Can Tho City’s tourism revenue during this year's nine-day Lunar New Year (Tet) festival skyrocketed 75% on-year to VND70 billion, local authorities have revealed.

The city received upwards of 300,000 tourists during the holiday period, February 15-23, according to a statement from the city People’s Committee.

The committee partly attributed the rise to the fact that the city had opened additional airline flights on several routes for the holiday period including – Can Tho-Danang, Can Tho-Hanoi and Can Tho-Taiwan (China).

The city had also invested heavily in renovating and building new hotels and restaurants, which substantially increased the capacity and quality to accommodate increased tourism traffic.

Customs sector to continue reform

National Assembly Chairman Nguyen Sinh Hung has requested the customs sector to continue reforming its structure, simplifying administrative procedures and expanding information technology application during 2015.

Efforts in these channels produced significant results in 2014, reducing the time required for customs clearance and facilitating the circulation of goods, Chairman Hung stated while paying a visit to the Vietnam Customs agency on February 24 in Hanoi.

He hailed efforts made by the sector to prevent product smuggling and trade fraud.

The NA leader also expressed his hope that the sector will effectively implement the revised Law on Customs and improve the capacity of customs officials.

As of late 2014, all customs departments across Vietnam used the Vietnam Automated Cargo and Port Consolidated System and the Vietnam

Customs Information System (VNACCS/VCIS). Through December 15, 2014, 5.17 million import-export declarations went through e-customs procedures and trade revenues conducted through e-customs were valued at 182.45 billion USD.

Restructuring essential for rubber sector

Vietnam’s rubber industry is predicted to encounter prolonged difficulties in the time ahead and as such, it must focus on restructuring to increase the added value of products and reduce raw material export, said General Secretary of the Vietnam Rubber Association Vo Hoang An.

In 2014, the Southeast Asian country maintained the third and fourth position in the world in terms of natural rubber output and export value, respectively.

An continued to say with around 977,700 hectares of rubber trees, Vietnam produced 953,700 tonnes of rubber last year, a 0.7 percent rise from the previous year and accounting for 8.1 percent of the global output following Thailand (34.1 percent) and Indonesia (26.9 percent).

The country exported more than 1 million tonnes of natural rubber, valued at 1.78 billion USD, down 0.7 percent in volume and 28.4 percent in value from 2013 due primarily to plunging prices.

Rubber product exports exceeded 1.5 billion USD in 2014 with 551 million USD coming from tyre shipments. The respective figures soared by over 30 percent and 51.8 percent from a year earlier, he noted.

Vietnam imported about 372,000 tonnes of natural and synthetic rubber worth 639 million USD in 2014. The country must import all of its synthetic rubber since it is currently unable to manufacture synthetic rubber from crude oil.

The General Secretary underlined an array of difficulties posed for the sector last year as natural rubber prices hit a five-year low, attributable to slow global economic recovery and weak demand. Besides, a nosedive in oil prices from mid-2014 helped increase synthetic rubber’s competitive edge over natural rubber.

Fierce competition from other countries has also presented a major challenge, since the quality of Vietnamese natural rubber is often considered inferior and up to 80 percent of exported rubber is unprocessed, he added.

An cited predictions from international organisations that rubber prices will remain low in the coming years due to substantially-sized unsold inventory.

To cope with the predicted scenario, he asked producers to reduce the frequency of latex extraction to cut down expenses and raise productivity, ultimately improving worker income. He also encouraged the replacement of ineffective varieties with high-yield alternatives and intercropping of rubber trees and others.

He suggested they increase efforts to survey market demand to reform their products appropriately.

Additionally, the industry has to step up its restructuring by intensifying processing activities and designing a comprehensive development strategy linking rubber growers and businesses.

An also noted that more support policies from state agencies and localities are necessary to help the sector overcome hardships.

Dong Nai enjoys strong and profitable pepper crop yield

The southern province of Dong Nai has shipped nearly 900 tonnes of peppercorn abroad so far this year, valued over 11 million USD and representing a 54 percent rise in volume and 150 percent rise in value compared to the same period last year, according to the provincial Department of Statistics.

