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Quang Ninh halts 179 slow projects

Update: December, 15/2012 - 10:05

QUANG NINH (VNS)— The People's Committee of northern Quang Ninh Province has halted 179 investment projects that are progressing too slowly, dragging down the provincial economy.

Of these projects, 65 had their land lease decisions revoked, while the rest came to a complete halt.

Many of the projects were allocated land 9 or 10 years ago but had not used it, according to the provincial Department of Natural Resources and Environment.

The province would ask investors to pay a fee equal to 20 per cent of the project's investment capital next year, and would return the fee in a manner commensurate with progress. — VNS

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