Businesses wait for obstacles to be resolved
In addition to the problems at the Phu Vinh Industrial Park project, Phu Vinh Infrastructure Construction Investment Joint Stock Company is also stuck at the Phu Vinh Commercial Service Urban Area, located in the Vung Ang Economic Zone ( Ha Tinh ). According to the decision approving the detailed planning and the granted Investment Certificate (IRC), the project has a residential land purpose, but the land allocation and lease does not have a residential land purpose. In addition, the issuance of the IRC is also inappropriate because there is no bidding to select an investor or to appoint an investor in the case of only one investor according to the Government's regulations.
FHS Ha Tinh is currently the largest project in the province but there are still problems related to investment procedures.
Up to now, the entire project land area has been allocated and the investor has paid the land rent for a period of 50 years with an amount of more than 33 billion VND. Currently, the project is being resolved by either cutting the residential land area for auction, bidding according to regulations or assigning a comprehensive inspection of the project and then implementing according to the Inspection Conclusion. On the investor's side, since March 25, 2024, this enterprise has issued a document stating that the project has been implemented since 2010 but up to now cannot continue to be implemented due to obstacles caused by current legal regulations.
The enterprise agreed with the proposal to cut an area of about 93,000m2 to organize an auction and bid to select an investor, but it must determine and calculate compensation for the company related to the land clearance fee and land rent paid. According to the report of the problem-solving team, although this plan received the consensus of the investor, it is necessary to handle financial issues and make adjustments and updates to the planning to ensure conditions for implementing the housing project.
Similarly, for Phu Vinh Industrial Park, currently 7 secondary projects have leased land in the Industrial Park in accordance with the provisions of the Land Law, and have been granted investment certificates by the Ha Tinh Economic Zone Management Board. Of which, currently two secondary investors, LIRR Company and Khanh Dieu Company, are adjusting their projects; some other secondary investors are applying for investment certificates in Phu Vinh Industrial Park, but due to incomplete legal procedures of the Industrial Park, they cannot do so. According to the investor, if the project is not adjusted or investment certificates are not granted, secondary investors will not be able to implement the project, affecting the general investment environment and wasting the investor's resources.
In documents sent to Ha Tinh authorities, Mr. Chang Feng Ming, General Director of Phu Vinh Company, affirmed that the company is currently under great pressure to resolve procedures for granting investment certificates to secondary investors. If not considered, secondary investors will withdraw to other places to rent land, greatly affecting the business situation and causing great financial losses and risks of stopping operations for Phu Vinh Company; at the same time affecting the investment environment of the province. Mr. Chang Feng Ming requested that Ha Tinh province create conditions for synchronously resolving procedures for granting investment certificates to secondary projects while waiting for the completion of legal procedures of Phu Vinh Industrial Park, but this proposal has not been considered for approval.
At the Formosa Ha Tinh Steel and Port Complex (FHS Ha Tinh), the project item of Investment in construction and business of specialized industrial park infrastructure with an area of 199 hectares, which was granted the 15th Investment Certificate by the Ha Tinh Provincial Economic Zone Management Board to adjust and supplement the goal of building an auxiliary processing area, is an act of "breaking the fence", not following the correct order, procedures and authority when not yet implementing the procedure of approving the policy of the Prime Minister .
To resolve the issue, for many years now, Ha Tinh province has instructed FHS Ha Tinh to prepare a project adjustment dossier to send to the Ministry of Planning and Investment (now the Ministry of Finance ) for appraisal and submit to the Prime Minister for consideration and approval. At the same time, the Provincial Economic Zone Management Board issued an adjustment to the Investment Certificate (19th time) in the direction of reducing the land use scale of 199 hectares of the Auxiliary Processing Zone; handling procedures related to the voluntary return of land for 199 hectares for recovery, adjusting the land lease decision and land lease contract.
The most important step is to request approval to adjust the Master Plan for the construction of Vung Ang Economic Zone to add the specialized industrial park of FHS Ha Tinh Company to the Master Plan for the construction of Vung Ang Economic Zone. However, Ha Tinh has not yet determined the specific time for completion because it depends on the processing of the Central agencies.
Need to have sanctions soon to help businesses
Many businesses investing in Ha Tinh said that they were given the red carpet treatment, but when problems arose during the implementation process, they were not supported or resolved promptly. Some projects were even held responsible for violations during the construction process and had to pay huge fines, while the major fault was the local government. For example, regarding the unified issuance of land rental prices, Ha Tinh province has not yet issued a unit price for businesses to pay for land rental, many businesses have carried out construction projects and have been inspected and fined.
Including the Bac Pho Chau 1 Urban Residential Area project in Huong Son district of Hano-Vid Real Estate JSC, with a total investment of 799 billion VND. Because the land price could not be issued, this enterprise has not been allocated land but has already started construction. After inspection, the People's Committee of Ha Tinh province issued decisions to impose fines for land occupation and other violations, with a total amount of more than 3.9 billion VND.
Most recently, Mr. Nguyen Trong Ngoc, General Director of Giang Nam Petroleum Company Limited (Hai Phong City) also submitted a request to return the land area planned to be rented to build a combined office and Giang Nam petroleum store in Thach Trung Ward (Ha Tinh City) after many years of waiting for valuation to pay land rent. Accordingly, the project has a total investment of 45.5 billion VND, on an area of more than 9,000 m2, but with the annual rental valuation of more than 19.5 million VND/m2 (equivalent to more than 8.5 billion VND) is too high compared to the general level of Ha Tinh province, so this enterprise decided to return the land, despite the fact that the project's documents and procedures have completed the basic steps.
To support businesses in resolving difficulties related to investment attraction, from 2023 to present, Ha Tinh province has established 3 working groups to support the handling of remaining investment projects in the area, including 1 working group headed by the Chairman of the province himself. Up to now, the working groups have only completed handling 3/12 long-standing projects. Most recently, on March 14, 2025, the People's Committee of Ha Tinh province issued a document requesting to focus on handling pending, stuck, and existing investment projects in the province.
Ha Tinh province assigned relevant units and localities to continue to specifically and fully review the projects that are still stuck and existing in the area; agree on a plan to divide the projects into groups to propose a handling method in the direction of allowing the group of works and items that have been built but do not affect the interests of the state, the community, or do not affect the general landscape architecture of the area; or coordinate with relevant units and localities to guide investors to handle and remedy according to regulations for the group of projects with a lesser level of problems and violations.
Source: https://cand.com.vn/the-thao/luan-quan-go-vuong-doanh-nghiep-bat-an-ky-cuoi--i771090/
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