The Golden Wasted Opportunity: A Series of Underutilized Public Assets in Hanoi

The misuse and subsequent waste of public assets is a pressing issue that has been brought to light by the Hanoi City People's Council. Despite their efforts to address this problem and propose solutions, the situation remains stagnant, with no significant progress made thus far.

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46 Tran Hung Dao, Hoan Kiem District, the tenant is The Gioi Publishing House.

The tenant is currently in arrears with many financial obligations, owing over VND 18.5 billion in rent and more than VND 19.5 billion in land rent.

Although the tenant has requested to return the house, they have not yet handed it over.

Located at 36 Ba Trieu, Hoan Kiem District, the Hanoi People’s Committee has decided to retrieve the property and assigned the Hoan Kiem District authorities to enforce the decision. However, it has not been carried out yet.

The complex at 6 Nguyen Cong Tru, Hai Ba Trung District, is currently undergoing an inspection.

42 Hang Duong, Hoan Kiem District.

This 3-story house is located in a prime location in the ancient town of Hoan Kiem.

The user unit, Tien Thanh Cooperative, is uncooperative and in arrears with many financial obligations.

35 Dien Bien Phu, Ba Dinh District.

Located in the golden position in the center of Ba Dinh District, this house is currently for rent.

The specialized house at 281 Doi Can, Ba Dinh District, is determined to be leased to organizations and individuals for business purposes. Failure to pay rent is a violation of regulations on the management and use of state-owned housing funds for business and service purposes in Hanoi. In addition, 281 Doi Can is identified by Hanoi as a city-managed villa, leased to businesses, and not for sale.

It is also worth mentioning the non-budget capital projects that are slow to implement. At 2-4 Doi Nhan, Ba Dinh District, more than 3,500 m2 of land, which is a state asset, is used inefficiently by the Hanoi Food Company. The city has assigned this land to ICC Company to implement a project to build office and residential buildings.

However, after 22 years of being allocated the land, the project has not been constructed and has become an unlicensed parking lot.

The project site has turned into a massive parking lot for cars and motorcycles.

The multi-functional building at 131 Thai Ha, Dong Da District, was started in 2008 on an area of more than 6,700m2.

Up to now, the construction is still temporarily suspended.

The basement behind the building has become a parking lot.

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