For instance, the US$1.3-billion project of Good Choice USA – Vietnam Co. Ltd. to build an amusement park was licensed in 2008 but the investor has failed to proceed with it.
Named Wonderland World Vung Tau, the complex is expected to have a five-star hotel with 2,500 rooms, 4 four-star hotels with 1,000 rooms each, and an entertainment complex in Nguyen An Ninh Ward.
But none of the above construction has ever been done and the investor has simply disappeared after getting the license.
The city administration thus decided to cancel the investor’s license early this week.
An official from the city’s Center for Land Development said the investor hadn’t contacted his center to discuss site clearance and other tasks to proceed with the project.
Phan Hoa Binh, Chairman of the municipal People’s Committee, said Vung Tau had many times urged the investor to begin working on the project, but received no responses.
Nguyen Tu Quy, director of the Centre for Technical and Professional under the Ba Ria-Vung Tau Province Department of Natural Resources and Environment, said Good Choice USA – VN owed the center VND400 million for surveying.
“We do not know where to find this investor,” he said.While the investor is hiding somewhere, locals have been squatting on the land plot zoned for the project.
Site clearance problems
While most of the long-delayed or stalled projects are mainly caused by the investors’ incapability, other plans too are being delayed by local authorities.
The $4.1-billion Saigon Atlantis Hotel project, for instance, is yet to get started because local authorities haven’t completed site clearance.
Though it expected to receive 100 out of 1,000 hectares of land zoned for this project by the first quarter of 2009, Winwest Vietnam Co. Ltd., the project’s investor, has so far received only 90 hectares, even though it has provided VND98-billion to aid the city.
Dang Minh Thong, deputy director of the provincial Department of Planning and Investment, said site clearance was the main obstacle for many projects in Vung Tau city since local authorities didn’t have enough money.
Many other projects including the $900-million Skybridge Dragon Sea and a project to build a hotel, trade center and apartment complex of OSC-Duxton Co. Ltd. have also been delayed since the investors haven’t received their land.