The People’s Committee of southern Kien Giang Province has granted  an  investment decision for investors of three major APEC-related projects.

Sun Group’s subsidiary, Sun Airport Corporation, was officially approved as the investor of the Phu Quoc International Airport expansion project. The upgrade aims to meet the operational timeline for APEC 2027 while also supporting Phu Quoc Island’s long-term development goals.

The project has a total investment capital of nearly VND22 trillion ($839 million), and will be implemented over two phases from 2025 to 2027, and from 2027 to 2030. The upgrade will enable the airport to serve 18 million passengers per year.

The other project is the construction of an urban complex which will consist of both conference centers and hotels to serve the APEC summit. It will be invested by Sun Phu Quoc Ltd.Co., with an estimated investment capital of VND64 trillion ($2.44 billion). It will be implemented from 2025 to 2027.

The Sun Phu Quoc Company is also licensed to invest in building an eco-tourism and urban complex with an investment capital of VND5.55 trillion ($2.11 billion). The project, implemented from 2025 to 2027, will develop a luxury tourism site to service diplomatic events.