appearance of the
island. In which the giant in real estate sector – Vingroup has invested projects as:
Vinpearl Resort on an area of 300 ha in Long Beach, the combining of golf course and
safari zoo on an area of more than 2,000 ha, and the 80 ha commercial complex.
The improvement in infrastructure system along with the preferential business and legal
environments i.e. favourable land rental rates, corporate income tax, exemption of visa
for foreign tourists make Phu Quoc island of Kien Giang, Vietnam a new attractive place
for investment.

2. The actual time for processing paper at the State authority would also last longer in
practice when the State authority evaluate the project plan of the investor to ensure that
its investment purpose is achievable economically and in accordance to the regulations
of Vietnam. It is advised that the client engage professional law firms in Vietnam to
assist with advisory and to apply investment certificate in Vietnam for doing business
in Vietnam.
Readmore: https://lawyersindanangvietnam.blogspot.com/2023/07/why-investors-
should-set-up-business-in.html