Seven projects with extremely slow progress have been terminated.

According to information from the People's Committee of Nghe An province, during the 2022 inter-agency inspection of investment projects in Nghe An province (phase 2), the locality decided to revoke the licenses of 7 projects that were behind schedule.

Nghe An province terminates operations of 7 slow-progressing projects.

Accordingly, Nghe An province has decided to revoke the licenses of 7 slow-progressing projects, including: the Kids Hause International Kindergarten project invested by Tuoi Tho Education and Entertainment Investment Co., Ltd. in Quan Bau ward (Vinh City); the expansion project of the Precast Concrete Components and Prestressed Concrete Products Factory of Hoa Hiep Co., Ltd. in Nam Giang commune (Nam Dan district); the construction materials business project of Han Chau Investment, Service and Trade Joint Stock Company in Dien Phuc commune (Dien Chau district); the restaurant and hotel complex project of Phu Ha An Co., Ltd. in Dong Hieu commune (Thai Hoa town); the gold ore production and processing plant project of A Cuong Mineral Group Joint Stock Company and Do Linh Joint Stock Company in Chau Hanh commune (Quy Chau district); and finally, the high-tech fired clay roof tile factory project of An Trach Son Co., Ltd. in Thuong Son Industrial Cluster (Do Luong district).

The reasons for terminating these projects are basically due to project delays, investors failing to deposit the required security funds, and not completing the necessary procedures for project implementation.

Currently, Nghe An province still has hundreds of projects that are behind schedule.

The People's Committee of Nghe An province has assigned the Department of Planning and Investment to carry out the procedures for terminating the aforementioned projects, revoking investment certificates/investment registration certificates (if any) in accordance with the law. Simultaneously, they are to contact and inform the investors about the termination of operations and the cancellation of related documents for these projects.

Previously, at the end of 2022, the People's Committee of Nghe An province announced a list of projects whose land would be revoked; investment projects that failed to put the land into use for 12 consecutive months or were 24 months behind schedule compared to the schedule stated in the investment project; and projects that were granted extensions. Accordingly, the province had 160 projects that were behind schedule, failing to put the land into use for 12 consecutive months or being 24 months behind schedule compared to the schedule stated in the investment project, with a total land area reaching millions of square meters.

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