In the period, Dong Nai’s peppercorn received a record high price of over 12,200 USD per tonne, reported the department, adding that main consumers include India , the US and some Latin American countries.

This year, local farmers also enjoyed a yielding pepper crop average of 5-6 tonnes per hectare with excellent quality, a 3 tonne-per-hectare surge compared to the 2014 equivalent crop.

Farmers across the province are currently cultivating 7,000 hectares of pepper.

Peppercorn prices have remained high over the past four years. With a price of about 200,000 VND (9.4 USD) per kilo, farmers can enjoy a profit of up to 700 million VND (32,900 USD) per hectare, said the department.

Vietnamese peppercorn is currently sold in over 90 countries and territories, accounting for about 30 percent of the global peppercorn production and 5 percent of the global peppercorn exports.

HCM City firms resume operations after Tet

About 700 businesses based in industrial parks and export processing zones, or 65 percent of the total firms, resumed their operations on February 24, the first working day after a nine-day Lunar New Year holiday (Tet).

Around 80-85 percent of employees at these companies returned to work, according to the HCM City Export Processing Zone and Industrial Park Authority (Hepza).

Hepza Office Manager Tran Cong Khanh said the rest of the businesses will return to their normal operations in the next two or three days.

He explained that since a number of workers hail from distant provinces in the northern and central regions, many firms decided to extend the holiday to allow them time to return to HCM City.

State agencies and the local business circle have worked to provide support and welfare for workers during Tet, contributing to a stabilised labour market, said Tran Anh Tuan, Deputy Director of the city’s Centre for Human Resources Forecast and Labour Market Information.

He added that a post-Tet labour shortage is unlikely as workers want steady employment.

The centre predicts around 23,000 job vacancies will be available in March, higher than the two previous months, mostly in the garment-footwear, plastic-packaging production, food processing, construction, information technology, machinery, and marketing sectors.

Tien Giang’s exports hit nearly 245 million USD

Exports of the Mekong Delta province of Tien Giang reached nearly 245 million USD in the first two months of 2015 or 15.3 percent of the yearly target.

In February, the province has exported goods worth 112 million USD, a year-on-year increase of 15.8 percent, according to the provincial Department of Industry and Trade.

Ngo Van Tuan, Director of the department, said most of the province’s key export commodities including processed seafood, garments, leather shoes and bags earned high export turnover.

Tuan attributed the achievements to the province’s programme to boost export and businesses’ efforts.

The province continues encouraging businesses to diversify their export products while efficiently implementing the e-commerce programme and providing information for firms in a timely manner.

During the first two months, Tien Giang shipped abroad nearly 28,000 tonnes of processed seafood, earning over 61 million USD, 11.5 million garment products worth 55.2 million USD, and 4 million pairs of shoes worth 51 million USD.

This year, the province aims for 1.6 million USD in export turnover, up 14.3 percent compared to 2014.

February CPI falls on spiralling oil prices

Viet Nam's consumer price index (CPI) fell by 0.05 per cent in February compared to January and 0.25 per cent from December 2014, according to the General Statistics Office (GSO).

CPI has been falling for four consecutive months since November 2014, with a 0.27 per cent fall in November last year, 0.24 per cent in December and 0.2 per cent in January this year.

This month was also the first February – the month in which the Tet (Lunar New Year) holiday is often celebrated – to witness a fall in CPI since 1996.

According to Nguyen Duc Thang, director of GSO's CPI department, the fall in CPI during the last four months broke the normal fluctuation CPI records in the months ahead of the Tet holiday.

Normally, CPI records rise in prices during the months leading to the Tet holiday, due to rising consumption of goods.

The GSO expert said that plunging oil prices were the primary factor for falling CPI in February. The domestic oil price dropped nearly 12 per cent in January.

Statistics showed that due to the falling oil price, the transport service rates reduced by 4.41 per cent in February compared to the previous month, pushing down the country's CPI.

