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Infrastructure (Economics)

Phu Quoc Island Accelerates Port Modernisation for APEC 2027 and Regional Maritime Connectivity

Strategic Insights

— 2 min read

Phu Quoc island, located off the coast of Vietnam's An Giang province, is poised to become a significant maritime hub within the country's long-term national development plans. As it gears up for APEC Economic Leaders Week 2027, the island is accelerating efforts to modernise its key ports and terminals, reflecting both immediate development priorities and long-term goals to assert Vietnam's maritime sovereignty and boost regional integration.

Key Takeaways:

  • Phu Quoc island is being positioned as a strategic maritime hub within Vietnam's long-term national development plans, with a vision to transform into a world-class special economic zone.
  • The island's seaport planning encompasses not only passenger and freight capacity but also includes specialised functions such as handling liquid cargo, ferries, and marine tourism, with considerable investment and regulatory coordination involved.
  • A major component of this transformation is the International Passenger Port with a total investment of over 1.6 trillion VND (approximately 65 million USD), which was put into service in February 2024 after nine years of construction.
  • International shipping companies are still awaiting updated digital nautical charts from the United Kingdom Hydrographic Office (UKHO).
  • An Giang province is assuming increasing responsibility for maritime assets, including the formal transfer of An Thoi Port to provincial management in January 2025.
  • The island's construction sector is experiencing strong momentum, especially in preparation for APEC Year 2027, with 321 investment projects within zoned areas, of which 268 are under implementation or awaiting construction.
  • The annual demand for construction materials is projected to reach 7.5 million tonnes, including approximately 5 million tonnes dedicated to APEC-related projects.
  • Temporary ports have gained growing importance, with the Bai Vong area operating five such ports under provisional licences, servicing building material supply and ferry traffic.

Statistics:

  • Phu Quoc island hosts 321 investment projects within zoned areas, of which 268 are under implementation or awaiting construction.
  • The annual demand for construction materials is projected to reach 7.5 million tonnes.
  • The island needs approximately 5 million tonnes of construction materials, with an estimated 4.8 million cubic metres of stone required.
  • The transport of construction materials from the mainland is vital, with inland waterway and marine transport playing a pivotal role in reducing price disparities between the island and the mainland.

Sources:

  • Prime Ministerial Decisions issued in September 2021 and May 2024.
  • Report by the An Giang Department of Construction, cited by Dao Huy Hiep, Deputy Director of the An Giang Department of Construction.
  • Statement by Deputy Minister of Construction Nguyen Xuan Sang during a recent field visit.

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