The Office of the Kien Giang Provincial People’s Committee provided the information on May 19.
With a total investment of more than VND20,100 billion (approximately US$775 million), this marks one of the largest-ever public investment packages for Phu Quoc City.
The funding is aimed at upgrading infrastructure and ensuring the city is well-prepared to host this important international event.
According to the PM’s decision, the central government budget will cover 70 percent of the total investment for key public projects serving APEC 2027, while the remaining will be allocated by the local government budget.
This cost-sharing mechanism will prioritize the projects, including the freshwater reservoir system comprising Cua Can Lake and Duong Dong Lake with a total investment of nearly VND4,000 billion (US$154 million), the APEC Conference Center covering an area of 57 hectares with a total investment of approximately VND1,400 billion (US$54 million), and the first phase of the urban railway line connecting from Phu Quoc Airport to the APEC Conference Center and Provincial Road 973 spanning over 20 kilometers which has a total investment of up to VND9,000 billion (US$347 million) under a PPP (Public-Private Partnership) model.
Additionally, the expansion project of Provincial Road 975 has a length of 20 kilometers and a width of 60 meters with an estimated investment of about VND2,500 billion (US$96.3 million); the urban renovation, digital transformation and smart city development project has a total investment capital of over VND1,400 billion (US$54 million); the APEC Boulevard, a key arterial road approximately three kilometers long and 68 meters wide, is expected to become a symbolic connection for the island city with a total investment of over VND1,800 billion (US$69.3 million), including 50 percent of cost supported by the central government budget and the remaining amount funded jointly by the local government and investors.
The People’s Committee of Kien Giang Province is responsible for proactively reviewing and approving urgent public investment projects, selecting investors through special mechanisms, and organizing expedited bidding procedures if necessary, in order to ensure progress and timely implementation of preparations for the APEC Summit 2027.
The Government has requested Kien Giang Province to take full responsibility for the selection and implementation of the projects strictly adhere to the principles of progress, quality and efficiency.
During the implementation of the projects, the locality must ensure no act of corruption, loss, group interest, or wastefulness.
At the same time, all projects must align with the strategy of sustainable development, preserve the natural landscape, and absolutely not affect national defense and security.
Relevant ministries and agencies, particularly the Ministry of Finance, the Ministry of Construction, and the Ministry of Agriculture and Environment, must closely coordinate with Kien Giang Province in preparation for the APEC Summit 2027.
Among the ministries, the Ministry of Construction and the Airports Corporation of Vietnam (ACV) will coordinate the handover of assets and expedite investment procedures for the expansion project of Phu Quoc International Airport.
The Ministries of Agriculture and Environment will instruct procedures related to forest land conversion and mineral extraction for use in the approved projects.
The Prime Minister has also instructed all ministries and agencies to promptly address administrative procedures and any obstacles, ensuring that all APEC 2027-related projects are implemented according to plans and set targets.
