Authorities in central Ha Tinh Province have terminated eight delayed investment projects in the Vung Ang Economic Zone since the beginning of the year as part of efforts to improve investment efficiency and free up land resources for new developments.
According to the Ha Tinh Economic Zone Management Board, the projects include four domestically funded ventures with total registered capital exceeding VND497 billion ($18.89 million) and four foreign direct investment (FDI) projects with combined registered capital of more than $18.6 million.
Provincial authorities said many of the affected projects had encountered financial difficulties, undergone changes in business strategy, or were no longer able to proceed in line with their original investment commitments.
For projects that remain viable, authorities are focusing on removing obstacles, assisting investors with administrative procedures and accelerating implementation. However, projects deemed incapable of moving forward, found to be in breach of investment commitments, or leaving land unused for extended periods will be handled in accordance with regulations.
Officials stressed that the termination of so-called “suspended” projects does not undermine Ha Tinh’s investment attractiveness. Instead, it is viewed as a necessary step to optimize land use, improve the investment environment and create opportunities for capable investors to develop new projects.
The reclaimed land resources are expected to strengthen the province’s ability to attract high-tech, environmentally friendly and high-value-added investment projects in the future.
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