Delays cause HCM City to cancel permits

The People's Committee of HCM City has asked relevant authorities to take necessary steps to revoke licences granted to two golf course projects because of delay in their implementation.

The two projects are the 18-hole Vuon Dua course in District 9's Long Truong Ward and the 27-hole course in the Hiep Binh Phuoc Entertainment Park in Thu Duc District.

According to the municipal Department of Planning and Investment (DPI), the Vuon Dua Golf Course, a joint venture between Saigontourist Holdings Co, Thu Duc Tourism Service Co, and Thanh Nhon Real Estate Co on the Vietnamese side and Viet Nam Ventures Ltd as the foreign partner, was licensed in September 2007. The course, located on 156 ha, has a registered capital of US$45.6 million.

The other golf course project, licensed to Yonwoo-Van Phuc Ltd by HCM City authorities in October 2007, is located on 160ha in Thu Duc District's Hiep Binh Phuoc Ward.

According to the investment law, licences for projects can be revoked if investors do not start construction work on them within 12 months of receiving the licences.

The department has said the city will also consider revoking the licence for the Sing-Viet Golf Course in Le Minh Xuan Commune, Binh Chanh District, if the investors do not start construction of the 18-hole golf course project by August 2009 as scheduled.

In the report released during a meeting with HCM City People's Committee on February 19, DPI said six of the seven licensed golf course projects in HCM City remained unfinished and five of them were still at the land compensation/clearance stage.

These licensed golf course, projects cover 725 ha in the districts of Cu Chi, Tan Binh, Binh Chanh, Thu Duc, 2 and 9.

Five of them are invested in by foreign firms and the remaining two developed by local investors.

VietNamNet, Viet Nam News

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