(VOVworld) – A special mechanism making Phu Quoc island an administrative-economic unit topped a working session on Tuesday of the Party Central Committee’s Economic Commission and the authorities of Vietnam’s southwestern region, Kien Giang province, and Phu Quoc district. Situated in the centre of Southeast Asia, Phu Quoc has advantages in marine and air transportation for countries around the region and beyond. It also holds a strategic position in national defence and security.

A fishing farm on Phu Quoc island. (Photo: VNA)

The Prime Minister in 2010 approved the revised master development plan for Phu Quoc until 2030. Under this plan, Phu Quoc island will become a special administrative-economic zone by 2020 as a national and international hi-end ecotourism and entertainment centre, a regional financial hub, and a specialized science research and eco-diversity preservation centre. The island has posted an annual economic growth rate of 24.5% over 8 years, and has attracted 206 investment projects.