In addition, the prices of goods were more stable than during the previous years' Tet holiday, without huge increases in prices, which also contributed to a low CPI.

Statistics showed that the rates of food and catering services – the group with the highest percentage among 11 major groups of goods and services in the CPI basket – increased only 0.53 per cent this month. The food and catering service rates were 3.65 per cent in February 2011; 2.11 per cent in 2012; 2.28 per cent in 2013; and 1.15 per cent in 2014.

Three other groups that saw fall in rates included housing and construction materials, transport services and telecom services.

There was a 0.4 per cent drop in CPI in HCM City and a 0.07 per cent drop in Ha Noi in February.

The fall of CPI in the first two months of this year has signalled that inflation will continue to be restricted to a low level this year.

Although falling CPI raised concerns about deflation, Planning and Investment Minister Bui Quang Vinh said at a government meeting in January that the fall of CPI during the last few months was not sign of deflation, but caused by plunging oil and petrol prices in line with the world price fluctuations.

Minister says tighter controls improved mining

The nature of mining activities has changed from being extensive to intensive since the application of stricter regulations, enacted in 2014, said Natural Resources and Environment Minister Nguyen Minh Quang.

Speaking to the government portal in an interview, Quang said that this was a highlight of the sector's performance in 2014.

Tighter controls over mining, introduced by the ministry last year, which compelled firms to pay for the grant of mining rights and to set up processing facilities, prevented players with financial and technological constraints from venturing into the business, he added.

Quang cited a report that before 2010, when the Mineral Law came into effect, an average of 800 businesses were granted mining licences by provincial authorities per year, but the number fell by half in 2014.

Additionally, the new rule has driven mining firms to invest more in exploration, production and processing technologies, he pointed out.

On the other hand, the imposition of a charge on businesses granted mining rights for the first time earned the State budget VND5 trillion (US$235 million) last year, when it was applied on 500 mines or so that were licensed before the Mineral Law became effective in 2010 and 100 mines that were newly licensed in 2014.

Another highlight of the sector's performance in 2014 was the advice it gave to the government on issuing regulations for guiding the enforcement of the 2013 Land Law, including provisions aimed to reform land-related administrative procedures, the minister said.

"As a result, the number of administrative procedures in the one-stop office for land registration has fallen from 41 to 30, and the number of land-related complaints in areas where the office has not been established yet, has dropped by nine from the previous 62.

"At the same time, the time spent on clearing administrative procedures has been cut considerably as numerous local authorities have started accepting applications online," he said.

While recognising that administrative procedure reform has made life easier for businesses, the minister admitted, "What concerns me most is that despite the reduction in the number of land-related complaints, their complicated nature remains unchanged, here and there."

Local wood exports projected to grow

Viet Nam expects the export value for its wooden products to jump to US$7 billion this year, according to the Viet Nam Wood and Forestry Product Association.

The association said the export value will be higher than the $6.23 billion reported last year, because global demand for timber and wooden products is predicted to jump this year, while trade agreements that are expected to be signed this year will improve the export prospects for the domestic wooden industry, the Voice of Viet Nam reported.

However, the industry will face challenges from trade agreements due to the high demand in the origin certificates for wood, while Viet Nam must buy wood from many countries and not all countries possess the origin certificates, the association stated.

Nguyen Ton Quyen, the association's chairman, said wooden product exporters have invested in new products that have high demand in the world market, such as wooden planks and artificial board, to promote exports this year.

According to the Ministry of Agriculture and Rural Development (MARD), Viet Nam saw a decline of 8.3 per cent during the first month of this year to $494 million, against the same period of last year.

Last year, the country reported a year-on-year surge of 11.1 per cent in export value of wood and forest products to $6.23 billion.

The United States, Japan and China were the three largest markets for Vietnamese timber last year, accounting for 65.13 per cent of the national total export value of timber and forest products.

With exports pegged at $6.23 billion last year, Viet Nam was counted among the 10 largest exporters in the world, but accounted for a mere 2.68 per cent of the total global exports, and can therefore still increase its market share, the association pointed out.

