Historical opportunities and challenges for Phu Quoc resort real estate

(NLDO) - Being chosen as the host of APEC Week 2027 poses a challenge for Phu Quoc as well as a great opportunity for developing resort real estate.

Afternoon of April 18, in Phu Quoc City, Kien Giang Province, Economic and Urban Newspaper in collaboration with Phu Quoc City People's Committee organized the Workshop "Phu Quoc resort real estate towards APEC 2027 and sustainable development".

Perspective of the multifunctional complex, where the APEC 2027 Summit Week will take place in Phu Quoc

The workshop aims to create a forum for experts, managers and businesses to assess the current investment situation in the resort real estate sector on Phu Quoc Island.

The workshop also pointed out the advantages and disadvantages, opportunities and challenges of Phu Quoc resort real estate before the APEC Week 2027 event, towards sustainable development.

Associate Professor, Dr. Tran Dinh Thien delivered a speech at the conference.

According to experts and scientists, APEC 2027 is a historic opportunity that will create momentum to turn Phu Quoc into a leading tourism and economic center in the region and the world, but at the same time it is also a great challenge and pressure for this locality.

Associate Professor, Dr. Nguyen Thanh Loi, Editor-in-Chief of Economic and Urban Newspaper, speaking at the conference

Associate Professor, Dr. Tran Dinh Thien said that there are only about 19-29 months left to carry out about 30 upgrading, renovation and construction projects to serve the APEC 2027 Summit Week, which is a huge challenge. From now on, Phu Quoc needs to urgently, even race to adjust the planning, expand the airport, renovate the urban area, upgrade the transport infrastructure to welcome APEC 2027, in parallel with accelerating the implementation of the action plan, investing in the implementation of projects to build works serving APEC.

Mr. Tran Minh Khoa, Chairman of Phu Quoc City People's Committee

"To turn challenges into opportunities, Phu Quoc needs a mechanism to coordinate between the Central and local governments to implement a special national priority action program; encourage initiatives to remove "mechanism bottlenecks", expand the empowerment of initiative and creativity for localities and businesses in implementing projects..." - Mr. Tran Dinh Thien proposed.

Many projects and works serving the APEC 2027 summit week must race against time.

Discussing the current mechanisms, policies and laws for the Phu Quoc resort real estate market before the historic opportunity of APEC 2027, many experts and scientists pointed out legal bottlenecks that need to be removed, practical barriers that need to be cleared; thereby emphasizing the need for a specific mechanism for Phu Quoc.

Resort real estate in Phu Quoc expects "leverage" from APEC 2027

Speaking at the workshop, Mr. Tran Minh Khoa - Chairman of Phu Quoc City People's Committee - commented that Phu Quoc's recognition as a first-class urban area under Kien Giang province is a turning point in the process of building and developing the city.

"In recent times, the Phu Quoc real estate market has been formed and is developing. Although there have been ups and downs, this is still an attractive field, strongly attracting economic sectors.

Identifying tourism infrastructure as one of the important needs in tourism development and attracting the attention of many domestic and foreign enterprises to approach and seek investment opportunities, the city focuses resources on developing urban and tourism infrastructure, as a basis for promoting the real estate market, considering this a priority area to attract investment in the orientation of local socio-economic development in the coming time" - Mr. Khoa emphasized.

According to Associate Professor, Dr. Nguyen Thanh Loi, Editor-in-Chief of Kinh te va Do thi Newspaper , besides the above positive signals, investment in resort real estate is still limited due to some policies and laws that are still inadequate, overlapping, and not suitable for reality, causing obstacles and bottlenecks for development. The workshop is an opportunity to comprehensively review the current situation of resort real estate development in Phu Quoc, thereby proposing strategic solutions to remove obstacles, unlock resources and shape a more sustainable and effective direction for the future.

Source: https://nld.com.vn/co-hoi-lich-su-va-thach-thuc-cho-bat-dong-san-du-lich-nghi-duong-phu-quoc-196250418183639903.htm