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The southern province of Kien Giang has licensed an American company to invest 1 billion USD in a tourism and entertainment complex in Phu Quoc island.
Rockingham Asset Management LLC will develop various projects in tourism, entertainment, sports and health care on an area of 1,000 ha.
This is the first time the province consents to a project with such a large capital.
Due to its unique location and a number of preferential policies, Phu Quoc has become an attractive destination for foreign investors with their seven-figure projects.
As of Dec. 2006, 170 project were registered to invest in the island, including 60 foreign-invested projects. Twelve projects are already operational.
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