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10 billion USD project to be licensed in Phu Quoc   2008-05-28 - VNA

A project on Phu Quoc island worth 10 billion USD will be licensed in 2008, Deputy Minister of Planning and Investment Truong Van Doan said.

The project, financed by groups of US and Canadian investors, will launch construction of infrastructure facilities and roads linking Phu Quoc island to neighbouring areas.

Once licensed it will become one of the biggest foreign direct investment (FDI) projects in Vietnam.

The Deputy Minister said another US and Canadian 3.5-4 billion USD project will be licensed next May to develop tourism and services in southern coastal Ba Ria-Vung Tau province.

The country has attracted nearly 7.6 billion USD of FDI capital in the first four months of 2008, a year-on-year increase of 41 percent, according to the Ministry of Planning and Investment.

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