On July 29, at the Kien Giang Investment Promotion Conference 2019 with the theme "Kien Giang - Potential, investment opportunities and sustainable development", Prime Minister Nguyen Xuan Phuc and more than 500 delegates are leaders of Ministries, central government, localities in the Mekong Delta, international visitors, foreign promotion organizations in Vietnam.

At the conference, the provincial People's Committee granted investment guidelines and memorandums of understanding to investors of more than 10 billion USDs, including investment licenses for about 2 billion USDs in various fields. Especially, there is a Free-trade Zone project of Imex Pan Pacific Group (IPPG) with a total investment is 6,830 billion VND.

Mr. Pham Vu Hong - Chairman of Kien Giang Province People’s Committee and IPPG Chairman – Mr. Johnathan Hanh Nguyen signed a cooperation on construction and investment in Phu Quoc, Kien Giang

According to the Prime Minister, Kien Giang is changing every day, bringing in its desire to become a rich and comprehensive province, playing an important role in the overall marine economic strategy of the country. Not only Phu Quoc island - a prominent place of ASEAN, but also Kien Giang has full potential, the advantage of becoming a pearl shining on the Gulf of Thailand, has a unique attraction for tourists and worldwide investors. Over the years, Kien Giang's economic development has been comprehensive. "We are very happy that domestic investors have rolled up to do business in Vietnam," the Prime Minister emphasized.

IPPG is one of the key investors of the Phu Quoc Free-trade Zone project

Also at the conference, Chairman of Kien Giang Provincial People's Committee - Mr. Pham Vu Hong and IPPG Chairman - Mr. Johnathan Hanh Nguyen signed a cooperation on construction and investment in Phu Quoc, Kien Giang. The Phu Quoc free-trade zone project is expected to include 12 main categories. With a scale of up to 101 ha, Phu Quoc free-trade zone will be planned for development including free-trade zone (hard fences), commercial and service areas ... outside the free-trade zone, including factory outlet, duty-free supermarket area, duty-free shops, commercial and catering services (F&B), entertainment area, and other categories and infrastructure.

The idea of ​​Free-trade Zone in Phu Quoc, Kien Giang

In particular, Factory Outlet is a business type that has been developed and succeeded in developed countries in the world such as the US, Europe, Korea, Japan ... IPPG currently has the advantage of holding more than 100 international brands along to build a shopping area with open space and diversified goods. Factory Outlet will be the main destination to attract domestic and foreign tourists to Phu Quoc. This is also the business type that Phu Quoc needs for tourists to combine resting, playing, eating and spending high-value goods, shopping and tourism as popular in developed countries around the world. The investment in the free-trade zone of IPPG will contribute to attracting and retaining visitors stay longer, bringing in more foreign currency revenue as well as solving jobs and increasing income for workers at local, meet the immediate development needs as well as the future of Phu Quoc.

IPPG expects this will be a strategic step contributing to developing the potential and economic advantages of Phu Quoc in Kien Giang province in particular and Vietnam in general. Currently, IPPG is one of the leading multi-industry corporations, an exclusive retailer/distributor of over 100 top-world brands, an investor of luxury shopping malls and an owner of over 1,000 high-end retail stores. Besides that, IPPG one of the investors of Cam Ranh International Terminal and duty-free stores at major airports all over Vietnam. Every year, IPPG pays 1,950 billion VND to national budget for tax and creates 25,000 jobs.