On April 7, the People's Committee of Quang Binh province informed that it had just issued a decision approving the investment policy for the Cam Thuy Restaurant, Hotel and Ecological Resort project in Cam Thuy commune, Le Thuy district. The project has a total investment of 210 billion VND and is expected to contribute to promoting tourism, creating jobs and developing the local socio-economy.
The project is implemented in Cam Thuy commune, on a land area of nearly 70,000m2. The construction scale includes items such as resorts, villas, bungalows, administrative areas and auxiliary works, entertainment areas, green parks, outdoor sports areas and multi-purpose houses.
The project will be selected by investors through the form of land use right auction, in accordance with the law on land. According to the progress approved by the Provincial People's Committee, the completion of the land use right auction procedure must be completed within 12 months. After that, investors had 36 months from the date of being leased land to complete construction and put the project into use.
The People's Committee of Quang Binh province informed that the winning investor is responsible for working with the Department of Finance to make an investment guarantee deposit according to the Investment Law, within 6 months from the date of winning the auction. In addition, investors must develop detailed plans for project land, complete environmental procedures and fully comply with legal regulations related to land, investment, construction, tourism, fire prevention and fighting, etc.
According to the Department of Finance of Quang Binh Province, within 24 months from the date of winning the auction, if the investor does not complete the land lease procedure to implement the project, the investment policy decision will no longer have a legal value. In this case, investors will not be compensated for any costs related to investment activities.
