Da Nang will revoke stagnant coastal projects. — Photo kinhtedothi.vn

Central Da Nang City will revoke coastal projects under stagnant implementation if developers fail to resume construction as committed.

Secretary of the Da Nang Party Committee Nguyen Xuan 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, following the established laws.

Statistics of the People’s Committee showed there were 50 coastal projects in the city, 13 of which were foreign-invested.

Among them, eight projects were under stagnant implementation and 16 had not been implemented.

Developers of 14 stagnant projects signed commitments to resume construction within 24 months.

Nguyen Nho Trung, deputy chairman of the municipal People’s Council, said slow land clearance was among the reasons for slow progress. — VNS