Kien Giang (VNA) - Phu Quoc island district continues to deploy synchronoussolutions, creating favourable conditions, supporting investors and enterprisesto implement projects as planned, speeding up construction and contributing tolocal socio-economic development.

This was revealed by the Phu Quoc Economic Zone management board in the southernprovince of Kien Giang.

In particular, the island is concentrating on investment capital to speed upthe construction schedule to complete key infrastructure projects; overcomelimitations and weaknesses in planning management, land, construction,compensation and site clearance; drastically handle disputes, compensation,clearance, resettlement and support for people to have "clean land"for investors to implement the projects.

According to the Phu Quoc Economic Zone management board, investment attractionin Phu Quoc mainly focuses on tourism and marine economic development. Althougha number of projects on the island have been granted investment policydecisions, the implementation of these projects is still slow.

The reasons include the compensation for site clearance, support andresettlement of projects takes a lot of time; disputes and complaints leadingto land handover in the field face many difficulties and problems; coordinationbetween investors and State management agencies is not synchronised, so someprojects are encroached and re-occupied, causing difficulties and shortcomingsin implementing projects in accordance with the plan.

In addition, the source of infrastructure investment capital of the Governmenthas not met the demand for development investment, affecting the constructionprogress of key infrastructure projects compared to the plan. So far, Phu Quochas paid compensation and support to more than 10,897 households, with anamount of over 6.12 trillion VND (261.6 million USD).

The Phu Quoc Economic Zone management board said that to date, Phu Quoc islandhas 299 valid investment projects in planning areas with a total area of10,578ha. Accordingly, 258 projects were granted investment certificates,investment policy decisions, with a total area of 8,893 hectares, totalregistered investment capital of over 270.3 trillion VND (11.9 billion USD),and 41 projects are completing procedures.

Currently, 46 projects have been put into operation on an area of 1,200hectares with a total investment capital of more than 13.47 trillion VND. Theother 41 projects are under construction, covering an area of 3,246ha withtotal investment of 101.3 trillion VND, including six partially operatedprojects, the remaining projects are completing investment procedures.

In addition, up to now, on Phu Quoc island, there are 31 foreign directinvestment (FDI) projects with total registered capital of 293 million USD. - VNA