The Chairman of the People’s Committee of Quang Nam Province requested that relevant authorities revoke the licenses for 4 coastal tourism projects which violated their commitments.
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| Many projects have been abandoned along Dien Ban – Hoi An beach (Illustrative photo) |
Le Minh Anh, Chairman of the People’s Committee of Quang Nam Province held a meeting with a steering committee of coastal tourism investment projects in Dien Ban – Hoi An about the issue.
The four projects belong to Hai Long Trade & Investment Ltd, Pegasus Fund 1 Ltd, Que Viet Ltd and Sai Thanh Joint Stock companies.
In addition, Quang Nam’s Department of Planning & Investment was assigned to lead and inspect joint venture implementation according to legal regulations by MTV 21st Century Ltd and Tri Viet Joint Stock companies, as well as investigate whether the two companies are committed to project deployment progress in terms of leasing land or handing over land with a one-time payment according to state regulations. Their projects must be suspended if any violations are discovered.
The meeting also pointed out that these projects were delayed because investors lacked financial capacity, they did not follow their commitments or they resold their projects illegally.
Furthermore, some investors asked to use some parts of their land for tourism property trading investments and to amend investment certificates and plannings with an aim of extending their projects implementation period causing major public concern.