HCM City's authorities are considering cancelling the license for a USD3.5-billion Malaysian project to build an international university township due to its long delay.
Licensed in 2008 and scheduled to start in 2011 and be completed in 2021, no work to date has begun.
The USD3.5-billion international university township project in HCM City's Hoc Mon District
The project was designed to use more than 100 hectares to develop a university designed to become a leading institution in Southeast Asia, along with 20 schools ranging from kindergarten to high school. It also would include services, shopping, cultural and health centres and residential property.
Due to its sluggish implementation, people in Hoc Mon District have proposed many times to municipal authorities to withdraw the licence.
The HCM City People's Committee has urged its Department of Planning and Investment to review the project and help Berjaya Land, the investor, to deal with difficulties it may be facing to speed up the project; otherwise the license for the USD3.5 billion project will be revoked.
