Prime Minister Nguyen Xuan Phuc addresses the meeting (Photo: VNA)

According to a report at the meeting, currently, three projects have been excluded in the supervised list, while a number of projects have become operational but with difficulties and losses, and some others have not been completed or halted operation.

Meanwhile, five projects have suffered disputes in EPC contract despite many negotiations. The Ministry of Industry and Trade (MoIT) explained that due to the incomplete settlement of EPC contracts, there is still a lack of legal foundation for the divestment of capital from the projects.

At the meeting, PM Phuc asked the MoIT to submit solutions to the failed Phuong Nam Pulp Mill project by March 10.

Due to the complication of other projects, the PM asked the Committee for Management of State Capital at Enterprises to give more detailed proposals.

He asked relevant agencies to strictly implement the conclusions in the work, especially in assigning the Committee for Management of State Capital at Enterprises to deal with the remaining projects, including three managed by the Vietnam National Chemical Group.

He requested groups and corporations to restructure projects in the direction of minimising negative impacts on the State budget and ensuring the rights of labourers as well as national security, defence, environment and social stability.

For projects with no possibility of settlement, it is necessary to sell and dissolve them or allow their bankruptcy in line with the law to reclaim the State property, he stressed, asking the Steering Committee to submit a list of projects with no hope of recovery for timely settlement./.VNA

Stricter rules over “ghost projects”

The Ministry of Construction will coordinate with localities to further inspect and investigate to detect, prevent, and punish “ghost” real estate projects in a timely manner.