HCMC annuls license for Thu Thiem Software Park

Le Manh Ha, Deputy Chairman of the People’s Committee of Ho Chi Minh City justified in his report to the ministry of Planning and Investment that the committee was fully entitled to annul the license of the TA Associates Company assigned to build the Thu Thiem Software Park in District 2.

So far the city had showed goodwill by creating conducive conditions and bearing patiently all delays by the company in executing the project, for more than three years. However, the company did nothing to reciprocate, showing only a tardy progress of the project.

Since the project broke ground on July 2008, TA Associates Vietnam Company has not made efforts to complete the project, nor has it completed land rental procedures, nor paid rentals, as per commitment. The company also ranted on issues that were not part of the deal, particularly those concerning rentals and time of payments of the same.

According to Investment Law of 2005, the investment certificate can be withdrawn if the investor fails to carry out any project even after 12 months of due date.

In related news, Van Huu Chien, Chairman of the People’s Committee of Da Nang City ordered local authorities not to entrust the Vicoland Group to build any more social housing projects in the region, as the company had failed to meet its commitment of constructing 7,000 apartments for low-income people as planned.

Earlier, Nguyen Ba Thanh, the municipal party committee secretary of Da Nang City, had instructed the city to buy apartments for low-income workers from Vicoland Group.

Accordingly, the city agreed to buy 100 apartments located on Bach Dang Dong Street. At the same time, it allowed Vicoland to sell out the remaining 178 apartments.

By V.Anh, Ng.Hung – Translated by Thuy Doan

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