According to the inspection agency, the land and property at 53 Dong Anh Town were established as state-owned. The Company is a state-owned enterprise, and the state leased the land to the company on an annual payment basis for the purpose of using it as a production and business facility. However, the company changed the land use purpose without the written agreement of the Ministry of Finance, which is not in compliance with the Prime Minister’s Decision No. 86/2010/QD-TTg dated December 22, 2010.
At the same time, the Ministry of Transport approved the Company to use the land and property to contribute capital and cooperate with Vinalines Real Estate Joint Stock Company to establish a new legal entity to implement the Project of Commercial, Service and Housing Area 1/5, which is not in line with the rights and obligations of the lessee paying annual land rent as prescribed in Article 175 of the 2013 Land Law.
In addition, the Ministry of Transport had Document No. 7119/BGTVT-QLDN dated July 18, 2013, agreeing on the content that Dong Anh Urban Development Joint Stock Company has the obligation to pay the Company VND 213 billion, which is the corresponding value of the commercial land advantage, the assets on land, and the support for relocating the factory to a new location.
The Company used VND 69.3 billion, which was deducted from the above amount, to contribute capital to the charter capital of Dong Anh Urban Development Joint Stock Company, and the remaining amount of VND 143.7 billion was used for the purpose of relocating and completing the new factory in Nguyen Khe Industrial Cluster, Dong Anh district. However, the VND 213 billion obtained from the land has its origin from the state, so the Ministry of Transport’s agreement to use it as mentioned above is not in line with the guidance of the Ministry of Finance in Document No. 14280/BTC-QLCS dated October 19, 2012, and not in line with the principle of creating sources and using capital obtained from the old location prescribed in Clause 2, Article 3 of Decision No. 86/2010/QD-TTg.
Also, according to the inspection conclusion, the People’s Committee of Hanoi City did not change the land use purpose, determine the land use fee, and decide on the land recovery and handover for the Company to implement the joint venture. However, they decided to collect and hand over the land at 53 Dong Anh Town to Dong Anh Urban Development Joint Stock Company to implement the Project of Commercial, Service, and Housing Area 1/5, which is not in accordance with the regulations.
Along with that, the People’s Committee of Hanoi City issued Decision No. 5808/QD-UBND dated October 26, 2018, determining the land price according to the surplus method with the compared assets not having similar characteristics with the assessed assets; not yet expected and taking into account the trend and volatility of market prices to estimate the project’s selling price suitable to reality; the selling price used in development revenue is only the individual price of the compared asset, not the average price, which is not in accordance with regulations…
“Thus, the land and property at 53 Dong Anh Town, which was under the management and use of the Company, has transferred assets without auction, changed the land use purpose without the consent of the competent authority; the Ministry of Transport agreed on the relocation plan, which is not in line with the guidance of the Ministry of Finance; Hanoi City People’s Committee decided on land recovery, land handover, and land use fee determination, which is not in accordance with regulations,” the inspection conclusion stated.
The above-mentioned problems occurred due to the responsibility of the leaders of the Company, the People’s Committee of Hanoi City, and the Ministry of Transport.
According to advertisements, the Project of Commercial, Service, and Housing Area 1/5 (commercial name Happy Land) at 53 Dong Anh Town has a scale of nearly 7.7 hectares with 346 adjacent houses located near National Highway 3.
According to observations, the project is basically completed with many adjacent houses occupied.
However, inside the project, there are still dozens of villas that are completed with exterior finishes but left abandoned, with weeds growing wildly.
Some unconstructed land plots are being utilized by local residents for vegetable gardening.
According to surveys, the adjacent houses in the Happy Land Dong Anh project are being offered for sale at prices ranging from VND 75-90 million/m2 depending on the location.
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