Russian project’s licence revoked due to delays

A corner of Nhon Hoi Economic Zone. The province will  withdraw licences of projects that have been delayed. — Photo kktbinhdinh.vn

HÀ NỘI (VNS) — The management board of Nhơn Hội Economic Zone in the central coastal province of Bình Định has revoked the investment certificate issued to a Russian bus manufacture project due to its delay in implementation, Phan Cao Thắng, deputy head of the board said yesterday.

Russian project’s licence revoked due to delays

Thắng, who is also the provincial People Co妹妹itee’s deputy chairman, said the project, owned by Russia’s Buscenter Met Company Ltd, was meant to assemble and manufacture bus parts and agricultural machines.

Under the licence granted in April  二0 一 三, the US$ 一billion project was to be built on  五0ha in Nhơn Hòa Industrial Park in An Nhơn township.

"The construction is expected to be finished in three years. However, it is now at a standstill,公众Thắng said.

The project was the foreign direct investment project that had the largest-ever capital in the province.

Local authorities said the province always provided the best conditions for investors to do business, but it would withdraw licences of projects that have been delayed. The withdrawal of licence is aimed at helping other investors get an opportunity to do business in the province. — VNS

 

Russian project’s licence revoked due to delays

Russian project’s licence revoked due to delays