Phu Quoc Island in the Mekong Delta Province of Kien Giang is one of the eight economic zones which will receive the government's funding for its infrastructure development in 2016-2020
The Vietnamese government has identified eight economic zones along the city coastal areas whose development will be a focal point over the next five years.
These economic zones alone will receive 70 percent of the total funding earmarked for all zones across the country each year. The budget will be spent on infrastructure development, the government's website reported on Monday.
The Ministry of Planning and Investment was ordered to work with the Ministry of Finance in making plans to call for investment from the private sector, it said.
Four of the selected economic zones are located in the central region, such as Quang Nam Province's Chu Lai Complex, which will be grouped with Dung Quat in nearby Quang Ngai Province.
Ha Tinh Province's Vung Ang, Phu Yen Province's Nam Phu Yen, and Thanh Hoa Province's Nghi Son are another three targeted areas.
Two of the targets are Hai Phong City's Dinh Vu and Quang Ninh Province's Van Don in the north. The rest are in the Mekong Delta, namely Kien Giang Province's Phu Quoc and Tra Vinh Province's Dinh An.