Hung Yen revokes licenses from 14 delayed projects
The Department of Planning and Investment in the Red River Delta province of Hung Yen has asked the provincial People’s Committee to revoke investment licences from 14 projects due to excessive delays.
A garment factory in Pho Noi A Industrial Park of Hung Yen province (Photo: VNA)Hung Yen (VNA) - The Department of Planning and Investment in the Red River Delta province of Hung Yen has asked the provincial People’s Committee to revoke investment licences from 14 projects due to excessive delays.
All 14 projects were granted investment certificates in the 2008-2014 period, but they have failed to embark on implementation.
One of the major projects on the list is the Secoin - CDT industrial complex, located in Van Lam district.
The investor was granted a certificate of investment at the end of 2008 to implement a project on an area of over 50,000sq.m. However, the project has failed to complete compensation, ground clearance and procedures for construction and operation.
Similarly, a polyester fiber factory in My Hao district covering over 42,000sq.m was licensed in July 2008. To date, the project has not carried out compensation for ground clearance or started construction.
Other projects that have been suspended include pig farms, a paper packaging and processing plant, a lighting equipment factory and a furniture factory.
Chairman of the provincial People’s Committee Nguyen Van Phong asked the Department of Planning and Investment to complete licence withdrawal procedures in accordance with the law on investment.
The province would reissue licences to more qualified investors, Phong said.-VNA
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