Formosa awarded improper lease: gov’tHa Tinh Province’s authority violated regulations by granting the Taiwanese-owned Formosa company a 70-year land lease, Deputy Government Inspector General Ngo Van Khanh said at a regular press conference yesterday. The Prime Minister later gave approval to keep the 70-year period, as it was in accordance with Investment Law 2014, which replaced Investment Law 2005. “The Ha Tinh authority granted Formosa the permission in 2012 when the Formosa project was not approved by the Prime Minister. The Deputy Government Inspector General added that following the inspection, the Government Inspector had asked the Ha Tinh authority to hold those involved accountable. Ha Tinh Province’s authority violated regulations by granting the Taiwanese-owned Formosa company a 70-year land lease, Deputy Government Inspector General Ngo Van Khanh said at a regular press conference yesterday.

Source: VietNamNet News July 23, 2016 05:37 UTC