Investment

Delayed projects reasonably handled

FRIDAY, 14/06/2019 16:52:29

Over the past time, the Department of Planning and Investment (DPI) has requested the Provincial People's Committee (PPC) to handle delayed projects with various measures.



The Department of Planning and Investment has requested extension of the implementation of Auto Hai Duong JSC.'s Kia-Mazda Auto Hai Duong Dealer project using nearly 4,000 m2 of land on Nguyen Luong Bang street (Hai Duong city)

Strong measures

Last February, the DPI asked the PPC to revoke and terminate Cao Cuong Co., Ltd.'s project to build a car repair and maintenance and food and drink service establishment in Cong Hoa ward (Chi Linh city).

The reason is that the project was approved by the PPC in 2003 but not implemented in accordance with the committed schedule. The company did not operate in accordance with the approved purpose. The investor used part of the project land to produce plastic roofing sheets. The remaining area was hired out as a clay storing ground.

The enterprise said that its director was sick and often hospitalized, so it could not focus on construction and complete the project in line with the approved objective and scale.

The company requested extension of the project progress to continue implementation and put the project into operation in conformity with the objective approved by the PPC but was not accepted by the DPI.

In mid-2018, the DPI checked the implementation progress of land hiring projects to invest in projects outside the provincial industrial zones.

The review was aimed to grasp the implementation progress of the projects after being approved by the PPC. Thereby, a State management agency listed and reported projects not carried out in accordance with the committed schedule or behind schedule to the PPC to work out handling measures.

A representative of the DPI said that through review, the implementation of 39 investment projects outside industrial zones in the province was slower than regulations.

In early 2019, the department reported and proposed tackling measures to the PPC.

In February, the PPC issued a document on the handling of these projects.

Accordingly, the PPC agreed to terminate and revoke the investment certificates or investment approval documents of 13 projects and extended the implementation progress of five others.

The PPC also assigned the DPI to preside and together with relevant departments, sectors, and local authorities check, tackle violations, and allow the extension of the progress of the remaining projects.

The recent monitoring and handling of violating projects show that the DPI's proposal of measures against violating and delayed projects was more specific towards each case.

In State management over investment, functional sectors do not want to take strong measures and force projects to be revoked because of violations.

However, this year, there have been a large number of projects requested to be revoked. This indicates that the PPC and DPI handled projects committing violations or being delayed for a long time, which wasted land and adversely affected public opinion, more severely.

Businesses' removal of difficulties facilitated
 


The Department of Planning and Investment has requested the Provincial People's Committee to extend Thanh Phat Trading Co., Ltd.'s pulp and paper production project in Phu Thai town (Kim Thanh) by 24 months
 
The DPI has requested the PPC to extend Thanh Phat Trading Co., Ltd.'s pulp and paper production project in Phu Thai town (Kim Thanh) by 24 months though it is in the revocation list of the provincial authorities, and this is the last extension.

Hearing the news, a representative of the company said: "After the PPC had approved investment, our company tried to put the project into operation. In 2012, it had to be suspended because of financial crisis.

"At present, our company is mobilizing more members to continue investment in production. Banks also organized asset auctions, so our company requested extension of the project implementation progress and duration.

"The project extension is very important at the moment since it helps our company have time to deal with related issues and facilitate the continuance of the project."

After the PPC had issued a notice, the DPI re-checked the violating projects to ensure objectivity. After review, the DPI asked the PPC to extend two projects on a list of 13 projects to be revoked.

"Investment projects are children of enterprises. Their survival is also that of enterprises," said Le Xuan Hien, Head of the DPI's Division of Bidding, Appraisal, and Investment Supervision, member of the Prime Minister's Working Team for the Enforcement of Corporate and Investment Laws.

"There are many reasons, both objective and subjective, for the delay of projects; therefore, measures to deal with delayed projects must be carefully proposed. Handling must be conformable to regulations, but conditions should be created to remove obstacles for enterprises.

"The recovery of violating projects will provide land for new investors and limit wasteful land. However, after recovery, the interests of both old businesses and new investors should be ensured in accordance with legal provisions."
 
LAN NGUYEN

Comment

Please enter comment