Friday, October 19 2018

VietNamNews

Hà Tĩnh revokes licenses from six projects

Update: September, 04/2018 - 17:38
An empty plot in the Vũng Áng Economic Zone left by a delayed project. — Photo baodautu.vn
Viet Nam News

HÀ TĨNH — Authorities in the central province of Hà Tĩnh have withdrawn the investment licences from six delayed projects in the Vũng Áng Economic Zone.

 

The projects had a combined value of US$100 million and included one foreign-invested venture.

 

They included a a storage centre for Việt Nam Oil and Gas Group’s Drilling Mud Corporation, a kindergarten project and an apartment project for workers at the Hưng Nghiệp Formosa Steel Corporation.

 

According to Đặng Văn Thành, deputy chairman of the zone’s management unit, investors for three of the projects had asked for their licences to be revoked due to delays caused by capital shortages.

 

Thành said the other three projects had been delayed for years and the investors had ignored warnings from the economic zone. He added that local authorities had tried to stop incompetent investors from gaining access to land in order to create a healthy investment environment.

 

Authorities have withdrawn licences from 38 projects registered in the economic zone since 2009. — VNS

 

Send Us Your Comments:

See also: