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

In the document sent to Quang Ngai Province, FLC Group stated that they had partnered with several joint-stock companies to invest in six projects in the Van Tuong area. The province had allocated a total land area of over 137 hectares for these projects. The investors had carried out various legal procedures, including land surveys, detailed planning at a 1/500 scale, environmental impact assessments, and obtaining fire safety certificates, among others. They had also initiated the site clearance process and spent a total of over VND 80.5 billion.

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

However, it has been over a year since the investors voluntarily returned the projects to the province, and FLC Group has not received any information, feedback, or guidance regarding reimbursement for the expenses incurred. While the amount of VND 80.5 billion is significant and crucial for the group and its partners in the current context, there has been no progress on this matter.

FLC Group asserted that until there is a plan to reimburse the above amount to the investors, Quang Ngai Province cannot organize the selection of new investors to continue the related projects. With positive changes in its restructuring process, FLC Group is confident in its ability to restart these projects, which would not only bring economic benefits to the group 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.