Phu Quoc’s Development Potential as Host of APEC 2027
Hosting the Asia-Pacific Economic Cooperation (APEC) 2027 presents a significant opportunity for Phu Quoc to enhance its urban infrastructure, attract investment, and boost tourism and real estate development.
Infrastructure Development Boost
Following Hanoi (2006) and Da Nang (2017), Phu Quoc will become the next Vietnamese city to host the APEC Summit, marking a key milestone in Vietnam’s international economic integration. Under the theme “Connectivity, Building Inclusive and Resilient Economies”, APEC 2027 will not only elevate Vietnam’s global standing but also position Phu Quoc as a regional hub for economic cooperation and trade.
With thousands of delegates, high-ranking leaders, and business executives from 21 member economies expected to attend, Phu Quoc will have an excellent opportunity to attract foreign direct investment (FDI), especially in tourism, real estate, retail, and services. The experience of APEC 2017 in Da Nang demonstrated the event’s impact, helping the city secure over $4 billion in investment commitments, with tourism revenue surging to 24 trillion VND the following year.
In preparation for the event, Phu Quoc has been implementing numerous major infrastructure projects. Currently, the city has 311 projects with a total investment exceeding 400 trillion VND, including large-scale entertainment and resort complexes. The local government is also upgrading ports and airports to accommodate more commercial and international charter flights, while key road networks are being planned to seamlessly connect the airport with major tourist destinations.
Trần Minh Khoa, Chairman of Phu Quoc City People’s Committee, stated that Phu Quoc currently receives around 30 international flights per day, equivalent to 10,000-11,000 passengers. Additionally, Duong Dong International Passenger Port is in the final stages of certification to meet international standards, allowing it to welcome cruise ships without requiring transshipment. The port is expected to officially operate by late February 2025.
Beyond transportation infrastructure, luxury resorts and convention centers are also being developed. In December 2024, Sun Group broke ground on Aspira Tower - Khát Vọng Tower in Hon Thom. Expected to be completed by 2027, this high-end complex will feature resort, entertainment, and commercial facilities, catering to international visitors during and after APEC 2027.
Boosting Tourism and Real Estate
In 2024, Phu Quoc welcomed nearly one million international tourists, with a sharp increase in flights to the island. This growth is expected to continue before and after APEC 2027, as infrastructure improvements and expanded visa exemptions take effect.
Lê Văn Dũ, Vice Chairman of the G7 Travel Association, noted that Phu Quoc has a diverse tourism ecosystem, making it ideal for hosting international events. Meanwhile, Assoc. Prof. Dr. Phạm Trung Lương, former Deputy Director of the Vietnam Institute for Tourism Development Research, stated that Phu Quoc has the potential to compete with major regional destinations like Phuket (Thailand) and Bali (Indonesia). However, this will depend on the development of new tourism products and the preservation of the island’s natural beauty.
Cultural and entertainment attractions such as “The Kiss of the Ocean”, “The Symphony of the Sea”, and landmark structures like the Kiss Bridge further reinforce Phu Quoc’s reputation as a high-end tourist destination.
Investment Opportunities and Sustainable Development
Beyond diplomacy, APEC 2027 will create a favorable environment for expanding economic cooperation and attracting international investment to Phu Quoc. The presence of leading global corporations in trade, services, and tourism will contribute to sustainable development and strengthen the island’s position on the regional economic map.
With its vast potential, Phu Quoc is on the verge of transforming into a world-class tourism, economic, and financial hub in the near future.