What does Phu Quoc gain when it becomes the host of APEC 2027?

After nearly 10 years, like Da Nang , the opportunity has come to Phu Quoc when it was chosen as the venue for APEC 2027. The pearl island is facing an unprecedented opportunity.

Affirming international position and promoting comprehensive cooperation

The 30th Asia-Pacific Economic Cooperation (APEC) with the theme “Connecting and Building Inclusive and Resilient Economies” is an important milestone, affirming Vietnam’s strategic position in the region. This is also a great opportunity for Phu Quoc to break through and become a center for global economic, social and trade cooperation.

Aspira Tower is expected to be completed in 2027 in Hon Thom.

Welcoming thousands of delegates, senior leaders and businessmen from 21 APEC member economies, Phu Quoc will become the focus of trade agreements and a place to build partnerships between economic powers such as the US, China, Japan, South Korea, etc. This is expected to attract strong FDI flows, promoting the development of key economic sectors such as tourism, real estate, retail and services.

Experience from Da Nang, the host of APEC 2017, shows that international events have a great impact on the city's economic development. Da Nang welcomed about 15,000 attendees and 6,000 international reporters, thereby attracting more than 4 billion USD in committed investment capital after the event. In 2018, all 9 key economic indicators grew well. In particular, tourism clearly demonstrated its role as a spearhead economic sector with the number of domestic and international tourists growing by double digits, recording total revenue from tourism activities of about 24,000 billion VND, an increase of 23.3% compared to 2017. Compared to Da Nang at that time, Phu Quoc now has a more solid foundation and is especially facing new opportunities in the era of national development.

Every day, Phu Quoc welcomes more than 30 international flights from Korea, Thailand, Taiwan and European countries... estimated at 10,000-11,000 international visitors/day.

Accelerate infrastructure upgrade plan

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 of up to VND428,000 billion, including super entertainment and resort complexes that are highly competitive in the region. However, Phu Quoc's vision goes further, with plans to upgrade ports and international airports to expand the capacity to receive international ships, commercial flights and private jets. At the same time, strategic routes are also on the roadmap to be built, ensuring convenient connections from the airport to key areas and prominent tourist areas of the island.

Chairman of Phu Quoc City People's Committee, Mr. Tran Minh Khoa, said: "Currently, Phu Quoc welcomes more than 30 international flights every day, with about 10,000 - 11,000 international visitors. Duong Dong International Passenger Port has been invested for a long time, and we are completing the documents to complete and recognize this port as meeting international standards, helping international tourist ships dock directly, without having to go through a berth or transit. We are closely coordinating with the provincial departments, branches and the Vietnam Maritime Administration to soon put the port into official operation, expected at the earliest by the end of February 2025."

In addition, in the past year, many key projects, conference centers and high-end resorts have also been accelerated to meet the needs of high-end guests, targeting delegates and tourists during and after the APEC event. Typically, at the end of December 2024, Sun Group Corporation started construction on the Aspira Tower project in Hon Thom. Expected to be completed in 2027, the project will become a luxury resort - entertainment - commercial complex including The Luxury Collection Hon Thom hotel, with the expectation of not only meeting the needs of entertainment and meetings but also becoming a new symbol attracting millions of tourists each year to Hon Thom, Phu Quoc.

Breakthrough opportunity for tourism industry

In addition, Phu Quoc is currently a bright spot in attracting international tourists, with nearly 1 million international visitors in 2024 and a vertical growth chart of international flights, up to 5-6 times in just one year.

After APEC, the image of Da Nang tourism spread widely around the world, with the impression of safety, dynamism and modernity. Phu Quoc, with its advantages of beautiful natural landscapes, visa exemption policy and modern infrastructure, high-end tourism products with great competitiveness in the region, is forecast to reap similar success, continuing to attract a large number of international visitors after APEC 2027.

New infrastructure and products are continuously invested in, contributing to making Phu Quoc a destination for international events.

Associate Professor Dr. Pham Trung Luong, former Deputy Director of the Vietnam Institute for Tourism Development Research, commented 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 typical natural elements, will make a big difference for Phu Quoc. Cultural and entertainment products have been making a difference. International-class shows such as "Kiss of the Sea" and "Ocean Symphony" have created an impression to attract tourists. Iconic works such as Cau Hon have further helped Phu Quoc affirm itself as an international-class tourist destination.

Mr. Le Van Du, Permanent Vice President of G7 Travel Association affirmed: "With complete infrastructure, tourism ecosystem and convenient accessibility, Phu Quoc will become a place to organize 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 enterprises in the fields of trade, services and tourism, Phu Quoc can expect a strong transformation in these areas. Domestic and foreign investors and enterprises will have more confidence in the sustainable development of the Pearl Island, especially in the context of continuously implementing preferential policies and reforms.

APEC 2027 will certainly be an "explosive performance", lighting up Phu Quoc and acting as a lever, contributing to making the Pearl Island become the leading economic, tourism and service center in the region in the future.

Source: https://kinhtedothi.vn/phu-quoc-duoc-gi-khi-tro-thanh-diem-to-chuc-apec-2027.html