HCM City revokes 15 FDI licences

Fifteen foreign invested projects with total investment of over US$93.8 million in HCM City had their licenses revoked in the past nine months, according to the city’s planning and investment department.

Main reasons are that most of the projects were licensed long ago but either have not been implemented or have not had any capital contributed from foreign partners. Only three asked to pull out because of ineffective operations.

 

Category: Business