The Ba Ria-Vung Tau People’s Committee has agreed in principle to withdraw Good Choice USA-Vietnam Co’s US$1.3 billion investment licence for a tourism project in the southern coastal city.

The decision was made after the provincial Department of Planning and Investment consulted other local departments about ways to speed up the slow moving project, which has been moving at a snail’s pace for the last four year.

“We have sent two documents to the project’s investor, Good Choice USA-Vietnam Co, asking the enterprise to complete the procedures required to liquidate the project,” Dang Minh Thong, the department’s deputy director, said.

“After this, we will petition the People’s Committee to make a final decision on revoking the project’s licence. We have yet to receive a response from the firm,” he said.

The Vung Tau Wonderful Theme Park Project includes a five-star hotel with 2,500 rooms, several four-star hotels with 4,000 rooms, an entertainment park and a convention centre.

The project, one of the biggest in the province, has failed to get off the ground since an investment licence was granted in February 2008.

“We have failed to contact the representatives of the investor, an affiliate of California-based Good Choice USA, in Vietnam,” Thong said.

“After the licence is revoked, the province will keep development plans for the site unchanged, and will call for local and foreign investment,” he added.