The FLC Group Requests Quang Ngai to Return Over VND 80.5 Billion: What’s the Story?

In their correspondence to the provincial authorities, FLC Group stated that they had partnered with several companies to invest in six projects within the Van Tuong area. These projects, spanning over 137 hectares, entailed various legal procedures such as land surveys, detailed planning, environmental impact assessments, and design and construction drawings. The developers had also initiated the process of compensating for land clearance, incurring a total cost of over VND 80.5 billion.

Responding to the province’s call for voluntary project returns to facilitate a transparent investor selection process, the developers of the six projects agreed and submitted documents to terminate their involvement. The provincial authorities then issued a decision to officially terminate these projects in accordance with the law.

However, more than a year has passed since the voluntary project return, and FLC Group has not received any information, response, or guidance regarding reimbursement for the expenses incurred. Meanwhile, the sum of VND 80.5 billion is a significant amount and crucial for the group and its partners in the current context.

FLC Group asserted that until there is a plan to reimburse the aforementioned amount to the investors, Quang Ngai cannot proceed with selecting new investors for the projects. Given the positive changes during its restructuring process, FLC Group is confident in its ability to recommence these projects, which would not only benefit the group economically but also contribute to the province’s development. Additionally, FLC Group expressed interest in potential projects in Quang Ngai, especially in the fields of tourism, real estate, and infrastructure.