The Department of Natural Resources and Environment (DNRE) of Ho Chi Minh City has announced the revocation and cancellation of the Land Use Rights Certificate for the land area at 152 Tran Phu, Ward 4, District 5. This is considered the “golden land” in District 5, Ho Chi Minh City, as it has three facades facing Tran Phu, Le Hong Phong, and Tran Nhan Ton streets.
The Land Use Rights Certificate for the land area was issued to Vietnam National Tobacco Corporation (Vinataba) on January 19, 2009 by the DNRE.
The land area is 30,972.7m2 and is intended for the construction of office buildings, commercial centers, services, hotels, and high-end apartments.
Vinataba was granted the land area certificate for 152 Tran Phu in January 2009. (Photo: Chi Hung) |
After receiving the land use rights certificate, Vinataba contributed this land area to Vina Alliance Company in August 2005.
In accordance with the conclusion of the Government Inspectorate, on October 25, 2023, the People’s Committee of Ho Chi Minh City decided to revoke the land area.
On January 10, 2024, the Land Registration Office of the city also sent a letter requesting Vina Alliance Company to promptly hand over the original land use rights certificate. However, the company has not yet complied.
Due to Vina Alliance Company’s failure to return the land use rights certificate for 152 Tran Phu, the DNRE announced that this certificate no longer has legal value.
This is considered the “golden land” in District 5, Ho Chi Minh City. (Photo: Chi Hung) |
After receiving the land use rights certificate, Vinataba contributed this land area to another business. (Photo: Chi Hung) |
Vinataba is a state-owned enterprise of special importance, operating as a Limited Liability Company with Multiple Members (LLC) in which the state owns 100% of the charter capital.
On November 10, 2018, the Ministry of Industry and Trade transferred the ownership representation rights of this company to the State Capital Management Committee at enterprises.
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In the inspectorate’s conclusion on the compliance with laws in capital management, use, divestment, and restructuring at Vinataba, which was announced on October 10, 2022, the Government Inspectorate pointed out a series of violations by the company regarding the investment and construction of the land area at 152 Tran Phu. Specifically, Vinataba did not reassess assets in accordance with the regulations on state-owned enterprise asset management; violated the government’s direction by transferring 30,927.7m2 of land at 152 Tran Phu without seeking opinions. Furthermore, Vinataba did not conduct a public auction of the land use rights for this area, posing a risk of loss to the state and the company. The Government Inspectorate recommended that the Prime Minister direct the State Capital Management Committee at enterprises to lead and coordinate with the Ministry of Finance and the People’s Committee of Ho Chi Minh City in revoking the land area at 152 Tran Phu. “If signs of criminal offenses are discovered during the implementation process, or if the revocation is not completed by December 31, 2023, it should be transferred to the investigating agency and the Ministry of Public Security for investigation and handling in accordance with the law,” the conclusion of the Government Inspectorate stated. |
Anh Phuong
