"Cut" 7 "slow-moving" projects in terms of progress

According to news from the People's Committee of Nghe An province, during the 2022 inspection by the Interdisciplinary Inspection Team on the inspection of investment projects in Nghe An province (phase 2), the locality decided to revoke 7 slow-progressing projects in the area.

Nghe An terminates operations of 7 slow-progressing projects.

Accordingly, Nghe An province has decided to revoke 7 projects that are behind schedule, including: Kids Hause International Kindergarten Project invested by Tuoi Tho Education and Entertainment Investment Company Limited in Quan Bau Ward (Vinh City); Precast Concrete Components Factory and Prestressed Concrete Products Expansion Project of Hoa Hiep Company Limited in Nam Giang Commune (Nam Dan District); Construction Materials Business Facility Project of Han Chau Investment, Services and Trade Joint Stock Company in Dien Phuc Commune (Dien Chau District); Restaurant and Hotel Complex Project of Phu Ha An Company Limited in Dong Hieu Commune (Thai Hoa Town); Original Gold Ore Production and Processing Factory Project of A Cuong Mineral Group Joint Stock Company and Do Linh Joint Stock Company in Chau Hanh Commune (Quy Chau District); and finally, Roofing Tile Factory Project (High-tech fired clay) of An Trach Son Company Limited in Thuong Son Industrial Cluster (Do Luong District).

The reasons for the termination of the projects are basically due to the project being behind schedule, the investor has not yet made a deposit to guarantee the project implementation, and has not completed the next procedures to implement the project...

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

The People's Committee of Nghe An province assigned the Department of Planning and Investment to carry out procedures to terminate the above-mentioned projects and revoke the investment certificates/investment registration certificates (if any) in accordance with the provisions of law. At the same time, contact and notify investors about the termination of operations and cancellation of relevant documents for the projects.

Previously, at the end of 2022, the People's Committee of Nghe An province announced a list of projects with land repossessed; investment projects that did not put land into use for 12 consecutive months or were 24 months behind schedule in land use compared to the schedule recorded in the investment project; and projects that were extended. Accordingly, the province has 160 projects that are behind schedule in not putting land into use for 12 consecutive months or are 24 months behind schedule in land use compared to the schedule recorded in the investment project, with a total land area of up to millions of square meters.

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