Resort project worth over 5,000 billion but without 45 billion deposit was 'whistled'

On March 14, the Department of Planning and Investment of Quang Tri said that the unit had just sent a document to the Provincial People's Committee, requesting consideration and agreement on the policy of terminating the Mui Treo Beach Resort Complex project.

The project has been approved by the Provincial People's Committee for investment policy for 48 months now, but the investor has not yet completed the relevant legal procedures to implement the project; has not ensured capacity and has not really been determined to implement the project. Specifically, according to the provisions of Article 33 of the Investment Law, the investor must "Have capital owned by itself to implement the project of no less than 15% of the total investment for projects with a land use scale of 20 hectares or more".

Quảng Trị: Đề nghị chấm dứt dự án Khu phức hợp nghỉ dưỡng biển Mũi Trèo - Ảnh 1. — Mui Treo (Quang Tri) has a beautiful location.

Thus, with a total investment of VND 5,750 billion, the investor must meet a minimum of VND 862.5 billion. However, to date, the project has not yet fulfilled its obligation to pay a security deposit of VND 45 billion (no later than March 7, 2023).

The Mui Treo Beach Resort Complex Project was granted investment policy by the Provincial People's Committee on March 25, 2019 with an expected area of 198.89 hectares, total project investment capital of VND 5,750 billion, divided into two phases, of which phase 1 will be completed in the fourth quarter of 2021, phase 2 will be completed in the second quarter of 2025.

Up to now, the investor has signed a contract with the Vinh Linh District Project Management Board to complete the inventory of assets on land and phase 1 land of about 56.86 hectares; and has set up markers for phase 1 site clearance since 2019. Of which, Kim Thach Commune People's Committee manages 16.4 hectares of land; household land manages 40.4 hectares. The total estimated compensation and support cost is about 52 billion VND.

This compensation and support plan has been sent to the investor for consideration, but to date the investor has not contacted to continue the site clearance work. The Phase 1 project has been delayed for more than 15 months, the investment policy adjustment dossier has not been completed; the investor has stopped the project but has not reported to the investment registration agency.

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