Quang Nam Withdraws Licenses of 33 Projects

6:09:04 PM | 13/4/2007

The central province of Quang Nam has revoked investment licenses of projects in Chu Lai Open Economic Zones, said the provincial People Committee’s Chairman Tran Phuoc Thanh.
Of the sum, up to 33 are foreign direct investment (FDI) projects with a combined registered capital of nearly US$185 million and 11 projects of US$60 million.
The reason for this is due to slow implementation of projects, Thanh said.
The Vietnamese Prime Minister November 6 last year issued a new regulation for the operation of the EZ, turning the zone into a key urban-industrial-service center in the central region by 2010.
Accordingly, the EZ will be divided into two parts: tariff and non-tariff areas, and investors doing business there will be granted special preferential policies on land, site-clearance, tax, finance, banking services, and human resource development.