Minister says more efforts needed to enhance business environment

Authorities must make bigger strides this year in improving the country's business environment, said Minister of Planning and Investment Bui Quang Vinh.

The revised investment and enterprise laws passed by the National Assembly last year would stimulate new waves of investment, Vinh said in an interview with Tuoi tre (Youth) Newspaper on the occasion of the lunar new year.

The National Assembly aims with the revisions to create advantageous conditions and minimum market penetration costs for companies, in line with the country's integration process. Other newly issued laws, such as the law on tendering, were sufficiently transparent, Vinh said. And new policies on medicine bidding helped reduce drug prices by 30 per cent.

Vinh also pointed out that while many policies were very open, some decrees and circulars with specific guidelines had complicated them or even conflicted with them.

Some officials abuse their positions by targeting certain companies or refusing to correct their errors.

"These things are unacceptable," he said. "I hope the problems will lessen in 2015."

Most small- and medium-sized enterprises still find it difficult to access loans. Pham Khac Hong, head of business development at the electronics company VNPCB, said the firm was "extremely in need" of Government support in training and technology investment.

Pham Ngoc Thai, general director of confectionery company Pham Nguyen, said the Government should assist firms in support industries, which help reduce the need for imports. The 1,000-worker company will have to invest nearly $3 million in machinery for market expansion this year. It wouldn't cost nearly as much if the necessary equipment were produced it Viet Nam, instead of abroad.

He also suggested authorities launch a support programme for exporting to ASEAN countries following current market development trends.

Nguyen Kim Huong, director of Ngo Minh, a trading firm, said her company had to compete fiercely with its Thai counterparts.

"The best method of support is maintaining current macro-economic stability with low and stable interest rates, which help local firms feel secure borrowing capital for production," she said.

The disparity in businesses' performances in different economic sectors was "thought-provoking," Minister Vinh said. Last year, foreign direct investment (FDI) enterprises represented 68 per cent of Viet Nam's total export value, $150 billion.

"This is a success for foreign investment attraction, but looking from the angle of the economy's health, it's worrying," he said.

Local private companies needed increased support so they could become the most important force driving economic growth in the long run, Vinh said. Without such development, Viet Nam would never grow into a solid, self-controlled economy, he added.

"As the Government has defined private businesses as a future backbone for the national economy, it must have policies to materialise this at any cost," said Viet Steel chairman Do Duy Thai.

Vinh said the Ministry of Planning and Investment had asked the Government to create a law on SMEs by the end of 2015. The ministry hopes the law will help with company formation, training, preferential lending, market access and brand name development.

The ministry reserved VND500 billion ($23.81 million) to assist SMEs in 2015, according to Vinh. It aims to facilitate the development of nursery centres for enterprises and people who have good business ideas and need help with loans, machinery or experimental facilities.

Petrol firms' 2015 imports pegged at 8.18m tonnes

The Ministry of Industry and Trade has granted permission for importing at least 8.18 million tonnes of oil and petrol products this year to 19 petroleum trading companies.

Specifically, the Viet Nam National Petroleum Corp. (Petrolimex) received the largest import quota at 4.022 million tonnes against 4.396 million tonnes last year. It was followed by the PetroVietnam Oil Corporation (PV Oil), which received approval for importing 930,000 tonnes, up from 591,000 tonnes last year.

Meanwhile, SaigonPetro and Thanh Le Co. have been allocated an import quota of 493,000 tonnes and 540,000 tonnes, respectively. Under the current regulations, petroleum importers will not be allowed to import below the assigned levels in order to meet anticipated domestic demand.

Viet Nam imported an estimated 8.43 million tonnes of petrol and other oil products last year, up 14.5 per cent from the previous year.

The Ministry of Finance recently raised tariff caps on the imports of fuel, petrol and diesel products. Import taxes imposed on petrol products will range from 20 per cent to as high as 40 per cent, up from an earlier maximum taxation of 30 per cent.

