Đà Nẵng will revoke stagnant coastal projects. — Photo kinhtedothi.vn
Viet Nam News
ĐÀ NẴNG — Central Đà Nẵng City will revoke stagnant coastal projects if developers fail to resume construction as committed.
Secretary of the Đà Nẵng Party Committee Nguyễn Xuân Anh said the project would be revoked if the developer failed to implement or resume construction after 24 months from the date the developers signed the commitment.
Statistics of the People’s Committee show there are 50 coastal projects in the city, 13 of which are foreign-invested.
Among them, eight projects are stagnant and 16 have not been implemented yet.
Developers of several stagnant projects signed commitments to resume construction within 24 months.
Nguyễn Nho Trung, deputy chairman of the municipal People’s Council, said slow land clearance was among the reasons for slow progress. — VNS