VietNamNet Bridge – Tay Ninh Provincial People's Committee has revoked 307.5ha of land from two foreign-invested projects.

Tay Ninh Agricultural Development Company has lost a total area of 49.5ha while Taiwan's Taichi Biotech Limited Company has lost 258ha.

The action is a result of the fact that investors had failed to use the land effectively, and had long term outstanding debts, said Committee Chairwoman Nguyen Thi Thu Thuy.

Tay Ninh Agricultural Development Company was granted a 20 year license in 1995 to plant and process fruit and vegetables for export, but after five years, the company was found to have been using the land for other purposes.

Similarly in 2004, Taichi Biotech Limited Company was allocated 685ha of land to cultivate flowers, herbs and grass.

The committee has revoked the land that is not being used by the company.

The provincial Planning and Investment Department and other related bodies will also carry out inspections and assess whether the rest of the land is being used efficiently.

VietNamNet/Viet Nam News