Phan Dinh Phung Sports Center Project in District 3, Ho Chi Minh City
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The above content was stated in the Conclusion of the working session of Ho Chi Minh City People’s Committee Chairman Phan Van Mai about the Phan Dinh Phung Sports Center Construction Project.
Accordingly, on April 25, 2024, Mr. Phan Van Mai chaired the meeting of the Project Task Force to resolve difficulties related to the Phan Dinh Phung Sports Center Construction Project.
After hearing the report of the Department of Planning and Investment (Head of the Task Force), the opinion of Vice Chairman of the Ho Chi Minh City People’s Committee Duong Anh Duc, the Department of Culture and Sports and representatives of the Task Force members, Chairman Phan Van Mai agreed with the proposal of the Department of Planning and Investment to stop investing in the Phan Dinh Phung Sports Center Construction Project in the form of public-private partnership (BT Contract); switch to public investment.
Mr. Mai also assigned the Department of Culture and Sports to urgently preside over, coordinate with the Department of Finance, the Department of Construction and related units to review legal basis, review the work performed by the investor, and determine reasonable costs, which are in accordance with regulations to serve as a basis for negotiation, discussion, and consensus with the investor on how to conclude the termination in accordance with the principles of reasonableness, fairness, and regulations.
Assign the Department of Culture and Sports as the implementing agency of the Phan Dinh Phung Sports Center Construction Project at 8 Vo Van Tan Street, District 3 in the form of public investment; urgently organize the preparation of the project investment proposal dossier in accordance with the prescribed procedures; complete before July 2024 to submit to the City Council for approval of the project investment policy.
Assign the Department of Planning and Investment to guide the Department of Culture and Sports to perform its duties in accordance with the procedures prescribed by the Law on Public Investment; at the same time, advise the City People’s Committee on capital sources, capital balance, and capital allocation for the project during the period 2021-2025; strive to complete the investment procedures and start the project before April 30, 2025 to be one of the typical works of the City to celebrate the 50th anniversary of the Liberation of the South, the reunification of the country.
Previously, answering questions at a recent session of the Ho Chi Minh City People’s Council, Mr. Phan Van Mai admitted: “Anyone in the city who goes back and forth to see the Phan Dinh Phung sports center has a “sore eye”, and I personally feel very uncomfortable with this issue”.
The Phan Dinh Phung Sports Center Project was approved by the Prime Minister in the form of BT investment since 2008 and was implemented in March 2010 with a public investment level of 988 billion VND.
In 2013, the project cost was inflated to 1,352.7 billion VND, then the Ho Chi Minh City People’s Committee requested to add the land at 3-3 bis Phan Van Dat (District 1) to pay the investor.
By 2016, the feasible investment capital of the project amounted to more than 1,953 billion VND, twice as much as the initial amount; Ho Chi Minh City continued to ask to add a 3-hectare land area at Phu Tho racetrack to pay for the contract.
Currently, the land proposed for BT contract payment for the Phan Dinh Phung sports center project are the land at Tran Hung Dao Street, Phan Van Dat Street, 181 Dien Bien Phu Street (Binh Thanh District), and the land at 72/2B Vo Van Ngan Street (Thu Duc City).
In 2017, with the approval of the Ho Chi Minh City People’s Committee, the project implemented test piles and pile static tests for the most effective implementation method. However, the official contract has not been signed yet, so the investor cannot deploy the project.
Speaking at the 2024 Annual Shareholders’ Meeting on April 26, Chairman of the Board of Directors of Phat Dat Real Estate Development JSC (HOSE: PDR) Mr. Nguyen Van Dat said that Ho Chi Minh City wanted to take back the Phan Dinh Phung sports center project, but PDR still wants and is legally qualified to implement this project, so they need to continue discussing.
