Investors may be required to stop operating for not publicizing their projects’ information and progress
Since the project is granted an investment policy decision by the Provincial People's Committee or the Investment Registration Certificate issued by the Department of Planning and Investment, the investor has had to submit periodic reports on the project implementation progress by quarter or year. That requirement is asked by the Department of Planning and Investment of Long An to inform investors who are implementing the project.
Investors must publicize information, ensure the project progress according to the prescribed time
Accordingly, the Department of Planning and Investment of Long An requires that investors must report the contents of the project implementation progress, including procedures for land, construction, environment, fire prevention, connection traffic, construction investment progress of project items; difficulties and obstacles in the process of implementing the project; proposing solutions, remedial measures, implementation plan in the coming time, investment capital for implementation, etc.
For domestic investment projects, report in writing and online on the investment project management system of Long An province at the website address: (www.qldadt.ictlongan.vn).
To make it convenient for investors to report, the system has updated preliminary information of 1,059 projects in Long An province.
For foreign investment projects, report in writing and report online on the investment project management system at the website address: (www.qldadt.ictlongan.vn).
In addition, the Department of Planning and Investment requires the investors to install project information boards within 10 days since the Provincial People's Committee has decided on the investment policy, the Department of Planning and Investment grants the project investment certificates. Project information boards must update information on implementation progress and clearly state difficulties, problems, subjective and objective causes if the project is not implemented on schedule.
The contents of the information boards must contain the full name of the project, clearly state the number and date of the document issued by the authority to decide on investment policies and issue the Investment Registration Certificate; name of the investor; full name, position, contact address, phone number of the representative to contact; project scale; total investment; the project implementation progress according to the Decision on Investment Policy, the Certificate of Investment Registration.
If the investor fails to report on the progress of the project, fails to publicize the project information, it will be fined for administrative violations or the project will be stopped its operation./.
By Le Duc – Translated by Duc Tam
