At the press conference on the socio-economic situation (KT-XH) in the first quarter and socio-economic development tasks in the second quarter of 2025 (afternoon of April 4), Mr. Lam Hai Giang - Vice Chairman of Binh Dinh Provincial People's Committee - informed about the plan to handle "suspended" projects and slow-moving projects. Including the Phu Hoa Lake Urban - Tourism - Culture - Sports Area project (abbreviated as Phu Hoa Lake Urban Area project)
The Phu Hoa Lake Urban Area Project has a scale of more than 320 hectares, with a total investment of about VND5,000 billion, and started construction in July 2015, but after nearly 10 years of implementation, it is still "stuck in place". The project campus is currently just an empty lot, with many unfinished and unsafe construction items, causing local people to be upset and seriously affecting the landscape of the core area of Quy Nhon City.
Through research, in 2013, Phuc Loc Group Joint Stock Company (Ninh Binh) issued a document proposing to invest in 2 projects: Construction of Dien Bien Phu extended road and Renovation and upgrading of Phu Hoa lake drainage system in Quy Nhon city under the form of construction - transfer (BT) contract. In return, the province pays the investor with land funds belonging to the Phu Hoa Lake Urban Area project.
In July 2014, the People's Committee of Binh Dinh province agreed to let this company implement two BT projects and a payment project at the same time. However, after starting construction, the projects did not ensure progress, revealing many shortcomings in management and implementation.
In November 2018, Binh Dinh province was forced to temporarily suspend the implementation of the Phu Hoa Lake Urban Area project to prioritize the settlement of payments for the two BT projects. The Provincial Civil and Industrial Project Management Board (now the Provincial Traffic and Civil Works Project Management Board) is assigned to preside over and coordinate the implementation according to regulations.
In August 2019, the Government Inspectorate stepped in to inspect and pointed out a number of violations against these two BT projects. According to the inspection conclusion, although there is no construction drawing design, construction measures and no construction permit, the investor still implements 2 projects. In addition, the investor has not yet completed the procedures to convert 7.6 hectares of protective forests under the power grid safety corridor.
On February 14, 2023, Binh Dinh Civil and Industrial Project Management Board issued a report to the Provincial People's Committee for the policy of terminating the contract of two BT projects, on the grounds that investors violated many terms in the contract and the validity period of the two BT contracts ended.
At the press conference, Mr. Lam Hai Giang said that the province has completed the procedures for the revocation of the Phu Hoa Lake Urban Area project, and will soon conduct bidding and select investors for implementation, in order to turn the shabby area in the center of Quy Nhon City into an urban bright spot.
For more information about the project, Mr. Nguyen Thanh Hai - Director of the Department of Finance of Binh Dinh province - said that the procedures for bidding for the project have been completed.
"This project is eligible for bidding because it is in accordance with the city's land use planning. We have asked for the opinion of the Provincial Party Committee Standing Committee for the policy of implementing the project in the form of organizing bidding, and are currently waiting for instructions to implement it," said Mr. Hai.
