US investor sues Vietnam province for breach of contract

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A US investor has filed a lawsuit against the government of a central Vietnamese province for giving its project land for titanium excavation, the local government confirmed Saturday.


Le Tien Phuong, chairman of Binh Thuan Province People's Committee, said the law firm Dardenne & Boyd is representing the South Fork Company in suing the committee.


The law firm said that the committee has violated a contract it signed earlier.


In 2004, Vietnam's Ministry of Investment and Planning gave South Fork the approval to invest in a tourism and service complex on an area more than 600 hectares in the province.


But Binh Thuan government later said that there were signs that the project were illegally transfered, and allowed another company to excavate titanium in the area.


The Prime Minister has asked the invesment ministry, concerned agencies and Binh Thuan government to look into the first project.


Binh Thuan has also invited the law firm to Vietnam for negotiations but has not received any response.


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