Vietnam’s US$5 billion Apec island is running out of time

Ahead of next year’s Apec summit, Vietnam has a grand plan to transform Phu Quoc, its largest island, into Southeast Asia’s leading conference and exhibition hub.The 137 trillion dong (US$5.2 billion) blueprint includes an Airport overhaul, a Light-rail line, clusters of Luxury hotels and a brand-new Sewerage system – much of it paid for by one of the country’s largest conglomerates, in return for tracts of land, operating concessions and the cachet of building national landmarks.But problems are stacking up 18 months before world leaders are set to descend on Phu Quoc for the November 2027 summit.