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Friday, July 19, 2024

Localities asked to report progress of large FDI projects

By Le Hoang

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HCMC – The Ministry of Planning and Investment has requested localities to report the execution of large foreign direct investment (FDI) projects that need significant investment and use large land lots.

Projects with registered investments of US$100 million and above each and developed on land lots measuring at least 50 hectares each will be reviewed.

HCMC, Hanoi, Danang, Haiphong, Khanh Hoa and Ba Ria-Vung Tau must also report the progress of real estate FDI projects developed on land lots of two hectares and over each.

Agencies in charge of investment application approvals were asked to report the capital contribution and disbursement and the fulfillment of commitments in the investment certificates and those on the progress of projects.

The use of land and the compliance with regulations on land and construction, as well as the fulfillment of financial obligations, must also be reported.

The Ministry of Planning and Investment also asked localities to report the use of laborers and the compliance with Labor Law and regulations on environmental protection at these FDI projects.

Localities will summarize difficulties facing FDI projects and propose solutions or amendments to the law and policies to speed up the progress of the projects.

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