A corner of an abandoned project in Quang Ngai. Photo by Tienphong.
According to a report from the department, 21 projects had their investment licenses revoked in 2020, and another 12 projects in 2021, and 15 in 2022.
In 2022 and 2023, the Management Board of Dung Quat Economic Zone and Quang Ngai Industrial Zones revoked licenses of nine projects invested by the FLC Company in Dung Quat Industrial Zone with registered investment of VND18 trillion (USD721.45 million) on an area of 250 hectares.
The VND1 trillion (USD43 million) King Bay - Sa Huynh Resort, invested in by Vietnamese investment firm King Bay was given a licence in June 2019 and was scheduled to be put into operation by the end of 2021. However, the 51.40-ha project has yet to start construction due to site clearance problems.
According to the department, these projects had been delayed for a long time, wasting land and causing public anger.
"We'll continue to check and deal with all the stagnant investment projects in 2024," the department said.