Thaigroup wants to build $1.3-bln space tourism center in Phu Quoc

Dec 29, 2021Updated May 30, 20251 min read

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 launchpad 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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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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