Hanoi cracks down on stagnant projects
Hanoi Chairman Nguyen Duc Chung on August 13 said they would cancel 47 stagnant projects, some of which were 17 years behind schedule.
The Tan Hoang Minh Group was given an 8,000-square-metre land plot on Lo Duc Street to build a high-rise building nearly 10 years ago but nothing has started yet. The group was also given a 4,000-square-metre land on Hang Bai Street years ago. It also wanted to build a high-rise building there but its proposal was refused due to height limits. The group then proposed a hotel as an alternative
"We are lacking hotels so the proposal was approved. The investor is completing the design and we'll speed up legal procedures so that the construction will be started soon," Chung said.
Investors have been asked to explain why their projects remain moribund and propose solutions. The city authorities will allow feasible projects to continue but will cancel those with severe problems.
According to Chung, they had talked with the investors of 22 high-rise building projects in Cau Giay District eight times to see whether they have enough capital. "We gave them a deadline to August 30 to answer us. If they don't have the money, we'll cancel the projects," he said.
Nguyen Thi Ngoc, chairwoman of Hanoi People's Council, said up to 383 projects were stagnant mostly because of problems in ground clearance, planning and financial shortcomings. The authorities were also to blame, especially consulting agencies, for letting land law violations occur.
Ngoc went on to say that there were problems in the implementation of regulations and agreed that Hanoi must cancel stagnant projects.
Hanoi Chairman Nguyen Duc Chung speaks at a regular meeting on August 13
The Tan Hoang Minh Group was given an 8,000-square-metre land plot on Lo Duc Street to build a high-rise building nearly 10 years ago but nothing has started yet. The group was also given a 4,000-square-metre land on Hang Bai Street years ago. It also wanted to build a high-rise building there but its proposal was refused due to height limits. The group then proposed a hotel as an alternative
"We are lacking hotels so the proposal was approved. The investor is completing the design and we'll speed up legal procedures so that the construction will be started soon," Chung said.
Investors have been asked to explain why their projects remain moribund and propose solutions. The city authorities will allow feasible projects to continue but will cancel those with severe problems.
According to Chung, they had talked with the investors of 22 high-rise building projects in Cau Giay District eight times to see whether they have enough capital. "We gave them a deadline to August 30 to answer us. If they don't have the money, we'll cancel the projects," he said.
Nguyen Thi Ngoc, chairwoman of Hanoi People's Council, said up to 383 projects were stagnant mostly because of problems in ground clearance, planning and financial shortcomings. The authorities were also to blame, especially consulting agencies, for letting land law violations occur.
Ngoc went on to say that there were problems in the implementation of regulations and agreed that Hanoi must cancel stagnant projects.
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