Licenses of normal steel projects temporarily halted

Localities and relevant ministries of industry and trade and natural resources and environment have been requested to strengthen the work on granting investment licenses to steel projects in localities while at the same time, temporarily halt the grant of investment licenses to normal steel projects.

This is according to a document signed by Deputy Prime Minister Hoang Trung Hai.

Only those steel projects that ensure sufficient iron ore materials and high-quality steel projects are subjected to consideration for investment approval, says the document.

Localities are asked to review carefully the already licensed steel projects and work out measures to deal with those projects that have yet to be carried out according to committed progress and failed to find sufficient materials to maintain long-term production.

The Ministry of Natural Resources and Environment is responsible for checking the sources of materials for licensed steel projects and based on that, making proposals to deal with those projects that do not have enough materials for long-term production.

The Deputy PM also asks the Ministry of Finance, the Ministry of Natural Resources and Environment and the Ministry of Industry and Trade to set natural resources, environmental, import and export tax duties for steel products, based on their estimates of the country’s iron ore reserves, domestic production capacity and demands and the current taxation policies.

VietNamNet/ND

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