Officials to be disciplined for wrongful land sale

04-Oct-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

The HCM City Department of Home Affairs will be in charge of mapping out a plan to discipline individuals, organisations and former officials involved in illegally selling some 5,000 square meters of land lots at 8-12 Le Duan Street in HCM City’s District 1, reported Nguoi Lao Dong newspaper, quoting the head of the HCM City People’s Committee Office Vo Van Hoan.

At a press conference on October 1, Hoan said that after receiving first deputy prime minister Truong Hoa Binh’s final word on the case, the municipal government started mulling and taking disciplinary action against the related individuals.

The government assigned the Department of Natural Resources and Environment to take back the land and put it up for auction, while the Department of Home Affairs is responsible for disciplining the related individuals, organisations and former officials who violated regulations on guiding and completing the project.

The city will publicise the case without concealing any details, Hoan said.

The land on Le Duan Street is in a prime location in HCM City. In 2007, the HCM City Housing Development and Trading Joint Stock Company was assigned to manage and lease the site to four companies operating under the Ministry of Industry and Trade.

The four companies, which later became the founding shareholders of Lavenue, transferred the site to Kido Investment Company Limited in 2010.

The HCM City government in June 2011 agreed to allow Lavenue to use the 4,896-square-metre site to develop a complex of hotels, retail outlets and apartments for lease within 50 years.

The government Inspectorate in 2015 proposed appointing the HCM City chair to review and strictly apply instructions based on the inspection results of a high-end mixed-use property development project at 8-12 Le Duan Boulevard, including addressing violations in the handover of land and land leases. The four companies transferred the project for a profit of VND200 billion.

According to the government Inspectorate’s Conclusion Report 138 in 2016, the city government should have auctioned the land use rights and assets at the site.

The overall responsibility rests with the Standing Board of the HCM City government during the 2011-2015 tenure, and direct responsibility lies with Nguyen Thanh Tai, the vice chair of HCM City at the time, the government Inspectorate confirmed.

The government Inspectorate proposed taking back the site and handing down penalties to those responsible in the HCM City government, the relevant agencies and enterprises caught violating the law. It also proposed confiscating the illegal gain of VND200 billion.


Category: Business, Vietnam

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