Local leaders have been disappointed by delays in the implementation of two new projects.
The Ha Tinh Provincial People's Committee has warned Ocean Group JSC about the slow deployment and breaches of regulations relating to progress of commercial centers and housing services in Can Loc and Ky Anh districts.
The group issued a written explanation and proposed to the province to allow it time to rearrange its schedule and balance its capital. The People's Committee requires Ocean Group to submit a progress report for each quarter and the year on April 30.
"Based on this extension, if the investors continue to implement slowly and do not follow schedule, the People's Committee will revoke investment certificates, terminate project activity and will not refund any expenses that the company has spent," a representative of the provincial People's Committee warned.
The Department of Planning and Investment as well as other relevant departments have been directed to closely monitor the progress of the project and have encouraged the People's Committee to consider withdrawal of investment certificates if the firm does not meet its commitments.
Ocean Group is permitted to survey construction of a commercial center and housing services in Ky Anh and Can Loc district over areas of 28,116 and 20,740 square meters respectively from 2012. During deployment, the project has encountered problems and leaders of the group have needed to work with the province several times.
Previously, at the beginning of 2014, Ha Tinh Land Fund Development Centre issued a warning about the project. It has also asked for investment in numerous areas approved by the province but these projects have not yet started construction.
"The project by Ocean Group JSC should be reviewed regarding its feasibility," a representative of the Development Center recommended. "If the company is committed to following the investment schedule, the plan of land usage for this project should be adjusted to fit better with the overall planning area in order to save land."