Nghe An: Terminating a slow-moving project

At the same time, the decision to terminate the validity of Decision No. 1538/QD.UBND-CNTM dated April 12, 2016 of the People's Committee of Nghe An province on approving the investment policy of the project of raising beef cattle and breeding cattle in Nghe An province, invested by APC Nghe An Agricultural Development and Processing Company Limited.

Reason for termination: The project was approved for investment policy on April 12, 2016, but has not been implemented yet, violating the provisions of Point g, Clause 1, Article 48 of the Investment Law.

Decision of Nghe An Provincial People's Committee on terminating slow-progressing projects.

Nghe An Provincial People's Committee also assigned the Department of Planning and Investment to contact and notify the investor about the termination of operations and cancellation of legal documents related to the project; request the investor to liquidate the project according to the provisions of law; assign the Provincial Investment Promotion and Support Center to introduce and attract capable investors with needs to research investment according to the provisions of law.

Requesting the People's Committees of Nghi Loc, Tan Ky, Quynh Luu districts and Hoang Mai town to coordinate with relevant departments and branches to manage land planning and handle other related issues in accordance with the provisions of law.

The investor (APC Nghe An Agricultural Development and Processing Company Limited) must cease all activities related to the Beef and Breeding Cattle Project in Nghe An Province. Carry out project liquidation in accordance with current regulations; take full responsibility for the costs incurred (if any) related to the survey, research, consultancy, project investment and other related issues in accordance with the law./.

PV