Hanoi “threatening” to withdraw PVR's resort project
Tan Vien Luxury International Tourist Resort is facing the threat of having its project license withdrawn if PVR fails to submit the 1/500 detailed master plan for appraisal.
Tan Vien Luxury International Tourist Resort is invested by PetroVietnam Premier Recreation Joint Stock Company (PVR on UpCOM). The project has been approved for investment in 2008, with a scale of 1,024.8 hectares and total investment capital of VND4,6 trillion (US$202 million).
Hanoi has just issued an official letter requesting relevant departments, branches, and localities to implement the recommendations of the Supervision Committee of the Standing Municipal People's Council upon 3 slow-moving projects in Ba Vi district.
Specifically, with respect to Tan Vien Luxury International Tourist Resort, Hanoi assigned the Department of Planning and Investment to preside and co-ordinate with the Departments of Planning-Architecture and Finance and related units to assess the feasibility of project implementation.
If the investors fail to submit the necessary dossiers to the Department of Planning-Architecture to evaluate the 1/500 detailed master plan as committed, then all procedures shall be made to propose the Municipal People’s Committee to withdraw the project and assign other investors.
As Hanoi merged with Ha Tay, the project was suspended until May 2010. In addition, the project’s scale was reduced from 1,024.8ha to only 183.6ha, while total investment capital decreased from VND4,6 to 3,5 trillion (US$202 to 154 million). The project had approximately 500 golf villas, resort villas, a 4.7ha water sports park, a 4.5ha hotel and entertainment complex, a harbour, tennis courts, soccer fields, restaurants, and a spa, among others.
In March 2014, PVR has already approved the recommendations of the company's director upon the project implementation, while simultaneously assigning the company director to proactively work with the consulting unit to prepare a detailed master plan, then resume the investment project and seek partners for divestment or investment co-operation.
However, up until now, PVR has not yet found any partners to transfer the project. For the expansion of Yen Ky Cemetery Project (stage 1) which is invested by Binh Minh Construction and Tourism Group JSC, the Hanoi People's Committee has assigned the Department of Planning and Architecture to evaluate dossiers and the adjustments on the 1/500 detailed master plan of the project to better suit the current situation and regional infrastructure as wel as regulations, then submitting them to the Municipal People's Committee.
The Department of Natural Resources and Environment is taking charge and co-ordinating with the Ba Vi District People's Committee to inspect and handle all cases of illegal resource exploitation in Ba Vi district, promptly agreeing with Technical Engineering College (Ministry of Defense) upon the specific schedule of relocating the institution to immediately deliver land to the investors.
The Department of Planning and Investment shall guide and request the investor in making specific commitments on disbursement and construction progress, and will promptly propose recommendations in case the investor is found in breach of regulations.
With regard to the investment project on water supply as well as the rehabilitation and restoration of Tich River, the city shall assign the Department of Planning and Investment to assume prime responsibility and co-ordinate with the Department of Finance to allocate capital according to the schedule of project implementation.
Tan Vien Luxury International Tourist Resort project.
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Specifically, with respect to Tan Vien Luxury International Tourist Resort, Hanoi assigned the Department of Planning and Investment to preside and co-ordinate with the Departments of Planning-Architecture and Finance and related units to assess the feasibility of project implementation.
If the investors fail to submit the necessary dossiers to the Department of Planning-Architecture to evaluate the 1/500 detailed master plan as committed, then all procedures shall be made to propose the Municipal People’s Committee to withdraw the project and assign other investors.
As Hanoi merged with Ha Tay, the project was suspended until May 2010. In addition, the project’s scale was reduced from 1,024.8ha to only 183.6ha, while total investment capital decreased from VND4,6 to 3,5 trillion (US$202 to 154 million). The project had approximately 500 golf villas, resort villas, a 4.7ha water sports park, a 4.5ha hotel and entertainment complex, a harbour, tennis courts, soccer fields, restaurants, and a spa, among others.
In March 2014, PVR has already approved the recommendations of the company's director upon the project implementation, while simultaneously assigning the company director to proactively work with the consulting unit to prepare a detailed master plan, then resume the investment project and seek partners for divestment or investment co-operation.
However, up until now, PVR has not yet found any partners to transfer the project. For the expansion of Yen Ky Cemetery Project (stage 1) which is invested by Binh Minh Construction and Tourism Group JSC, the Hanoi People's Committee has assigned the Department of Planning and Architecture to evaluate dossiers and the adjustments on the 1/500 detailed master plan of the project to better suit the current situation and regional infrastructure as wel as regulations, then submitting them to the Municipal People's Committee.
The Department of Natural Resources and Environment is taking charge and co-ordinating with the Ba Vi District People's Committee to inspect and handle all cases of illegal resource exploitation in Ba Vi district, promptly agreeing with Technical Engineering College (Ministry of Defense) upon the specific schedule of relocating the institution to immediately deliver land to the investors.
The Department of Planning and Investment shall guide and request the investor in making specific commitments on disbursement and construction progress, and will promptly propose recommendations in case the investor is found in breach of regulations.
With regard to the investment project on water supply as well as the rehabilitation and restoration of Tich River, the city shall assign the Department of Planning and Investment to assume prime responsibility and co-ordinate with the Department of Finance to allocate capital according to the schedule of project implementation.
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