Phu Quoc Economic Zone management board established
The People's Committee of southern Kien Giang province has announced the Prime Minister's decision to establish the Phu Quoc Economic Zone management board.
Phu Quoc Economic Zone management board has been established in Kien Giang province. (Source: vneconomy.vn)
HCM City (VNA)💦 - The People's Committee of southern Kien Giang province has announced the Prime Minister's decision to establish the Phu Quoc Economic Zone management board.
Under the decision, the board will be managed by the committee, performing the functions of state management for the Phu Quoc Economic Zone.
The board will provide public and other support services related to investment and production activities in the economic zone.
Nguyen Thong Nhat, former deputy head of the Management Board for Investment and Development of Phu Quoc Island, will be the head of the board.
The provincial People's Committee's Chairman Pham Vu Hong asked agencies to help the island deal with ground compensation and clearance in an aim to hasten land transfer.
Phu Quoc is facing a budget deficiency and a shortage in space for resident's resettlement.
The 59ha economic zone, established in 2013, includes an industrial area, and urban and residential areas as well as an administrative area, covering the entire area of Phu Quoc island district.-VNA
The Mekong Delta province of Kien Giang has granted investment certificates to 20 new projects looking to develop Phu Quoc Island in 2014, raising the total number in the area to 194.
The southern province of Kien Giang should develop tourism as its local economic spearhead, while cooperating with other localities in the Mekong Delta in socio-economic development.
The presence of large investors like Vingroup and Sungroup on Kien Giang province’s Phu Quoc Island is expected to increase the investment flow into the “pearl island”.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Phu Quoc Economic Zone management board has been established in Kien Giang province. (Source: vneconomy.vn)
