A number of provinces across the country are calling for investment in key real estate projects, attracting the attention of real estate businesses with strong capacity.
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A number of provinces across the country are calling for investment in key real estate projects, attracting the attention of real estate businesses with strong capacity.
Mai Trung Hung, deputy director of Ba Ria-Vung Tau Province’s Department of Construction, said that 37 key projects, including 16 public investment projects, are seeking investment.
The department has been assigned by the provincial People’s Committee to invite bids for the South Vung Tau New Urban Area Project, he said.
Covering 69.46 hectares, the project, with a cost of VND4.62 trillion (US$198.75 million), includes townhouses, villas, apartments and shopping centres in wards 10 and 11 in Vung Tau City.
In addition, the province has agreed on the investor selection procedures for 12 projects.
There are five major projects that the province has not called for investors due to problems related to site clearance and investment procedures.
The province said it would solve the problems so that bidding for these projects could start this year.
In addition, Dong Nai province is calling for investment in two social housing projects, including one project covering 1.41 hectares in Long Binh Tan ward in Bien Hoa city, and another project covering 5 hectares in Loc An commune in Long Thanh district, which has completed technical infrastructure.
Lawyer Nguyen Van Hung of HCM City Bar Association pointed out that although the Investment Law has specific provisions on the extension of projects, law enforcement remains weak. Many projects have been delayed for up to 10-15 years, and have not been handled well by localities.
Localities must improve investment promotion activities, choose better investors, and apply stricter sanctions on investment violations so that capable investors with a strong financial capacity will be attracted to the projects, he said.
(Source: VNS)
