Vietnam’s Revised Plans for the Next Macau

Phu Quoc, the Vietnamese island in the Gulf of Thailand that some developers envision as Vietnam’s version of the Asian gambling mecca Macau, has announced plans for a 300-acre international tourism complex including five-star hotels, convention centers and casinos.

Phu Quoc hopes to attract foreign investors willing to commit $4 billion in the complex that would include as many as 3,000 hotel rooms.  Meanwhile, the government has revoked licences granted to three investment projects on the island — two resorts by Vietnames companies and an aviation trading center planned by Vietnam Airlines — because they no longer fit the masterplan and failed financial tests.

Phu Quoc is Vietnam’s biggest island and is developing transportation infrastructure needed to be a resort of choice for Southeast Asian travelers.

More on Vietnam’s plans for Phu Quoc Island

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