Vietnam Province IPs Revoke Licenses of 4 Foreign Firms in 2009
Authorities of Vietnam’s central province of Bac Ninh-based industrial parks (IPs) revoked licenses from China’s ESE Ltd, Hong Kong’s Polytechmer Vietnam, South Korea’s World Latex and Fuji Casting Company in 2009.
These are among the 13 projects valued at US$23.27 million local authorities decided to revoke licenses because of sluggish implementation.
The provincial IPs’ management board has to date revoked 51 licenses of foreign and domestic firm.
By end-June of 2009, the provincial authorities licensed 356 projects in IPs, including 151 foreign-owned projects costing US$2.9 billion and 12 infrastructure projects valued at US$642.6 million. (Thoi bao Kinh te Jan 11 p3)
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