Diesel and mazut (a type of fuel oil) imports will have to bear taxes of between 15 per cent and 40 per cent, also an increase from the 25 per cent limit fixed earlier.

Saigon Newport launches new container management software

Saigon Newport Corporation launched its new container management software, called TOPOVN, and re-started business operations at Cat Lai Port in HCM City's District 2 on February 20.

With an investment of US$1.1 million, TOPOVN will replace CMS - the old management software. The new software is expected to decrease the time needed to unload cargo from 2 to 3 hours to 50 minutes.

Terminal Operation Package System (TOPS) is a container management system developed by Australia's RBS Group. The system consists of two main subsystems, operations planning TOPX and container data management (TOPO).

Subsystem TOPOVN is an improvement over features offered by TOPO and was developed by RBS Group and Tan Cang Information Technology Solutions JSC (TCIS). The subsystem might be used to integrate and exchange data with third party software, such as electronic data interchange (EDI) and customer relationship management (CRM). It also ensures data security, transaction management, data access speed and creates reports following the demands of users. TOPOVN is designed to be used along with the TOPX system.

Rice prices climb upwards

After continuously falling, winter spring rice prices have begun to inch up in the Mekong Delta provinces in recent days.

Fresh normal rice price ranged from VND4,200-4,300 a kilogram in Dong Thap, Vinh Long, Can Tho and An Giang on February 23. High quality rice was paid VND4,400-4,500 a kilogram while fragrant variety fetched VND5,000 a kilogram.

The prices increased an average of VND200-400 a kilogram over early February. The Mekong Delta provinces have entered peak harvest time of winter spring crop after Tet holidays.

Huynh Phu Loc, trader from Lai Vung district of Dong Thap province, said that they had begun purchasing rice after three days of Tet and export businesses have also run their business operation again. Rice price is expected to further edge up in the next days.

Vietnam’s banh trang exported to US

Banh Trang (paper rice cake) from Cu Lao May village in the Mekong Delta Province of Vinh Long has been exported to the United States.

It is a peaceful place with 1,300 hectares of fruits and vegetables, according to chairman of the People’s Committtee of the commune, Nguyen Thanh Luan.

Every year, on the peak season of Tet, most of households in the village are in hurry to make Banh Trang to sell in the country and export to the US.

Mrs. Nguyen Thi Nhan, 73, one of the best skilled craftwomen in the village said that she was early introduced the traditional career at the age of 17. Cu Lao May’s Banh Trang wins consumers’ hearts for its glutinousness, delicious and savory as well as elaborative processing and mixing.

Head of the Cu Lao May’s Banh Trang Co-operative, Luong Van Thong said that manufacturing businesses have also exported a small quantity of banh trang to some countries.

At the end of 2014, an American customer made an order of 4,000 cakes. Businesses had to complete his order in a few days and received acclaim for the high quality from customers.  The expiration of 90 days provides an easy way to export, he added.

Banh Trang from Cu Lao May has many kinds, such as banh trang ngot (sweet paper rice cake), banh sua (milk paper rice cake), banh dua (coconut paper rice cake), banh cay (spicy paper rice cake) and others.

Many supermarkets have given enterprises in Cu Lao May orders for banh trang.

The Cu Lao May’s Banh Trang Co-operative will expand its presence in the US and Asian markets soon.

Making solid steps towards the future

The economic situation in 2014 saw more positive signs, particularly in the remaining months of last year, despite the event with China’s oil rig HD-981 in May, consolidating Vietnam’s confidence in a better 2015 on the economic front.

The inflation rate in 2014 rose 1.84% over December 2013 and 4.09% over the average rate in 2013, much lower than the estimated figure of 7%, and was also the lowest rate over the past ten years. The low inflation rate came in the context of rather high economic growth and bumper agricultural production, showing no sign of deflation.

