Private conglomerate Thaigroup plans to build a rocket launch site for space tourism on Phu Quoc Island at a cost of VND30 trillion (US$1.3 billion).
The Thai company’s property development arm Thaiholdings has finalized plans for construction in 2022-26 to help turn Phu Quoc into an international tourism hub.
The launch pad will be the country’s first.
Thaigroup has sought provincial authorities’ permission to survey locations for it.
There is demand for space tourism in Southeast Asia, but the region has no rocket launch facilities, the company said.
In Phu Quoc, Thaigroup is building a resort complex at a cost of over VND9.8 trillion.
Formerly known as Xuan Thanh Group, it operates three cement plants and several hydroelectric plants.
In 2019, Phu Quoc, Vietnam’s largest island, received over five million visitors, including 541,600 foreigners.
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