The southern coastal province of Ba Ria-Vung Tau has withdrawn the investment licences of eight projects since the start of this year, mostly port and warehouse ones, worth 71.5 million USD.

Investors of these projects were urged to start construction but they failed to comply.

According to the provincial Department of Planning and Investment, local authorities will hold meetings with investors to enquire about the difficulties facing businesses as well as their expectations so as to take measures to support them.

However, the province will take back licences from projects that their investors are unable to carry out.

Ba Ria-Vung Tau province has granted investment licences to seven new local projects so far this year. It has set a target of permitting 17 domestic projects to be constructed in 2014.

In 2013, the province attracted 13 FDI projects worth 217 million USD and 29 others invested by local businesses worth 14 trillion VND (666.6 million USD).-VNA