The southern province of Dong Nai has withdrawn licences it issued to 531 delayed foreign direct investment projects last year. (Photo: VNA) Dong Nai (VNS/VNA) – The southern province of Dong Nai last year scrapped the licences it had issued for 531 proposed foreign projects due to slow progress. They involve combined investment of over 5.34 billion USD, according to the provincial Department of Planning and Investment. After receiving their investment registration certificates, most foreign investors quickly bring in money, import machinery and equipment and build plants, usually in one to two years, and begin doing business, according to Mai Van Nhon, deputy head of the Dong Nai Industrial Zones Authority (DIZA). Investors who delay their projects due to unexpected difficulties would get assistance from the province, with the DIZA always working with investors to find out the reasons, he said. If they are determined to do business, their licences would get an extension, but investors who sound unreasonable or deliberately delay their projects would lose their licences, which would then be given to others, he added. According to the department, the province received more than 1.96 billion USD worth of FDI last year, nearly double the targeted amount. So… Read full this story
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