Vietnam’s $5.2 Billion Phu Quoc APEC Project Falls Behind With 18 Months to 2027 Summit
Updated
Updated · South China Morning Post · May 17
Vietnam’s $5.2 Billion Phu Quoc APEC Project Falls Behind With 18 Months to 2027 Summit
1 articles · Updated · South China Morning Post · May 17
Summary
Eighteen months before the November 2027 APEC summit, Vietnam’s 137 trillion dong ($5.2 billion) Phu Quoc buildout is short of workers, diesel and construction materials.
The delays are visible across key projects: the 18-km boulevard linking the airport to the summit complex remains unfinished, and not a single new hotel room has been added.
The blueprint calls for an airport overhaul, a light-rail line, luxury hotel clusters and a new sewerage system, making the island a high-stakes test of Vietnam’s build-fast development model.
Much of the work is being financed by one of Vietnam’s largest conglomerates in exchange for land, operating concessions and the prestige of delivering a national showcase before world leaders arrive.