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18/06/2019 - 13:40

Long An withdraws 20 investment projects

From early 2019 until now, Long An province has decided to withdraw 10 foreign direct investment (FDI) projects with a registered capital of USD 25 million and 10 domestic investment (DI) projects with a capital of VND 292 billion.

Long An currently has 1,785 DI projects and 975 FDI projects

Long An currently has 1,785 DI projects and 975 FDI projects

The Long An provincial People's Committee informed that from the beginning of 2019 until now, the province continues to review the progress of investment projects in the province. Accordingly, the province decided to withdraw 10 FDI projects, with a registered capital of USD 25 million, with an area of ​​6.5 hectares.

Besides, the province also decided to withdraw 10 DI projects with a capital of VND 292 billion, with an area of ​​4.78 hectares.

According to the assessment, after being granted investment registration certificates, most foreign and domestic investors in the province have quickly disbursed capital, imported machines, equipment, built factories and started their production and business.

However, there are investors, due to many reasons, including limited financial capacity or unexpected difficulties. Despite being granted investment registration certificates, they are slow to implement the projects. With the motto of supporting and accompanying businesses, the province yearly directs departments and functional agencies to review and make statistics on projects with slow implementation.

For projects that are expired and not yet implemented, the provincial People's Committee assigns functional departments and agencies to work with investors, find out the causes and promptly support enterprises to quickly deploy the project and put into operation for manufacturing and doing business. Particularly, investors who are slow to implement or deliberately prolong their implementation, the province resolutely withdraws and gives opportunities for other businesses.

Currently, in Long An province, there are 1,785 DI projects with registered capital of VND 212,401 billion and 975 FDI projects with a total registered capital of USD 6,106 million, of which 576 projects come into operation with total capital of about USD 3,614 million./.

By Gia Han – Translated by Duc Tam

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