Khanh Hoa People's Committee has just issued a decision to approve an investor selection plan at 48-48A Tran Phu Street, Loc Tho Ward, Nha Trang City...
Khanh Hoa People’s Committee has just issued a decision to approve an investor selection plan at 48-48A Tran Phu Street, Loc Tho Ward, Nha Trang City. The golden land has been left fallow for nearly 10 years due to problems related to legal procedures.
 |
| 48-48A Tran Phu Street. |
Problems related to legal procedures solved
The use right of 3.642.2m2 plot was auctioned by Khanh Hoa Council for Land Use Right Auction in 2008 and Agribank Printing, Trade & Service Company (presently Agribank Service Company) won the contract at a cost of VND221.672 billion. The company contributed VND236.619 billion to the provincial budget.
However, the land was then distrained due to the investigation done by the Ministry of Public Security over the case of Agribank Printing, Trade and Service Company’s intentional violations of State regulations on economic management, resulting in serious consequences. Since then, the plot located on the corner of Tran Phu Street and Nguyen Thi Minh Khai, opposite 2-4 Square, has been left fallow for several years. In 2015, Khanh Hoa People’s Committee had a proposal on removing the distrainment order at 48-48A Tran Phu Street to soon withdraw the State property and effectively use the land.
After the distrainment was removed in late 2015 by the Ministry of Public Security, Khanh Hoa People’s Committee issued a decision to withdraw the plot and entrust the land management to Khanh Hoa Center for Land Fund Development. Khanh Hoa People’s Committee directed local authorities to give urgent solutions to problems related to the land and find competent investors in the land, contributing to the landscape attraction and socio-economic development in Nha Trang City.
Minimum investment of VND1,250 billion
Under the approved decision on the investor selection plan at 48-48A Tran Phu Street, the eligibility criteria include hotel, trade, service, tourism constructions meeting 4-star standard or more at a total value of at least VND1,250 billion. To carry out the project, the investor is subject to VND236.619 billion paid to the former investor which won the contract.
Besides, the investor is required to voluntarily grant part of the project cost to the former investor and contribute to the State budget as regulated and written in the financial proposal documents. Khanh Hoa People’s Committee has assigned detailed tasks to Khanh Hoa Development Project Management Board to hold the open bidding to select investors.
Bidding documents are available at Khanh Hoa Development Project Management Board from October 24. Some investors have registered and the bidding results will be announced as regulated, according to Chau Ngo Anh Nhan, Director of Khanh Hoa Development Project Management Board. With the open bidding, Khanh Hoa Province hopes to find competent investors.
Van Ky
Translated by N.T
