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  • News
  • News in Vietnam
  • 23 November 2021

The largest non-tariff zone in Vietnam with a total investment of nearly 7,000 billion VND

The Phu Quoc Non-Tariff Zone project is invested by IPPG Group with nearly 7,000 billion VND, with the highlight being the first large-scale discount sales center in Vietnam.

The Management Board of Phu Quoc Economic Zone (Kien Giang Province) has officially granted an Investment Registration Certificate to Lien Pacific Import-Export Company (IPPG Group) to carry out an investment project to build a tax-free zone. Phu Quoc customs office at Bai Vong Hamlet, Ham Ninh Commune (Phu Quoc, Kien Giang).

This project has a total investment of over 6,830 billion VND and is expected to form a non-tariff zone, a commercial, service, entertainment, and living area after being put into operation in 2028. demand for commerce, services, and enjoyment of the people. The project also hopes to create a driving force for socio-economic development for neighboring localities, especially creating jobs for workers during the implementation and completion of the project.

Phu Quoc non-tariff area has a size of 101 hectares, is expected to include 12 main items, with 20 operating objectives such as Discount sales center (Factory Outlet), duty-free supermarket area including many consumer goods used imported from many parts of the world such as Australia, USA, Europe … and high-quality Vietnamese goods, Duty-free shops, Commercial, and foodservice areas with many brands of fast food, cafe bar, famous restaurant, unique indoor and outdoor amusement park unmatched in Vietnam. In addition, there is a 5-star hotel and resort area, an area for trade introduction and promotion, warehouse and goods storage…

Significantly, the Discount Sales Center (Factory Outlet) here is the first large-scale center in Phu Quoc and Vietnam. According to the project proposed by IPPG, that will build this Factory Outlet on an area of ​​14.06 ha, located near Phu Quoc airport with more than 200 booths of famous brands in the world and Vietnam. This will be the place to focus retail stores selling genuine seasonal products (Genuine brand products) with prices 30-80% cheaper than outside brick-and-mortar stores.

Mr. Johnathan Hanh Nguyen, IPPG president, said: “Normally, places around the world that are allowed to open Factory Outlet will be the place to attract a considerable number of domestic and international tourists to shop and stay longer days, spend more shopping, and at the same time support other service industries to develop resonance than tourist destinations without a Factory Outlet push the service tourism industry in particular and the economy in Phu Quoc, in general, to thrive.

(Source: VnExpress)