Lam Dong halts call for investment into privately-funded projects

The Lam Dong Province People’s Committee said Tuesday it had stopped calling for investment in most projects funded by private capital due to the sluggish progress made on several major works.

Some projects in the Central Highlands province began several years ago but were far from completion, said the committee. Large amounts of capital were announced at the outset of many major projects, but few of the funds have actually been disbursed, according to the local government.

The committee said that without the funds, the projects had become burdens rather than economic stimuli.

The cancellation of capital attraction programs includes those calling for investment in forestation, agricultural production and ecotourism.

But the committee also said it would continue calling for private investment in state-run hydroelectricity and cold-water fish breeding projects.

Already-planned investment into industrial zones currently being implemented will continue to flow, but progress will be strictly monitored to ensure compliance with project plans and schedules, the committee said.

Gia Binh

thanhnien

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