On March 26, information from the Lao Cai Provincial People's Committee, the Director of the Provincial Department of Finance has just signed a decision to sanction administrative violations against Xuan Thien Yen Bai Joint Stock Company.
The enterprise is headquartered in Na De Thang village, Khao Mang commune (formerly Mu Cang Chai district, Yen Bai province), and is the investor of the Ngoi Hut 8 Hydropower project in Phong Du Ha commune.
According to the decision, Xuan Thien Yen Bai Joint Stock Company has committed many administrative violations, including: not implementing or not properly implementing the investment activity reporting regime; not carrying out procedures for approving investment policy adjustments according to regulations; and not properly implementing the contents in the investment policy approval document.
The above acts violate the provisions of Decree No. 122/2021/ND-CP of the Government on sanctioning administrative violations in the field of planning and investment.
For these violations, the enterprise was fined a total of 210 million VND.
In which, the act of not implementing the reporting regime was fined 40 million VND; the remaining two acts were fined 85 million VND each.
In addition to monetary penalties, functional agencies require businesses to implement remedial measures, including: fully implementing the investment activity reporting regime; completing procedures to adjust investment policies according to regulations; and implementing the project in accordance with the approved content.
The enterprise is responsible for reporting the implementation results and self-paying all related costs.
Previously, on February 13, this enterprise was also fined 320 million VND for not having an environmental permit for the Khao Mang Thuong Hydropower Project in the communes of Mu Cang Chai, Khao Mang, Lao Chai.
