Task force zeros in on Vung Tau

The board made the request after reports by an inspection team set up to review all projects, according to Nguyen Van Son, deputy director. Son was also chief inspector.
“We paid much attention to the foreign direct investment (FDI) projects, especially the big ones,” Son told Vietnam Investment Review. The inspection team had reviewed all documents of projects, studied their difficulties and obstacles and proposed solutions.
“As we recognise from the real situation of many projects, the most difficult and common problems which they are facing are the land clearance and compensation solution,” he said.
In order to solve this problem, Son said, a special policy should be put in place for large projects to help investors clear administrative obstacles and start as soon as possible.
He held up the US’ Winvest Investment LLC Group as an example. Winvest wants to build a $300 million tourism site, one of the largest FDI tourism projects in Vietnam. Their 300-ha Saigon Atlantis Hotel, at Cua Lap, 6km east of Vung Tau, would include an entertainment park, a five-star hotel with 800 to 1,200 rooms, villas, recreational facilities, shopping centres, restaurants and a slot machine area for foreigners.
“Regarding these big projects, the local authorities must be more active to help them solve problems,” Son said. The inspection team had surveyed 19 projects chosen for their location and investment procedures.
In order to move the process along in the province and solve problems, deputy chairman of the provincial people’s committee Ho Van Nien asked local officials to create favourable conditions for investors. For domestic projects the Inspection Team also suggested the local committee cancel three projects delayed for an extended period without an explanation. They are the Dong Son Tourism Service Centre, backed by the Dong Son Limited Company, a high-end office, apartment and shopping mall by the Saigon-Vung Tau Tourist and Trading Company and the South Bien Dong Resort, also by Saigon Vung Tau Tourist and Trading. Son said that these projects faced most of their difficulties in land clearance and compensation, or problems related to traffic access. He revealed, however, that investors were not the only ones to blame.
“We must say that it also is due to the complicated procedures and the incomplete out-fence infrastructure system.”
Son said his team suggested the local committee grant extensions to investors to get their projects moving again.
“On one side, we support investors to implement their projects, however, on the other side they have to know that time is limited and they will be revoked if they still delay,” he said, adding that many other investors were interested in the increasingly hard-to-come-by available land.
So far the province is home to 24 tourist projects with total land of 656ha and total registered capital of VND2,328 billion ($830m).



No. 782/October 9-15, 2006