Nghe An abolishes legal documents for Cau Thong Market Construction Investment Project

Accordingly, the People's Committee of Nghe An province decided:

Abolish legal documents of Nghe An Provincial People's Committee regarding the Cau Thong Market Construction Investment Project in Trung Do Ward, Vinh City. Specifically, including the following documents:

1. Official dispatch No. 1314/UBND-CN dated March 16, 2010 of Nghe An Provincial People's Committee on changing the investor of Cau Thong market construction in Trung Do ward, Vinh city.

2. Investment Certificate No. 27121000098 issued by the Provincial People's Committee on November 13, 2014 to Trang Anh Construction Production and Trade Joint Stock Company.

3. Decision No. 3573/QD.UBND – CN dated August 12, 2010 of the Provincial People's Committee on approving the adjustment of the detailed construction planning of Cau Thong market.

4. Decision No. 685/QD-UBND.DC dated December 4, 2014 of the Provincial People's Committee on leasing land for the first phase to Trang Anh Construction, Production and Trade Joint Stock Company in Trung Do ward, Vinh city.

The reasons for the cancellation are clearly stated: Firstly, the Cau Thong market construction investment project in Trung Do ward, Vinh city is no longer consistent with related planning (part of the land area implementing the project is not consistent with the Trung Do ward zoning plan and Vinh city land use plan until 2030 approved by Nghe An Provincial People's Committee).

Second, Trang Anh Construction Production and Trade Joint Stock Company has not operated at the registered address for more than one year, its financial capacity does not ensure land use according to the project progress; it does not coordinate to report on the project implementation progress; the Investor does not comply with the contents of the Investment Registration Certificate No. 0331370514, which was granted the first change certificate by the Department of Planning and Investment on January 13, 2017.

Third, the implementation of procedures for adjusting investment projects when investors divide, separate, or merge enterprises is not in accordance with the provisions of Clause 1, Article 40 of the 2014 Investment Law and Article 38 of Decree No. 118/2015/ND-CP dated November 12, 2015 of the Government detailing and guiding the implementation of a number of articles of the Investment Law.

At the same time, the decision also assigned relevant departments, branches and localities to inspect and review procedures to carry out the next steps when canceling the above documents in accordance with current legal regulations.

Assign Vinh City People's Committee to review related contents under its authority and responsibility to coordinate with relevant agencies to carry out legal procedures when canceling the above documents; coordinate with investors to assess costs, financial obligations, land for handling, and advise on solutions to handle issues related to the project according to regulations.