Cần Thơ revokes investment license of $68.3m resort project

September 10, 2021 - 08:50

People’s Committee of Cần Thơ has signed a decision to revoke the investment license of Cồn Sơn resort project invested by TMS Group.

Cồn Sơn island, a famous eco-tourist area of Cần Thơ City. — Photo laodong.vn

HÀ NỘI — The Chairman of the People’s Committee of Cần Thơ has signed a decision to revoke the investment license of Cồn Sơn resort project invested by TMS Group.

Approved in April 2019, the project has never been put into motion. As the investor has terminated the project, the city’s authority thus issued the revocation decision according to the Law on Investment.

The project, covering 75 hectares in Bình Thủy district with total investment capital of VNĐ1.57 trillion (US$68.3 million), was one the most important projects of Cần Thơ’s tourism sector in 2019. The tourist site was expected to be developed into a complex of five-star luxury resorts combined with eco-tourism and entertainment services, along with preserving and promoting local cultural identities.

The provincial People’s Committee asked the Department of Investment and Planning and other relevant authorities to carry out necessary procedures to terminate the project in accordance with the Law on Investment. — VNS

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