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What does the Construction Ministry say about Van Thinh Phat’s $ 6 billion project?

Saigon Peninsula project super project area.

Ministry of Construction has proposed the Prime Minister to authorize the President of the People’s Committee of Ho Chi Minh City to consider and approve the project investment in accordance with the provisions of Decree No. 11/2013 / ND-CP and the provisions of law.

Performing the tasks assigned by the Deputy Prime Minister Trinh Dinh Dung, the Ministry of Construction has coordinated with the Ministry of Planning and Investment, the Ministry of Justice to review the implementation results, An investment project for the construction of technical infrastructure of the Mui Den Do Park and the urban residential area (project), on which the Ministry of Construction has asked the Ho Chi Minh City People’s Committee to explain in writing. Processes, procedures, investment policy of the project, according to information from Construction Newspaper.

Specifically, regarding the investment procedures related to the project: According to the report of the People’s Committee of Ho Chi Minh City, the project has been approved by the People’s Committee of Ho Chi Minh City investment policy for the company Truong Son (now the company CP of Saigon Peninsula Group in Document No. 8156 / UBND-DTMT dated 28/11/2007, extended in Document No. 1751 / UBND-DTMT dated 22/4/2009 and approved the policy to continue the project Decision No. 4980 / UBND-DTMT dated August 24, 2015.

Reviewing legal bases to adjust the project from 2007 to before July 01, 2015 and from July 01, 2015 to now have some interesting issues:

According to the law on investment (from 2007 to before July 1, 2015): The project is not subject to investment approval of the Prime Minister (Article 37 of Decree 108/2006 / ND-CP of September 22, 2006, detailing and guiding the implementation of a number of articles of the 2005 Investment Law.

According to the law on urban construction and development: From 2007 to before March 1, 2013, the project falls within the scope of regulation No. 02/2006 / ND-CP dated 05/01 / 2006 of the Government promulgating the Regulation on new urban areas under the authority of the Ho Chi Minh City People’s Committee (Clause 2, Article 15 of the Regulation on new urban centers); From March 1, 2013, the project is governed by Decree No. 11/2013 / ND-CP dated January 14, 2013 of the Government on management of investment in urban development under the jurisdiction of the Government. the investment approval of the Prime Minister (Clause 1 of Article 21).

Under the investment law: From July 1, 2015, the project has an investment capital of over VND 5,000 billion, which falls under the investment decision of the Prime Minister (Clause 2, Article 31, Investment Law 2014).

After the date of 27/12/2015, if the project falls under Clause 2, Article 31 of the Investment Law of 2014, it shall conform to the planning approved by the competent authority, which must be carried out manually. The investment decision of the provincial People’s Committee in accordance with Article 32 of Decree No. 118/2015 / ND-CP dated November 12, 2015 of the Government stipulating in details and direction. To implement a number of articles of the Investment Law.

About the process of granting investment certificates: According to the opinion of the Ministry of Planning and Investment, Ministry of Justice, the Ho Chi Minh City People’s Committee has not granted the investment certificate of the project (in the case of the project Implementation before July 1, 2015) is not in accordance with the provisions of the Law on Investment 2005.

In this regard, the Ho Chi Minh City People’s Committee has explained in accordance with the provisions of Clause 5, Article 1 of the Government’s Resolution No. 33/2008 / NQ-CP dated December 31, 2008 on the pilot implementation of a number of procedures In the case of investment, construction and administration of new urban area projects, residential housing projects and technical infrastructure projects of industrial zones.

Basing on the investment project approval: The project dossier has been evaluated by the People’s Committee of Ho Chi Minh City in the Document No. 2207 / UBND-DT dated April 18, 2017. The project review is carried out in accordance with the provisions of Decree No. 11/2013 / ND-CP dated 14 January 2013 of the Government on Urban Investment Management, Construction Law 2014, House Law in 2014, the 2014 Investment Law and other applicable laws.

After receiving the project dossiers, the Ministry of Construction shall assume the prime responsibility for appraising and submitting opinions of ministries and branches, and have received the written comments of the Ministry of Finance, the Ministry of Natural Resources and Environment and the Ministry of Planning and Investment, Agriculture and Rural Development, Transportation.  People’s Committee of Ho Chi Minh City has completed the project dossier according to the opinions of the ministries before submitting them to the Prime Minister (Report No. 67 / TTr-BXD dated December 22, 2017 of the Ministry of Construction).

The location of the project is located in Mui Den
The location of the project is located in Mui Den (overlooking the confluence of Saigon River and Dong Nai River)

On the basis of the opinions of the ministries and branches on the approval of investment in the technical infrastructure construction of the project, the Ministry of Construction shall, based on the results of reviewing the project implementation and relevant procedures of the project, The project has been approved by Ho Chi Minh City People’s Committee since 2007, however, the People’s Committee of Ho Chi Minh City has not checked, urged and reviewed the progress of the project. According to the law, the procedures, investment process must be adjusted many times.

In order to ensure the implementation of the project in accordance with the law on investment, construction and urban development at the moment, the Ministry of Construction is proposing the Ho Chi Minh City People’s Committee according to its competence to complete the documents Decision on investment policy and issuance of investment certificates in accordance with the law on investment.

The Prime Minister authorized the President of the People’s Committee of Ho Chi Minh City to consider and approve the project investment in accordance with Decree No. 11/2013 / ND-CP and current regulations.

The People’s Committee of Ho Chi Minh City is responsible for reviewing the implementation of the project in accordance with the law, in case of violation, consideration and administrative penalty in accordance with Decree No. 50/2016 / ND-CP dated 01/6/2016 on sanctioning administrative violations in the domain of planning and investment.

Saigon Peninsula project super project area.
Saigon Peninsula project super project area.

It is known that the investment project to build technical infrastructure of Mui Den and park housing is also known as the project name Saigon Peninsula located in Phu Thuan Ward, District 7, Ho Chi Minh City. It is located on the east and south by the Nha Be River, on the west by the existing Dao Tri Road, on the north by the Sai Gon River and on the Butterfly canal.

The project consists of two main functional areas mixed mixed park about 82ha and urban housing 35ha. The investor of the Saigon Peninsula project is Saigon Peninsula Group. This is the Joint Venture of Van Thinh Phat Group Joint Stock Company with foreign investors including Pavilion Group and Genting Group to invest in developing the project.

In particular, Pavilion Group plays a key role in master planning and construction work. Highlights include a high-end retail shopping center in combination with 5-star hotels, luxury apartments and luxurious resort villas and Grade A office buildings.

Genting Group is also involved in the construction of the international port of the project at the existing commercial port site. Upon completion, the 200,000 GRT international passenger port (the registered tonnage) will be the largest passenger port in Vietnam.

In 8/2016, Van Thinh Phat Group officially announced and kicked off the Saigon Peninsula project. However, after the start-up in 2016, the progress of the Saigon Peninsula project will begin to level off in 2017-2018.

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What does the Construction Ministry say about Van Thinh Phat’s $ 6 billion project?
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