In early December, in Tan Hong village, Ban Qua commune, Bat Xat district, Lao Cai province, according to the reporter of Lao Dong Newspaper, after many years of implementation, the high-tech electric wire and cable factory project with a total investment of 1,900 billion VND is still "covered" and is just an empty land.
Currently, no construction has been started. Many areas of the project land are left vacant, overgrown with weeds, making people feel fed up.
Mr. Nguyen Van Khang (residing in Ban Qua commune) could not help but regret: “A few years ago, when we heard that a large factory was about to be built in the commune, everyone was excited because when completed, it would create more stable jobs. This would help develop the local economy. But after nearly 3 years, it has still not moved. The project has been planned, and the people's land is also subject to recovery and compensation.”
According to Mr. Khang, land that has been planned for a long time and left idle for many years is a huge waste. Therefore, the decision of the authorities to revoke this project is correct.
Through research, the project of the high-tech electric wire and cable factory in Tan Hong village, Ban Qua commune was started in March 2022, with a construction scale of 15.7 hectares, invested by Nexus Technologies and Cable Co., Ltd. (Korean investor).
This is the largest FDI project of Korea in Lao Cai in developing high-tech industry. Phase I is expected to be completed in 2024 and Phase II in 2026. Phase I will produce civil electric wires, Phase II will produce high-voltage electric cables.
The entire technological line is manufactured in Europe, with a factory design capacity of 60,000 tons of products/year.
According to the schedule, the project will complete phase I in 2024 with the expectation of creating jobs for thousands of local workers. But until now, the project is still in a state of inactivity and the completion date is unknown.
Vice Chairman of Bat Xat District People's Committee To Van Thanh informed: The main reason is that the project started in 2022 but the investor has not been able to mobilize capital for implementation. Currently, Lao Cai province has assigned the project to the Border Gate Economic Zone Management Board to manage and supervise implementation.
Regarding this issue, Head of Lao Cai Economic Zone Management Board Vuong Trinh Quoc said: "The Board has repeatedly issued documents urging, but due to difficulties in capital sources, the enterprise could not confirm the completion time. Therefore, the unit has reported to the Provincial People's Committee, coordinated with the relevant departments to withdraw the project according to regulations."
Statistics show that in Lao Cai province, there are currently 29 projects located in industrial parks and economic zones with problems that need to be resolved. In early December 2024, the Provincial Economic Zone Management Board decided to suspend the operation of 2 projects in Dong Pho Moi Industrial Park.
According to the Lao Cai Provincial Economic Zone Management Board, if any project does not meet capacity, the unit will consult with the province to reclaim land to reserve land for other investors, avoiding waste.
