On May 4, the leader of the People's Committee of Quang Tri province confirmed that he had decided to adjust the investment policy and continue to approve AE Group Joint Stock Company as the investor of the project " AE Resort marine ecological urban area - Cua Tung" in Vinh Linh district.
According to the new decision, investors are extended the construction progress of phase 1 of the project to the fourth quarter of 2027. This stage includes building 100 villas, 32 shophouse apartments, technical infrastructure systems, amusement parks and accompanying utilities. The provincial People's Committee emphasized that, if not completed according to the new progress, the investor will not be refunded deposits and be considered for handling and terminating the project operations as prescribed.
The AE Resort - Cua Tung project is invested by AE Group Joint Stock Company, and has been granted an investment policy since April 2018. The project has a scale of 36.54 hectares, spanning more than 1.2km of coastline, with a total estimated investment of nearly 493 billion VND. According to the original plan, the project would be completed in the fourth quarter of 2021. However, up to now, 6 years have passed since the groundbreaking date, the project has not yet taken shape.
After the delay in 2021, Quang Tri province adjusted the project progress to the third quarter of 2024. However, up to now, the project is still unfinished. Recorded at the scene, only a few items such as fences, transformer stations, and villa foundations were built, the rest were abandoned and overgrown with weeds.
The project was expected to create a breakthrough for Cua Tung sea tourism, create jobs for local people and contribute to the economic development of the area. However, contrary to initial commitments, the prolonged delay has caused public outrage.
Previously, since 2022, Lao Dong Newspaper had a series of articles reflecting a series of abandoned projects worth hundreds and thousands of billions in Quang Tri, including AE Resort - Cua Tung. The articles have pointed out the risk of drawing projects for land, warned of waste of resources and the need to tighten investor's responsibility.
