VietNamNet Bridge - After many years of witnessing sky-high growth rates, Phu Quoc is now moving toward sustainable development.

Real estate transactions in Van Don and Bac Van Phong, reserved to become SEZs in the future, have become frozen. 

Experts have affirmed that the real estate market in Van Don, Phu Quoc and Bac Van Phong will not be influenced by the National Assembly’s decision on delaying the adoption of the draft law on special economic zones (SEZs). 

The Government has proposed that the draft law on special administrative-economic units will be submitted for voting later at the sixth session of the 14th National Assembly (NA) at the end of this year. 

While National Assembly’s deputies believe that allocating land for up to 99 years in special economic zones SEZs is not a good policy, the Ministry of Planning and Investment (MPI) still persists in its opinion.

VietNamNet Bridge - The three special economic zones (SEZs) are on the horizon as Vietnam is setting a legal framework, preparing for the establishment of the zones.

VietNamNet Bridge - The link among economic and industrial areas in the Central Region Key Economic Zone remains very weak after 10 years of development. 

Phu Quoc, Van Don and Bac Van Phong, in order to develop into powerful SEZs, need to have an outstanding business environment and new institutional policies, experts say.

VietNamNet Bridge - More than half of the investors seeking to buy land on Phu Quoc Island and areas to be used as special economic zones (SEZ) in the future are from the north and Hanoi.

VietNamNet Bridge - It is expected that by 2020, coastal economic zones (EZs) will play a decisive role in developing the marine economy of Vietnam, making up 53-55 percent of GDP.

VietNamNet Bridge - Van Don, Bac Van Phong and Phu Quoc - three special economic zones (SEZs) – are new destinations for large real estate developers. 

An international airport, seaport system, road traffic and good infrastructure are attracting investment in Phu Quoc. Hundreds of trillion of dong have been poured into the island which will be an SEZ (specialized economic zone) in the near future.

VietNamNet Bridge - Union Gaming Securities Asia (Macau) estimates that if Vietnam has 30 casinos, it could earn $1.2 billion in gross revenue.

All three special economic zones (SEZs) Vietnam plans to set up – Phu Quoc, Bac Van Phong and Van Don – will give priority to services, tourism and integrated entertainment with casinos. 

Though experts all agree that SEZs must be run with ‘special political institutions and outstanding policies’, they dare not ‘make a breakthrough’ and design regulations which go beyond the current legal framework.

VietNamNet Bridge - Kien Giang provincial authorities’ proposal to allow the dollar to be used in Phu Quoc Special Economic Zone (SEZ) has stirred controversy.

VietNamNet Bridge - More than 2.26 million travelers visited Phu Quoc Island in the first nine months of 2017, an increase of 8.8 percent over the same period last year.

VietNamNet Bridge - Most special economic zones (SEZs) around the world have to experience at least one decade before gaining success.

VietNamNet Bridge - Once Bac Van Phong SEZ is set up, Van Phong Bay will have great opportunities to develop its potential.