Tran Minh – Friday, April 26, 2024 18:11 (GMT+7)
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Ba Ria – Vung Tau People’s Committee has decided to terminate the Toc Tien Service Urban Area project after 15 years of non-implementation, in order to optimize land use and create conditions for new projects.
After more than 15 years have passed without seeing significant progress, the Toc Tien Service Urban Area project has become one of the notable hot spots in Ba Ria – Vung Tau province. This project, with an area of up to 179.5 hectares, was approved by the Provincial People’s Committee to allow Tan Phuoc Thinh Investment and Construction Joint Stock Company and Bach Ngan Trading and Services Company Limited to set up investment procedures. Invested and built since 2008.
However, over time, even though more than a decade has passed, these two companies have not carried out investment preparation procedures, nor have they continued to contact competent authorities to proceed with implementation. project according to regulations. For this reason, the project was not eligible to continue implementation according to the provisions of investment law.
With the People’s Committee of Ba Ria – Vung Tau province issuing a decision to revoke and terminate the validity of the document approving the investment policy to build Toc Tien service urban area, related businesses will have to bear all costs and expenses themselves. responsibilities related to project implementation. This means the end of a long journey and the opening of a new page in the process of urban development and investment in this locality.
Notably, not only stopping at the Toc Tien Urban Area project, Tan Phuoc Thinh Investment and Construction Joint Stock Company also faces a similar decision in September 2023, when the Provincial People’s Committee revoked and Terminate the validity of recognition as investor of social housing projects in Phu My New Urban Resettlement Area, Phu My town, Ba Ria – Vung Tau province.
Tan Phuoc Thinh Investment and Construction Joint Stock Company, a unit operating in many industries, from construction, industrial infrastructure investment, to real estate business and logistics services, has a long history of operation. notable movements over the past several years. However, challenges and risks during the implementation of projects have raised many questions about this company’s ability to manage and deploy in the future.
With this, the People’s Committee of Ba Ria – Vung Tau province has sent a strong signal on the management and supervision of investment projects, while also stepping up efforts in optimizing land use and creating favorable conditions. for new, more potential projects that can be implemented and developed in the future.
