The Danang Planning and Investment Department has recently provided information regarding stalled projects in the area, along with proposed solutions to address delays in implementation.
From 2016 to 2022, Da Nang witnessed 73 projects receiving investment registration certificates, investment policy approvals, and investment policy endorsements from the People’s Committee and the Department of Planning and Investment. These projects spanned various sectors, including real estate, residential, and urban development; tourism; trade and services; and other production and business activities.
Additionally, prior to 2016, the People’s Committee of Da Nang had granted investment registration certificates and investment policy decisions to nine projects, which also experienced delays in their implementation.
Notable among these are the DAP Vietnam project by DAP Limited Liability Company; DAP 1 Vietnam project by DAP 1 Limited Liability Company; DAP 2 Vietnam project by DAP 2 Limited Liability Company; the Hon Ngoc Asia Coastal Tourism Area project by Hon Ngoc Asia Joint Stock Company; the 5-star Commercial Complex, Trade Center, and Hotel project; the Da Nang Center luxury apartment project by Vu Chau Long Real Estate Joint Stock Company; the Golden Square high-end commercial, office, hotel, and apartment complex project by Dong A Real Estate Joint Stock Company (now defunct); the Far East Meridian project by Far East Real Estate Joint Stock Company (also defunct), which comprised a trade center, office, hotel, and luxury apartments; and the I.V.C Beach Tourism Area project by I.V.C Limited Liability Company.
The Da Nang Center luxury apartment project by Vu Chau Long Real Estate JSC has been stalled for over 15 years in the heart of Da Nang. Photo: Ho Giap |
According to the Department of Planning and Investment, the reasons for the delays in project implementation include limited financial capacity of some investors, the impact of the COVID-19 pandemic, inconsistencies with the 2017 sub-planning or master plan during the process of establishing planning and construction procedures, land-related procedural obstacles awaiting resolution, and slow progress in site clearance and subsequent land handover to investors.
To address these issues, the city has focused on refining its policies, regulations, and procedures, as well as expediting the completion of sub-planning schemes and specialized infrastructure planning to provide a foundation for resolving project-related matters.
In cases where projects have been delayed due to adjustments in sub-planning, the People’s Committee has been working diligently to accelerate the progress of establishing and adjusting sub-planning schemes. So far, Da Nang has approved the sub-planning for the Han River and East Bank areas, the Da Nang Bay area, the Suon Doi urban area, the Lien Chieu Port area, and the High-Tech Park area.
Furthermore, the city has directed the Department of Construction and the People’s Committees of districts and counties to actively support investors in fulfilling planning and construction procedures, enabling them to commence their projects promptly.
 The Far East Meridian Tower project, located at 84 Hung Vuong Street, has been left abandoned for several years. Photo: Ho Giap |
For projects that have faced delays or have yet to commence due to land-related issues, the People’s Committee has instructed the Department of Natural Resources and Environment to provide recommendations and facilitate the resolution of financial obligations for investors. Da Nang is also actively engaging with central ministries and sectors to find solutions for projects encountering obstacles.
Regarding projects hampered by site clearance procedures, the People’s Committees of the respective districts and counties have been tasked with expediting compensation and site clearance, followed by the handover of land to investors.
In cases where projects are progressing slowly or have not commenced construction due to reasons attributable to the investors themselves, the Department of Natural Resources and Environment has been entrusted with inspecting land use progress, while the Department of Planning and Investment monitors project delays. Through this process, the city aims to identify and address the challenges faced by enterprises, taking appropriate action in accordance with regulations.
Ho Giap
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