Termination of operations of plywood factory project in Dai Loc

The project was approved for investment by the Provincial People's Committee in April 2020. However, through inspection, the project was not implemented on schedule, and the investor did not make a deposit or guarantee the deposit obligation according to the provisions of the law on investment.

The termination of the project is based on Inspection Conclusion No. 01/KL-TTT dated January 9, 2025 of the Provincial Inspectorate, the minutes of the meeting between the competent authorities and the direction in Official Dispatch No. 3417/UBND-KT dated April 25, 2025 of the Provincial People's Committee. This is a violation under Point d, Clause 2, Article 48 of the Investment Law 2020.

Along with terminating the project, the Department of Finance requested Hoang Phuong Bac Group Joint Stock Company to carry out investment liquidation procedures and complete remaining obligations in accordance with regulations.

This move demonstrates Quang Nam province's determination to tighten investment management and thoroughly handle projects that are behind schedule, have been delayed for a long time, causing waste of land and affecting the general investment environment.

Source: https://baoquangnam.vn/cham-dut-hoat-dong-du-an-nha-may-van-ep-tai-dai-loc-3154580.html