Long An (VNA) – The Mekong Delta province of Long An has recalled licences of41 projects with a combined investment of 71.2 million USD so far this year.
Consistingmostly of manufacturing and housing projects areas, they were cancelled due toreasons like slow progress, investors wanting to cease their projects, andeconomic challenges due to COVID-19.
Huynh Van Son,Director of the provincial Department of Industry and Trade, said they included17 FDI projects.
He told Nguoi Lao Dong newspaper thatwhile scrapping the projects could negatively impact official revenues andjobs, Long An is seeking to “improve the investment climate and createopportunities for other interested investors.”
Officials havebeen instructed to appraise and rescind projects that are behind schedule.
The departmenthas told investors to make periodic reports on their progress.
The provincehas set up an online management system to help investors make regular updates.
Investors alsohave to publicise information about their projects at the project sites, suchas identity, project scale and progress unless they are in industrial parks andclusters.
According tothe People’s Committee, projects that fail to progress on schedule will bescrapped except for those that are eligible for deadline extensions./.
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Favourably located close to the country’s industrial hub of Ho Chi Minh City and with preferential policies for attracting investment, Long An province is a popular destination among investors these days.
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Illustrative photo (Source: nld.com.vn) 
