The People’s Council of southern An Giang province has approved a proposal to recognize Phu Quoc island as a Special Economic Zone, with the goal of attracting approximately VND195 trillion ($7.6 billion) in total social investment during the 2026-2030 period.
According to the proposal, the area proposed for recognition encompasses the entire administrative boundary of the Phu Quoc special administrative unit, covering a total natural area of 575.29 sq.km, excluding the Tho Chau special administrative unit. As of December 31, 2025, the island had a population of 179,060 people, including 127,739 permanent residents and 51,321 temporary residents.
Regarding eligibility criteria, Vice Chairman of the Provincial People's Committee Le Trung Ho stated that Phu Quoc currently satisfies all three groups of criteria stipulated under Article 3 of Government Decree No. 378/2026/ND-CP.
Specifically, the island meets requirements relating to its strategic location and socio-economic development orientation associated with national defense and security. It possesses either an international airport or a Class I seaport; and it has a relatively independent and easily managed geographical space while meeting the prescribed population and land-area thresholds.
According to the proposal, the recognition of Phu Quoc as a Special Economic Zone will help improve governance efficiency, attract investment, promote tourism and service-sector development, and strengthen connectivity with other localities within the province and across the Mekong Delta region.
However, the proposal also identifies a number of challenges facing Phu Quoc, including pressures on population growth, housing, infrastructure, public finances, natural resources, the environment, and the need to ensure national defense and security. To address these issues, a range of measures aimed at mobilizing resources and promoting sustainable development have been proposed to meet future development needs.
Under the development strategy, Phu Quoc is envisioned as an internationally competitive center for marine eco-tourism and services, supported by trade, logistics, and marine economic industries, while also improving residents' quality of life.
 
Source: en.vneconomy.vn/an-giang-approves-plan-to-designate-phu-quoc-as-a-special-economic-zone.htm