The Island of Phu Quoc in Vietnam, which some see as Southeast Asia’s potential version of Macau, will invite bids for tourism services by February. Its development board plans to develop high-end services, with estimated land costs approaching $1 million per acre.
Local and foreign investors have been interested in developing a 300-acre prime section of beach, but local authorities have yet to select any investors. The country has a long range plan to make the island a tourism hub. Phu Quoc has 90 miles of coastline, rugged inland jungle, and easy access from Ho Chi Minh City, Singapore, and Thailand.
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