Monday, 11 Dec 2017

Authorities revoke licenses of delayed projects

Updated at Thursday, 12 Oct 2017, 10:26
The Hanoitimes - Southern provinces of Ninh Thuan and Dong Nai have revoked licenses of several projects due to the delay in implementing construction of these projects.
The Ninh Thuan Province People’s Committee has revoked licenses of six projects and cancelled investment plans of five other projects in the province.
Vice chairman of the provincial People’s Committee Pham Van Hau said it has established a working team including staff at the departments of Planning and Investment, Natural Resources and Environment, and Agriculture and Rural Development, and leaders of districts to follow progress and address shortcomings of delayed projects.
In addition, the province also undertook inspections to deal with snail-paced works and review reasons for delay of projects.
Ninh Thuan revoked licenses of six delayed projects.
Ninh Thuan revoked licenses of six delayed projects.
By the end of September, Ninh Thuan had 324 projects with total registered capital of more than VND63 trillion (US$2.77 million).
However, a report of the provincial Department of Planning and Investment showed that there were 62 snail-paced projects while another 12 were facing difficulties.
The revoking of licenses of delayed projects has shown the province’s determination to avoid wastage of land resources.
In the same move, Dong Nai authorities have also revoked investment licenses of 418 foreign direct investment (FDI) projects worth more than US$4.8 billion in the first nine months of the year.
The provincial Department of Planning and Investment said the licenses were revoked due to the delay in implementing the construction.
Statistics from the department showed that in the January-September period, the province attracted 139 FDI projects with total capital of $955.5 million. With these impressive results in the nine-month period, the province has met 95.5 per cent of the whole year’s target.
Of the total, 55 FDI projects were granted new investment licenses with total capital of $339.4 million while another 84 current projects added $661 million to their investment. 
Thu Ha Vinh
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