Phu Quoc district gained worldwide popularity after opening an international airport in 2012 and has been implementing a 30-day visa-free policy for foreigners since 2014.
In December 2020, the National Assembly Standing Committee passed a resolution establishing Phu Quoc city from March 1, becoming the first island city in Vietnam. It will be developed in two phases. Phase 1 focuses on building a city to quickly meet the basic criteria of a Grade 1 urban area. In the second phase, Phu Quoc city will be developed into a regional integrated centre.
By 2025, it strives to achieve total fishery output of 201,000 tons per year, with State budget revenue increasing 11.7% each year on average. It also aims to welcome 10 million tourists, up 15% per year, 4 million of which will be foreigners. The rate of poor households is to be under 1%.
Phu Quoc city now have a population of over 179,000 people, with nine commune-level administrative units. It will include two wards, namely Duong Dong and An Thoi, and seven communes including Ham Ninh, Duong To, Ganh Dau, Bai Thom, Cua Duong, Can Can, and Tho Chau.
Duong Dong Town with a population of 60,415 will become the city's Duong Dong Ward. An Thoi Ward will be established by merging Hon Thom Commune with An Thoi Town. Duong Dong is the island's economic, political, cultural, and social center while An Thoi serves as its marine transport hub.
A huge amount of capital has been injected into Phu Quoc city for years, most of which comes from strategic investors like Vingroup, Sun Group, BIM Group, and CEO Group.