The Da Nang People’s Committee Vice Chairman, Mr Nguyen Ngoc Tuan, recently decided to revoke the investment licences of two construction projects due to delays in their implementation.  They are the public park and the underground parking projects in Nguyen Chi Thanh, Hung Vuong, Yen Bai and Nguyen Thai Hoc streets in Hai Chau District.

The developers are the Vien Dong Real Estate Company and its partners - the Vien Dong Investment Consultancy and Technology Transfer, the Trung Nam Construction Investment, and the Saigon Telecommunication and Technology companies.   The two projects were expected to cost 180 million USD in total.

The developers received their investment licences on 6 May 2008 for these projects from the city’s authorities, and their construction licences from the local Department of Construction on 17 July 2008.