The gross domestic product (GDP) of the service sector continued to grow despite difficulties of the tourism sector and the ongoing restructuring of the banking sector, while the agricultural, forestry and fishery sectors boasted a year of higher productivity. The highlight of the 2014 economic

picture was the rise of the industrial production index, particularly in the manufacturing and processing industries.

The total national export revenue hit a record high of US$150 billion in 2014 and import revenue reached US$148 billion, bringing in a trade surplus of nearly US$2 billion, equivalent to 1.5% of the total export value.

2014 also saw high disbursement of official development assistance (ODA) and foreign direct investment (FDI). The total social investment capital reached over 30% of GDP.

Last year, the budget revenue rose by 6% and budget deficit was within the target of 5.3% of GDP. In addition, the financial-monetary market remained stable with a downward trend in interest rates and a high growth rate for banking credit.

Besides healthy signs, challenges remain. The total non-performing loans of State-owned enterprises (SOEs) announced by the Government has climbed up to VND1,500 trillion (US$70.5 billion) and, along with the slow equitisation progress, is obstructing the recovery of production and business activities of SOEs.

The poor management of domestic businesses is also an issue of great concern. Another problem is job creation and high productivity jobs as 48% of the total labour force are low productivity labour. In addition, Vietnam has not mastered the domestic market and has yet to meet the high requirements of international integration and fierce competitiveness.

It can be seen that, many positive factors in 2014, including both objective and subjective, may not be maintained in 2015, while more efforts are needed to fulfil the economic targets set for 2015. The decline in energy prices and non-oil materials should be analysed and considered to put forth more appropriate economic policies. Institutional reform will also face difficulties as it has to overcome psychological barriers and new viewpoints on development.

However, the National Assembly adopted the revised Constitution in 2013 along with the approval of Investment Law and Enterprise Law in 2014, opening new room for renewal and development.

In addition, SOEs and the banking system plan to complete their restructuring in 2015, indicating another positive sign to boost the economy. In the remaining months of 2014, Vietnam also witnessed the conclusion of negotiations of Free Trade Agreements (FTA) with Republic of Korea, the European Union and the Customs Union of Russia, Belarus and Kazakhstan and positive negotiations on the Trans-Pacific Partnership (TPP) agreement. 2015 is also the year the ASEAN Economic Community (AEC) will become a reality.

Despite many difficulties, Vietnam’s economy has stood up again, relying mainly on the persistent reforms, existing advantages and its inner strength, which will allow the country to keep making firm steps towards the future.

Agricultural exports target US$32 billion in 2015

Vietnam’s agricultural sector aims to earn US$32 billion from the export of produce in 2015.

Minister of Agricultural and Rural Development Cao Duc Phat said many trade agreements will be signed and come into effect this year, bringing both opportunities and challenges for Vietnam’s agricultural goods.

The Vietnamese market this year will be open to virtually all agricultural products from ASEAN countries with up to 90% of commodities exempt from duties, excluding sugar, meat and eggs, among others, which are levied a rate of 5%.

Minister Phat said in order to achieve the US$32 billion target, the sector will continue to push through agricultural restructuring in tandem with building new rural areas with a focus on high-value products.

In 2014, revenues from agricultural exports set a record high of US$30.8 billion, up 11.2% from a year earlier.

2014 sees Phu Quoc’s positive change

Phu Quoc island’s position and physiognomy have seen a positive change in 2014. The Year of the Horse is identified as a very important milestone marking the strong development of the ‘Paradise Pearl Island’.

In 2014, many projects in Phu Quoc Island, such as An Thoi International Port; Duong Dong breakwater; Duong Dong water reservoir and Nguyen Trung Truc Bridge, have been gradually completed, according to Vice Chairman of the Phu Quoc district People's Committee Huynh Quang Hung.

Most notably, a submarine cable system from Ha Tien city to Phu Quoc Island in the southern province of Kien Giang was inaugurated in February, 2014. The system, the longest in Southeast Asia, stretches 57.33km from Thuan Yen village in Ha Tien town to Phu Quoc district’s Ham Ninh village. It includes two 110/22kV-40MVA transformers in Ha Tien and Phu Quoc. The cable system helps to lower the VND25,000 per kWh electricity prices local residents must bear, to levels enjoyed by their mainland compatriots and connect the country's largest island to the national grid.

