Russian tourists arrive on Phu Quoc February 14 aboard the first international flight to fly into the island
From March 10 foreign nationals can enter Phu Quoc Island and stay for 30 days, up from the earlier 15.
Investors will also enjoy the highest incentive levels offered by the government for economic, export-processing, and industrial zones.
Kien Giang Province, home to Phu Quoc, hopes to make the island a special administrative-economic zone, a high-end entertainment-tourism center, a financial center, and a transport hub by 2020.
It is forecasted to receive 2-3 million tourists a year by then, with international arrivals accounting for 35-40 percent.
Last year by October -- the period for which figures are available -- around 548,000 tourists visited Phu Quoc, a 27.8 percent year-on-year rise.