Traffic – Urban areas

Termination of operations of the urban market project in the east of Hai Duong city

PV • September 24, 2024 06:30

After many years of slow progress, the urban market project in the east of Hai Duong city at lot 02.2, Luong The Vinh street, Hai Tan ward has officially ceased operations.

*The urban market project in the east of Hai Duong city of Viet Duc Company Limited has officially ceased operations. In the photo: The land where the project was implemented*

The Department of Planning and Investment of Hai Duong province has just announced the termination of the investment project of the urban market in the east of Hai Duong city of Viet Duc Company Limited; revoked Decision No. 702/QD-UBND dated March 22, 2016 of the Provincial People's Committee approving the investment policy of this project. The investor is responsible for completing the procedures for liquidating the investment project and performing the investor's obligations according to the provisions of law.

Viet Duc Company Limited in Hai Tan Ward (Hai Duong City) was granted an investment certificate for the urban market project in the east of Hai Duong City by the Provincial People's Committee in August 2007, adjusted in March 2016. The project uses more than 7,000 m2 of land at Lot 02.2 on Luong The Vinh Street, Hai Tan Ward (Hai Duong City) with a total investment of over 62 billion VND. According to the approved target, this is a people's market implemented according to the scale standards of a type II market. According to the investment policy decision adjusted in March 2016, the investor must complete construction and put the entire project into operation before December 31, 2016.

However, while the project had not been fully implemented, in early 2017, Viet Duc Company Limited proposed to adjust the project, including the goal of combining a commercial service center and apartments. After reviewing, the provincial authorities confirmed that the adjusted goal was not consistent with the land use purpose, the detailed planning for the construction of a new commercial - tourism - urban area in the east of Hai Duong City and the approved housing development program.

*Part of the land area for the Eastern Urban Market Project of Hai Duong City was lent by the investor to another unit for business purposes.*

Thus, after many years of investment policy approval, the project is behind schedule; the investor requested to adjust the project objectives but was not granted. Up to now, the Hai Duong City Eastern Urban Market Project has officially ceased operations.

Hai Duong Newspaper also has many news and articles reflecting on this project.