No new developments have been recorded in the 3 projects proposed by Hoa Phat Group.

Phu Yen is focusing on resolving existing problems and difficulties related to previous projects to create favorable conditions for Hoa Phat Group to complete procedures to invest in 3 projects.

Phu Yen: Removing obstacles to complete procedures for 3 Hoa Phat projects

Phu Yen is focusing on resolving existing problems and difficulties related to previous projects to create favorable conditions for Hoa Phat Group to complete procedures to invest in 3 projects.

The planned area for construction of Bai Goc Port in Dong Hoa town.

Regarding the three projects proposed for investment by Hoa Phat Group, a representative of the Phu Yen Economic Zone Management Board said there is still no “new information”.

Meanwhile, recently, the People's Committee of Phu Yen province also mentioned "focusing on resolving existing problems and difficulties related to previous projects to create favorable conditions for Hoa Phat Group to complete procedures to invest in 3 projects in Hoa Tam Industrial Park and Bai Goc Port to soon start construction, complete investment, and create a breakthrough in the province's socio-economic development".

Along with that, the province is also coordinating research to establish a detailed plan for Phu Yen Seaport, focusing on Bai Goc Port Area, Dong Hoa town.

At the Conference to announce the Phu Yen Provincial Planning and promote investment on March 3, 2024, the People's Committee of Phu Yen province awarded an investment memorandum to Hoa Phat Group Joint Stock Company for 3 projects including Bai Goc Port Project (estimated at about 24,000 billion VND); Hoa Tam Industrial Park Infrastructure Investment and Business Project (about 13,300 billion VND); Hoa Phat Iron and Steel Complex Project in Hoa Tam Industrial Park (about 86,000 billion VND).

According to the People's Committee of Phu Yen province, in recent times, the provincial leaders have organized delegations to promote investment, trade and tourism in many countries such as the Netherlands - Germany, Japan, Korea; received and worked with many large corporations and investors to attract investment in the province such as Kanoria Group (India), SK Group (Korea), Becamex Group, Minh Thach D&L Green Hydro Joint Stock Company, PDSI Group,...

Regarding investment attraction, in the first 9 months of 2024, Phu Yen province approved investment policies and granted investment certificates to 14 investment projects with a total registered capital of VND 2,811,072 billion; adjusted investment policies for 24 projects and terminated the operation of 1 non-budget project.

However, Phu Yen recorded a total investment capital realized in the province of VND15,615.7 billion, down 7.5% over the same period. One of the reasons is that investment capital of non-state organizations and enterprises decreased sharply (down 31.7%).

At the same time, the implementation of public investment projects in the province still faces many difficulties and obstacles, especially in site clearance compensation. The People's Committee of Phu Yen province identified this as a major bottleneck, affecting the progress of implementation and capital disbursement of the project (the disbursement value of the 2024 public investment plan as of September 30, 2024 is 1,195,031 billion VND, equal to 28.46% of the capital plan assigned by the province and 26.46% of the capital plan assigned by the central government).

In addition, Phu Yen also recorded a shortfall in land use fee revenue, which affected the progress of project implementation and capital disbursement. Therefore, the province had to adjust the 2024 public investment plan by reducing land use fee revenue by VND490 billion and adding VND155 billion in revenue to save on expenditure.

Phu Yen is focusing on resolving existing problems and difficulties related to previous projects to create favorable conditions for Hoa Phat Group to complete procedures to invest in 3 projects.

Comment (0)