Along with the 110kV underground cable system, in 2014, a fiber optic cable linking Phu Quoc Island to the mainland of Kien Giang Province also brought high-speed Internet connection to the islanders and tourists. Island residents and tourists can now enjoy hi-speed Internet connection and cable TV, as well as a better mobile phone network and digital data transmission services.

Last year, a series of airlines opened new route while they increased the frequency of flights on the routes connecting Phu Quoc and the Republic of Korea (RoK), China, Russia, Singapore, and Siem Reap (Cambodia). Phu Quoc welcomed 586,000 tourists in 2014, including over 124,500 foreigners. International tourists are attracted to Phu Quoc Island’s warm climate, charming beaches, beautiful landscapes, friendly people, and healthy food.

Also aiming to contribute to the development of the tourism industry on Phu Quoc Island, Vingroup officially inaugurated Vinpearl Phu Quoc Resort in the district island of Phu Quoc on November 1 after only 10 months of construction. As the first and biggest five-star resort with a golf course, Vinpearl Phu Quoc has helped upgrade tourism infrastructure on the famous island.

Located on Phu Quoc's Long Beach, known as one of the most beautiful beaches in the world, Vinpearl Phu Quoc covers a 300ha area consisting of a hotel and five-star villas with 750 rooms, an entertainment area with modern equipment and a 27-hole golf course that measures up to international standards. The resort's inauguration is expected to serve as an impetus for the development of tourism on the island. "We are proud to create a resort that resembles heaven for tourists", said Vu Tuyet Hang, Vice-chairwoman of Vingroup and general director of Vinpearl Joint Stock Company.

Vinpearl Phu Quoc hosted the final round of Miss Vietnam 2014 between November 26 and December 6. The final round witnessed the performance of world-famous contemporary singer Kelly Clarkson.

With the rapid development in recent years particularly in infrastructure and tourism, Phu Quoc island district was recognised as a second-class city in 2014. The Government’s recognition is a favourable condition for Phu Quoc to build it into a green and beautiful tourism centre up to regional and international standards in the future.

Phu Quoc attracted over 200 projects covering 8,768ha by investors across the country. According to General Manager of Saigon Phu Quoc Hotel & Resort Phung Xuan Mai, the businesses created breakthrough. “The dialogues between authorities and businesses will help develop the island faster”, said General Manager Mai. The Saigon Phu Quoc Hotel & Resort has co-ordinated American Hotel & Lodging Educational Institute (EI) and Vietnam's Kien Giang Vocational College to train human resources for the tourism industry.

Through developing tourism, many local people have a new life. Nguyen Van Be’s family, owner of Sao Bien Resort and Thien Hai Son hotel in

Duong Dong town, is an example. Established in 2004 with 48 bungalows, Sao Bien Resort ranked 17th out of 25 of the best hotels and resort in Vietnam by Trip Avisor.

Meanwhile, veteran Trinh Cong Phat, after returning from military service, became a businessman with a factory producing wine, tea, candy and honey from tomentose rose myrtle.

After ten years of implementing Decision 178/2004/QD-TTg of the Prime Minister on research for long-term development of Phu Quoc, the district has an annual average economic growth rate of 25% and an annual income per capita of more than US$3,416. The island’s visitors to the island posted an average annual growth rate of 13%.

In the future, Phu Quoc will have an international port, which promises to welcome thousands of visitors on luxury cruise ship worldwide.

By 2020, the island is expected to gross US$ 771 million from providing hospitality to 2-3 million tourists annually, 40 percent of them foreigners.

As per the master plan for socioeconomic development in Kien Giang Province, Phu Quoc Island will be turned into a special administrative and economic zone in 2020, playing the role of a transport hub and a center of ecotourism, finance and scientific research. The island will conserve forest and marine biodiversity and occupy a special position in national defense and security.

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