Recently, the Department of Economics, Infrastructure and Urban Areas of Binh Hoa Ward (Binh Hoa Ward People's Committee, Ho Chi Minh City) had a working session with representatives of STC Corporation Joint Stock Company (investor of STown Gateway project) and Phuong Nam Construction Trade Tourism Company Limited (Phuong Nam Resort tourist area) about the damage to Phuong Nam Resort tourist area after STC Corporation organized the construction of the STown Gateway project foundation.
At the meeting, representatives of STC Corporation and Resort Phuong Nam agreed to let the Housing Management and Construction Inspection Center (HMCIC) conduct an appraisal of the current status of the project. Accordingly, Phuong Nam Resort has signed Inspection Contract No. 34/HD-TTQLNDXD-GDXD with HMCIC.
On STC Corporation's side, this enterprise has issued a document confirming the consensus for this unit to continue implementing the work according to the signed contract, and at the same time committed to comply with obligations related to costs and compensation based on the final appraisal results.
This consensus is an important step to make the extent of the damage transparent, creating a solid foundation for remediation of consequences and compensation in accordance with current construction law.
