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NEWS UPDATES Asean Affairs   May 15, 2018  






Paper factory’s investment certificate to be revoked


The People’s Committee in central Quang Ngai Province has asked the provincial Department of Planning and Investment to revoke the investment certificate of Tân Mai Pulp and Paper Factory.

The committee has requested the department to issue a written termination of investment in accordance with the provisions of the 2014 Investment Law.

The decision was taken after the factory failed to operate in time.

Deputy director of the factory Le Quang Phuc said thousands of tonnes of machinery and equipment had been abandoned and exposed to sunlight for five years because the factory had not operated.

The factory had rented nine workers to maintain and protect the machinery and equipment, he said.

The project was granted an investment certificate in March 2009 and was scheduled for completion in 2011. Construction kicked off in July 2010 but had to be suspended in 2012.

The investor’s identity has not been disclosed.

The factory, which was expected to be the largest project in Viet Nam’s paper sector, was designed to produce 130,000 tonnes of pulp and 200,000 tonnes of paper per year. The initial investment was VNĐ1.95 trillion (US$85.43 million), of which 30 per cent came from the investor and the remainder was from loans. After an adjustment of five times, the investment capital was increased to more than VNĐ5 trillion.


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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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