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The document of the City People’s Committee clearly stated the City Metal JSC. HCM is a state-owned company with 51% of capital; The transfer of land is not through auctions, there are signs of selling public land of the state cheap.
In addition, Office of the City People’s Committee. HCM also proposed to clarify the violation of the North Rach Chiec project.
Specifically, the North Rach Chiec residential area is 82ha, located in Phuoc Long A Ward, District 9, Ho Chi Minh City. Ho Chi Minh City Real Estate Corporation 10 (Res 10) as an investor (Res 10 is a member of Saigon Real Estate Corporation – HCMC Limited).
This project was approved by the Prime Minister (No. 282 / QD-TTg dated March 15, 2001) to allocate land for Res 10 to build the main technical infrastructure. After completing the infrastructure, Res 10 Company must hand over land to HCMC continues to allocate land to investors.
However, as soon as the Infrastructure of Res 10 has been completed, economic contracts have been signed with the content of some units entitled to “self-organizing business”, resulting in the division of units and Mobilizing capital (actually selling land) to individuals.
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