On November 8, Mr. Nguyen Van Hung, Head of the Phu Yen High-Tech Application Agricultural Zone Management Board, made the decision to cease operations, revoke certifications, and modify the investment registration dating back to 2019 for the Fam - Phu Yen High-Tech Agriculture project of FLC Biscom Agriculture Company Limited. The investment termination was prompted by the investor's inability to overcome the conditions for discontinuation as per the Investment Law.
According to the records, the project was initially granted an investment registration certificate on February 20, 2019, and the first amendment certificate was issued on August 16, 2019. The project had an area of 93.99 hectares and a total capital of VND334 billion, divided into two phases. The project's primary goal was to cultivate and produce clean, safe, high-quality vegetables and fruits, along with the preservation, processing, and enhancement of agricultural products using advanced and modern technology. On September 14, 2022, FLC Biscom Agriculture Company Limited requested a reduction in the project's scale from 93.99 hectares to 26.65 hectares. However, when requested to provide financial capacity reports for the past two years, this company was unable to do so and only submitted financial statements from the owner company, FLC Homes Real Estate Development and Investment Joint Stock Company. As a result, after more than four years since its inception, the project still remains undeveloped land.
