Authorities said economic zones and industrial parks in the province have attracted 535 projects with total registered investment capital of VND245.997 trillion (about USD 9.84 billion). However, only VND66.847 trillion (about USD 2.67 billion) has been disbursed so far, equivalent to 27% of the registered capital.
The projects span infrastructure development and business ventures by both domestic and foreign investors, located in Nhon Hoi Economic Zone, Le Thanh International Border Gate Economic Zone, and 12 industrial parks in the province.
Officials say the large gap between registered and implemented capital suggests that many investors have not prioritized project execution, while post-inspection, support and monitoring activities remain insufficient.
Long-delayed projects
Several projects have been under implementation for years but remain incomplete with limited capital actually invested.
One example is the Nam Pleiku Industrial Park infrastructure development and business project, covering nearly 200 hectares with a total registered investment of VND476.62 billion (about USD 19.06 million). The project has been implemented by Chu Se Rubber One Member Limited Liability Company since 2019.
To date, however, only more than VND113 billion (about USD 4.52 million) has been disbursed. The lack of essential technical infrastructure has significantly affected the operations of secondary investors.
Nguyen Van Hai, General Director of Chien Thang Joint Stock Company, which invested in a ready-mix concrete plant at the industrial park, said the facility has struggled with basic utilities.
“The industrial park lacks water and electricity, so since 2021 our company has had to purchase generators and arrange our own water supply for production”, Hai said.
He added that incomplete internal roads in the industrial park have complicated transportation and product distribution, increasing input costs and affecting the company’s production and business activities.
Fragmented investment elsewhere
In the eastern part of the province, investment has also proceeded slowly across a number of large-scale tourism and development projects.
These include the Cat Hai Bay luxury resort, Phu Hau-Cat Tien resort, convalescence, rehabilitation and amusement park, the Outward Bound Vietnam life skills education center, and several projects developed by FLC Group and its subsidiaries.
Another notable case is the Nhon Hoi Industrial Park (Zone B) infrastructure development and business project, invested by Hong Yeung Vietnam One Member Limited Liability Company. Although the project received its first investment certificate on Feb. 8, 2007, its infrastructure remains incomplete.
The prolonged delay has resulted in inefficient land use and negatively affected construction output, industrial production value, state budget revenue and job creation.
Authorities tighten oversight
Nguyen Tu Cong Hoang, Vice Chairman of the Provincial People’s Committee, said two main factors explain the low disbursement rate: limited capacity among some investors and shortcomings in project appraisal and evaluation by state management agencies.
The provincial government has instructed the Provincial Economic Zone Authority and relevant departments to accelerate project implementation while strengthening monitoring, post-inspection and support for investors. Projects that fail to meet commitments may face revocation.
Authorities are currently reviewing and categorizing delayed projects to identify specific causes and apply appropriate solutions.
Projects facing site clearance difficulties will receive procedural guidance, while investors will be required to prepare sufficient funds for land compensation. Local governments will also coordinate to resolve land recovery and compensation issues to ensure clean sites are handed over to investors.
For projects facing legal obstacles, the Economic Zone Authority will seek guidance from the Provincial People’s Committee while urging investors to concentrate resources on implementation.
Projects delayed due to financial constraints will be required to commit to synchronized implementation schedules. Continued delays could result in legal action, including revocation of investment licenses.
“In the coming period, we will comprehensively reassess all projects based on five criteria: technical infrastructure, project progress, financial capacity, occupancy rate and investment attraction quality”, said Nguyen Thanh Nguyen, Deputy Head of the Provincial Economic Zone Authority.
The review aims to identify capable investors and ensure that registered capital is translated into real economic value for the province, he said.
“Our stance is to create favorable conditions for businesses while firmly handling those that fail to meet their commitments”.