Hung Yen revokes licenses from 14 delayed projects

Monday, Nov 26, 2018 16:44

Hung Yen Province will revoke licenses of delayed projects in accordance with the law on investment. — Photo

The northern province of Hung Yen’s Department of Planning and Investment has asked the provincial People’s Committee to revoke the investment licences from 14 projects due to excessive delays.

All 14 projects were granted investment certificates from 2008 to 2014, but have failed to be put into operation.

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 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.

Hung Yen Province’s People’s Committee chairman Nguyen Van Phong asked the licence withdrawal procedures to be accordance with the law on investment. The province would reissue the licences to more qualified investors, he said. — VNS

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