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Delays lead to revocation of projects

Update: May, 15/2014 - 09:05

PHU YEN (VNS) — The central province has revoked four investment projects due to delayed commencement since early this year, the provincial department of planning and investment reported.

A total capital of VND580 billion (US$28 million) was registered for the projects—restaurant and resort; luxury apartment complex; rubber plantation project; and the Golden Sun tourism site.

The department noted that the investors have delayed either the schedule of construction or land clearance procedure.

Last year, the department also revoked nine investment projects, with a total capital of VND1.2 trillion (over $57 million).

According to the department, the province will withdraw slowly commencing or ineffective projects to make room for other investors and developments. — VNS

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