Ben Tre revokes two RoK licences

Chairman of the southern Ben Tre provincial People’s Committee Nguyen Thai Xay on November 5 signed a decision to revoke the investment licences of two Republic of Korea (RoK) companies because they have not yet implemented their projects as committed.

The first company is the Hyeong Lee Viet Co., Ltd, which pledged to invest 1.2 million USD to build a factory to produce coal products for export from coconut shells in Mo Cay town under a licence granted on December 28, 2006.

The second is the Young Han Vietnam Co., Ltd, which received an investment licence on November 5, 2007 to build a 500,000 USD seafood processing factory in Binh Thang commune, Binh Dai district.

As of September 30, 2009, both companies have not yet implemented their projects under the granted licences.

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