Two public-funded projects scrapped due to lack of fund

Two public-funded projects in Vietnam, worth 33 trillion dong, have been scrapped. The first project involves the development of an international transhipment seaport at the Van Phong Economic Zone by Vietnam National Shipping Lines (Vinalines). The construction work that commenced in October 2009 was stalled in 2010 due to a lack of funds. The second project entails the construction of an oil and gas services base by the Sao Mai-Ben Dinh Petroleum Investment joint stock company, a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam). The project that is also in the Van Phong Economic Zone was estimated to cost 26 trillion dong; it was scheduled to be completed by 2017. These projects have been scrapped because of paucity of fund and delays.