(HBĐT) - The Department of Planning and Investment issued Decision No. 103/QD-SKHĐT, dated October 9, 2023, on terminating the operation of the Sannam - Hoa Binh Food Technology and Service Park project of Sannam - Hoa Binh Investment Joint Stock Company, located in Thinh Minh commune, Hoa Binh city.
Reason for termination of operation: The investment project is subject to land revocation due to failure to put land into use or delay in putting land into use according to the provisions of the law on land; termination of operation according to Point d, Clause 2, Article 48, Investment Law 2020.
It is known that in 2004, the Provincial People's Committee allowed Sanam Investment Joint Stock Company to implement the project "Sannam - Hoa Binh Food Technology and Service Park". The project has a total investment of 56,550 million VND, the implementation period is from 2004 to 2007. The goal is to build a vegetable and fruit growing and processing area for export using clean technology, combined with eco-tourism development, attracting more than 300 local workers. In 2007, the project started construction but the efficiency was not high. The assigned area was left fallow, the investor had not fully fulfilled its obligations to the State. After many years of not putting the land into use, the project revealed the limitations of the investor, violating the Land Law. Therefore, the Department of Planning and Investment decided to terminate the project.
Khanh An
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