Long An province revokes licences of tardy investment projects hinh anh 1Illustrative photo (Source: nld.com.vn)

Long An (VNA) – The Mekong Delta province of Long An has recalled licences of 41 projects with a combined investment of 71.2 million USD so far this year.

Consisting mostly of manufacturing and housing projects areas, they were cancelled due to reasons like slow progress, investors wanting to cease their projects, and economic challenges due to COVID-19.

Huynh Van Son, Director of the provincial Department of Industry and Trade, said they included 17 FDI projects.

He told Nguoi Lao Dong newspaper that while scrapping the projects could negatively impact official revenues and jobs, Long An is seeking to “improve the investment climate and create opportunities for other interested investors.”

Officials have been instructed to appraise and rescind projects that are behind schedule.

The department has told investors to make periodic reports on their progress.

The province has set up an online management system to help investors make regular updates.

Investors also have to publicise information about their projects at the project sites, such as identity, project scale and progress unless they are in industrial parks and clusters.

According to the People’s Committee, projects that fail to progress on schedule will be scrapped except for those that are eligible for deadline extensions./.