Vietnam's Phu Quoc Island in Kien Giang Province has attracted 33 projects so far with seven are financed by foreign investors, totalling approximately US$569 million.
Total capitalised is approximately US$1.72 billion to date.
According to Phu Quoc island development investment management limited, the Kien Giang provincial authorities have also approved another 174 projects, including a US$2.89 billion finance-tourism centre, a US$1 billion recreational resort and a US$1.8 billion resort complex.
However, difficulties in site clearance, infrastructure development and poor financial capacity of investors have resulted in slow implementation of the licensed projects.
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