Real estate projects to be probed

vietnamnews

Update: May, 13/2017 – 03:00
Villas at the Pandora residential area, located at No 53 on Triều Vũ Street in the capital city’s Thanh Xuân District. — Photo batdongsan.com.vn
HÀ NỘI — Deputy Prime Minister Vương Đình Huệ has ordered inspections on some 60 real estate projects this year over suspicions of land misuse by equitised enterprises.The projects have showed signs of violations of the Land Law, and their calculation of land use levy and land rental prices is not close to market prices, causing losses to the State budget, according to the Ministry of Finance (MoF).

The Deputy Prime Minister asked the MoF to provide the Government Inspectorate with a list of the properties and their registered land use purpose for the inspections.

He also requested the Ministry of Environment (MONRE) collaborate with concerned ministries and authorities to propose amendments to a regulation on the auction of land use rights in the 2013 Land Law, in accordance with regulations on land acquisition.

Twenty-five of the 60 properties to be inspected are in Hà Nội, 13 in HCM City, and the remaining 22 are in seven other localities.

The MoF has listed a number of properties in the capital city that have not paid their full taxes to the State.

The villa project Pandora, located at No 53 on Triều Vũ Street in Thanh Xuân District, has a land use debt of some VNĐ145 billion (US$6.4 million), while the Hồng Hà Tower apartment complex, located at No 89 on Thịnh Liệt Street in Hoàng Mai District owes VNĐ175 billion ($7.7 million).

The Orchard Garden apartment and office complex, located at No128 on Hồng Hà Street in HCM City, drew public attention last year for carrying out construction without permission and not paying taxes. Its land use value has been identified to be some VNĐ123 billion ($5.4 million) at the moment, an equivalent of VNĐ28.5 billion ($1.3 million) per sqm.

Reports by MONRE show several State-owned properties in Hoàn Kiếm, Tây Hồ, Hai Bà Trưng and Hoàng Mai districts whose functions were altered have been abandoned in the last five years.

A number of enterprises purposefully omitted the value of their land in prime locations when calculating their enterprise value during equitisation, causing public anger, according to reports.

The Government’s Inspectorate decided in March to conduct a 70-day inspection on a number of issues related to land use in Hà Nội. The inspection started on March 7.

Twenty-three other official inspections and six backup ones on altering functions of State-owned lands and properties will be conducted this year in HCM City, central Khánh Hòa Province and coastal Đà Nẵng City. — VNS

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This entry was posted in Anti-corruption - Chống tham nhũng, Corruption - Tham nhũng, Governance - Công quyền, Land grab - Cướp đất and tagged , , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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