The Da Nang Management Board for Industrial and Export Processing Zones has decided to revoke the industrial licenses of 17 projects, because of slow project implementation since they were signed in 2010.
|A view of Da Nang City|
The 17 projects include eight foreign-investment projects and nine domestic-investment projects.
The investors of 15 other projects have also been asked to send in a report on project implementation to the Da Nang authorities. The report must categorically state all reasons for delay in project implementation.
Currently there are six industrial and export processing zones in Da Nang City, covering a total area of 1,106 hectares. The city has attracted investments for 333 projects, of which 69 are foreign-investment projects worth US$618.5 million and 264 are domestic-investment projects worth VND10,234 ($5,117 million).