According to the Government's electronic information portal, the People's Committee of Quang Nam province has just assigned the Provincial Inspectorate to conduct a comprehensive inspection of the Viesky II Bird's Nest Production Factory Project (Vietsky II Project) of Viesky General Trading and Service Company Limited (Viesky Company) at Dien Nam - Dien Ngoc Industrial Park, Dien Ban town.
Quang Nam Provincial Inspectorate then announced a decision to conduct a comprehensive inspection of the compliance with legal regulations of Viesky Company in implementing the Viesky II Project.
According to Mr. Nguyen Duc Tien - Chief Inspector of Quang Nam province, the inspection team will conduct the inspection within 30 working days, focusing on the comprehensive and effective inspection of the compliance with legal regulations of Viesky Company in the implementation of the project from the investment preparation stage up to the present time.
According to Lao Dong's investigation on September 19, in a report sent to the People's Committee of Quang Nam province in August 2024, the Management Board of Economic Zones and Industrial Parks of Quang Nam province (Management Board) said that the Viesky II Project was granted an investment registration certificate in August 2019 with a total capital of 91 billion VND.
The investor then completes procedures on land, environment, construction, fire prevention and fighting according to regulations and starts construction.
However, although the initial progress was expected to put the project into operation in June 2021, to date, the total investment capital has only reached 38 billion VND (accounting for 41.98% of the total registered investment capital).
The project has only completed the construction of the fence, guard house, and pump house, and has not yet built the warehouse and factory.
It is noteworthy that Viesky Company has requested to adjust the project schedule three times in a row.
The project's schedule was adjusted for the first time in June 2021 (11-month extension from July 2021 to June 2022 to come into operation); the second schedule was adjusted for September 2022 (12-month extension from June 2022 to come into operation).
In the third recent adjustment request, Viesky Company continued to request a progress adjustment of 2 years and 7 months (from June 2023 to January 2026 for operation).
The reason given by Viesky Company is that the company's business in recent years has encountered many difficulties, with a decline in revenue and business losses. In addition, fluctuations in construction material prices have increased investment costs. Therefore, the capital source for project implementation is lacking, leading to investment delays.
According to the Management Board, at the meeting on April 10, 2024, the leaders of the People's Committee of Quang Nam province agreed to allow the Company to prepare a dossier to adjust the project progress until January 2026 to go into operation. In case of failure to comply with this progress, the project must be terminated.
In the adjustment request on August 2, 2024, Viesky Company also committed: “This is the last request for an extension of the project schedule. In case the Company does not implement the project according to the approved commitment schedule, the Company will carry out the project termination procedures according to regulations”.
"After reviewing the investor's explanation and comparing relevant regulations, the Management Board agrees with the proposal to adjust the project's schedule to put it into operation in January 2026" - the Management Board proposed to the People's Committee of Quang Nam province.
