More than ten investors are bidding for the project, which is part of the province’s plan to boost tourism facilities on the southern island off the coast of the Mekong Delta, Suong said at the real estate conference held by the Vietnam Tourism Property Association in Ho Chi Minh City.

While Suong didn’t give more details about the project, Nguyen Ngoc My, president of Vabis Group, which specializes in entertainment services and golf, said specific regulations and plans were needed in order to attract investors to the casino and tourism-complex sector, which was fairly new in Vietnam in general, and altogether foreign to Phu Quoc.

Many local tourists often leave Vietnam to visit casinos in other Southeast Asian countries region, causing serious revenue losses here, My said.

With its 150 kilometers of coast, Phu Quoc aims to become a high class resort island with the capacity to accommodate three million annual tourists by 2020, according to a plan approved by the government last year.

Source: VietNamNet/Thanh Nien