On December 24, news from the Department of Planning and Investment of Binh Thuan province said that Mr. Le Ngoc Tien - Director of this department sent a document to investors with investment projects in the province to notify the handling of investment projects that are slow to implement or not implemented on schedule according to regulations.
Recently, many investment projects in Binh Thuan province have been approved for investment, but have been slow to implement or not implemented on schedule as stipulated in the investment approval documents, causing waste in management, exploitation and use of land resources.
Many investors have not complied with the provisions of the law on investment in the process of implementing investment projects. This has caused public outrage; the effectiveness of land use has not been promoted, negatively affecting the investment environment and socio-economic development of Binh Thuan province.
Therefore, the Department of Planning and Investment of Binh Thuan province will review each investment project, resolutely apply appropriate administrative measures such as administrative sanctions or decisions to stop or terminate investment projects to thoroughly handle investment projects that are slow to implement or not implemented on schedule as prescribed, investors who are not capable or intentionally prolong the implementation time of investment projects.
The Department of Planning and Investment of Binh Thuan province also requested investors with investment projects in Binh Thuan province to seriously and periodically report to departments, branches and localities on the implementation status of the project in accordance with regulations; comply with regulations on investment, planning, land, environment, construction, real estate business, housing, labor, fire prevention and fighting, etc. during the implementation of investment projects.
In case after 24 months from the end of the progress of implementing the operational objectives of the investment project or the operational objectives of each phase (if any), the investor still fails to complete these operational objectives and is not eligible for progress adjustment according to regulations, the Department of Planning and Investment of Binh Thuan province will carry out the procedures for terminating the investment project according to regulations.
