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Long An to revoke licences from long-delayed projects

Update: February, 17/2012 - 11:04

HCM CITY — The Department of Planning and Investment of southern Long An Province plans to ask the provincial People's Committee to revoke the licences of long-delayed projects.

The revoked projects will be transferred to other investors who have sufficient financial competence to carry out their projects.

Phan Thanh Phi, head of the Long An Economic Zone Management Board, said strict management measures by the province had prevented investors from transferring their projects to others.

Investors often do this by either changing capital contributors or through joint-venture contracts or some other kind of cooperation.

According to the department's figure, licences for 34 projects covering a total of more than 12,100ha of land have been revoked since 2009.

Last year, the province cancelled 22 projects with a total area of 1,600ha.

Most delayed and idle projects were located in Duc Hoa, Ben Luc and Can Giuoc districts.

There are 13 projects worth a total investment capital of VND5.2 trillion (US$247.5 million) that have been idle for many years in Ben Luc District.

Similarly, there are dozens of delayed projects in Can Giuoc District.

Besides cancelling long-delayed projects, the province has tried to lure more investment in agricultural, forestry and fishery as well as foodstuff processing industries to take full advantage of its material and labour sources, according to the department.

As for investors, along with investing in garments and textiles, footwear, plastic and engineering industries, many have invested in agro-forestry, fishery and foodstuff processing projects.

Vissan Limited Company, for instance, began construction of a food processing complex in Ben Luc District's Luong Binh Commune late last year.

In the past 20 years, the province was chosen to carry out forest plantation projects by the Government with support of the Japan International Co-operation Agency.

Currently, the province is home to more than 60,000ha of cajeput forest, most of which are now being exploited.

These forests provide great material sources to high-tech agricultural projects, according to Lam Truc Nho, director of Phu An Thanh High Tech Park. — VNS

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