Checking the capacity of 5 investors in residential area projects, urban areas, and land lease projects outside industrial parks

From December 24-28, two interdisciplinary inspection teams of the Provincial People's Committee organized inspections to assess the capacity of a number of investors and project owners of residential and urban area projects, and land lease projects outside industrial parks.

The five investors inspected include the following companies: Ha Phuong Joint Stock Company, Hung Thinh Group LLC, Viet My - Hai Duong One Member LLC (formerly Viet My - Ha Long One Member LLC), AAV Group JSC (formerly Viet Tien Son Real Estate Joint Stock Company) and Nam Quang Infrastructure Investment and Development Joint Stock Company.

The inspection aims to review and evaluate the capacity of a number of investors/project owners of residential area projects, urban areas, and projects leasing land outside industrial parks, thereby proposing to competent authorities to reclaim land and terminate project activities if the investors/project owners do not have the capacity to continue implementing the project according to the provisions of law.

In early 2024, the Provincial People's Committee directed departments, branches, units, and localities to inspect and handle domestic and foreign investment projects outside industrial parks that are behind schedule and not implemented in accordance with regulations. Through inspection and review, the whole province has hundreds of projects that are behind schedule and have been administratively sanctioned by specialized agencies; many projects and investors have had their operations terminated by the Provincial People's Committee...