Ho Chi Minh City: Aerial View of the Recently Reclaimed 3-hectare "Golden Land" Area of Vinataba

Morgana Lee Morgana Lee

Morgana Lee

Strategic Director and Investor

发布日期: 2024年2月24日
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(Dan trí) - Situated amidst the "golden land" area of District 5, Ho Chi Minh City, Vinataba's abandoned land has revealed a neglectful state.
The over 3-hectare land plot of Vietnam National Tobacco Corporation (now Vietnam National Tobacco Corporation - Vinataba Joint Stock Company) is located at 152 Tran Phu Street, District 5, Ho Chi Minh City.
The project has three facades facing Tran Phu - Le Hong Phong - Tran Nhan Ton streets, central roads with expensive prices in District 5.
With a large area, located in the "golden land" area of District 5, this land plot is planned to be developed into office buildings, commercial centers, services, hotels, and high-end apartments.
Granted the land since 2005, Vinataba later transferred the land use rights to Vina Alliance Limited Liability Company. However, according to the conclusion of the Government Inspectorate in late October 2022, Vinataba committed violations in project capital contribution.
Vinataba failed to reevaluate assets; disobeyed the Prime Minister's directives; violated laws on the transfer of state-owned enterprise assets when transferring nearly 3.1 hectares of land without the Prime Minister's permission; and did not conduct auctions for land use rights, risking state and enterprise money losses.
The Government Inspectorate recommended that the Prime Minister direct the State Capital Management Committee at Enterprises, together with the Ministry of Finance, Ho Chi Minh City People's Committee, Vinataba, and relevant ministries and sectors, to reclaim the land. If violations are found, legal proceedings will be initiated, and responsibilities will be considered, with disciplinary actions taken against organizations and individuals found to have violated regulations.
Following the Government Inspectorate's conclusion, on October 25, 2023, the Ho Chi Minh City People's Committee issued a decision to reclaim the land.
On January 10, 2024, the Ho Chi Minh City Land Registration Office also sent a document requesting Vina Alliance Limited Liability Company to hand over the original land use rights certificate, but the company has not yet complied.
As Vina Alliance Limited Liability Company did not comply with returning the land use rights certificate, the Ho Chi Minh City Department of Natural Resources and Environment announced the land reclaiming and cancellation of the land use rights certificate (red book) issued for the land plot.
For nearly 20 years since 2005 (when the land was granted), the project has not been implemented, with only corrugated iron fences surrounding it.
Over time, the corrugated iron sheets have become rusty and dilapidated. People utilize the space for sidewalk vending, parking, and receiving goods...
Moreover, improper sanitation practices often occur, leading to the degradation of urban aesthetics and affecting the lives of nearby residents.

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