The Yen Bai Provincial People’s Committee has decided to withdraw its decision to issue a license to the Chan - Thien - My company to build a new urban area in the capital of the northern province, Yen Bai city.

The company was to build the Golden House urban area on 88.3 ha and with a population of around 6,500. Total investment was estimated at VND5 trillion ($210 million).

However, Decision No. 133/QD-UBND issued by the provincial People’s Committee on January 20, 2017 was found to not meet legal processes and procedures relating to the land, housing, and real estate business.

The People’s Committee instructed the company to complete related legal procedures after the decision was revoked.

The provincial Department of Natural Resources and Environment will coordinate with the Department of Construction and the Yen Bai City People’s Committee to select new investors for the project in line with regulations.