Tourists visit My Son Sangtuary, a world cultural heritage in central Quang Nam Province. The implementation of the $200 million My Son complex near this area will be postponed due to procedure delay. — Photo mysonsanctuary.com.vn

QUANG NAM (Biz Hub) — The implementation of the VND4.2-trillion (US$200 million) My Son complex in this central province will be postponed due to the delay by investors in completing the necessary procedures.

Provincial People's Committee Vice Chairman Dinh Van Thu made the announcement at a meeting on January 19, specifying that the investor had not yet paid a legally-required deposit needed for a project-progress commitment deal to be signed.

In 2012, the committee had approved in principle the South Quang Nam Investment and Development JSC as the investor of the complex, which is expected to cover an area of more than 1,500ha in Duy Phu Commune in Duy Xuyen District.

The project was slated to become operational by June 2018, after the local authorities adopted a detailed master plan for the complex, which comprises a forest preservation park, a town, a museum, alongside other tourist and commercial units.

Thu said that over the past few months, the company continuously complained to the committee about the obstacles involved in land clearance and compensation as well as land use rates. But the absence of the aforementioned deposit also prevented the concerned parties from proposing a project-downsizing plan. — VNS