Can Tho revokes investment license of $68.3m resort project

The Chairman of the People’s Committee of Can Tho has signed a decision to revoke the investment license of Con Son resort project invested by TMS Group.

Con Son island, a famous eco-tourist area of Can Tho City. — Photo laodong.vn

The Chairman of the People’s Committee of Can Tho has signed a decision to revoke the investment license of Con Son resort project invested by TMS Group.

Approved in April 2019, the project has never been put into motion. As the investor has terminated the project, the city’s authority thus issued the revocation decision according to the Law on Investment.

The project, covering 75 hectares in Binh Thuy district with total investment capital of VND1.57 trillion (US$68.3 million), was one the most important projects of Can Tho’s tourism sector in 2019. The tourist site was expected to be developed into a complex of five-star luxury resorts combined with eco-tourism and entertainment services, along with preserving and promoting local cultural identities.

The provincial People’s Committee asked the Department of Investment and Planning and other relevant authorities to carry out necessary procedures to terminate the project in accordance with the Law on Investment. — VNS

 

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