Ho Chi Minh City authorities will auction land to mobilise funds forsome key and urgent projects, according to a newspaper report.
Nguoi Lao Dong (The Labourer) said this year the HCM City LandDevelopment Centre had recommended to the People's Committee to sell 18land lots that had been taken back from investors or were in the processof retrieval.
They were part of 44 that had to beretrieved this year due to various reasons like investors' violations ofrules of tardy progress.
Those already retrieved were inTan Thanh Tay and Tan Phu Trung Communes in Cu Chi district and Vinh LocCommune in Binh Chanh district.
The Centre had called forspeeding up the process of revoking nine lots, including those at462-464 Nguyen Thi Minh Khai street, district 3; 234 Ly Tu Trong,District 1; and 93/2 Long Son, district 9.
Vo Cong Luc,its deputy director, said the Centre had hired a consultant to fixprices for the 18 lots while the Department of Justice will finaliseprocedures for the auction.
According to HCM Cityauthorities, the auction of public lands were aimed at not onlyexploiting land effectively but also to make land managementtransparent.
Of the 44 land lots measuring 1,956ha, 23will be taken back because investors used them for unauthorised purposes– like 205 Ben Chuong Duong, District 1, given to Ben Thanh Rubber Co,and 16/1 Au Co, district 11, given to Gia Dinh Textile Co.
Fifteen lots measuring 21.6ha will be retrieved because of land-useviolations and the remaining seven, because of investors' tardy progressas concluded by the Ministry of Natural Resources and Environment.
The City People's Committee has warned seven other investors thatfailure to complete their projects by July this year will see themlosing their land./.
Nguoi Lao Dong (The Labourer) said this year the HCM City LandDevelopment Centre had recommended to the People's Committee to sell 18land lots that had been taken back from investors or were in the processof retrieval.
They were part of 44 that had to beretrieved this year due to various reasons like investors' violations ofrules of tardy progress.
Those already retrieved were inTan Thanh Tay and Tan Phu Trung Communes in Cu Chi district and Vinh LocCommune in Binh Chanh district.
The Centre had called forspeeding up the process of revoking nine lots, including those at462-464 Nguyen Thi Minh Khai street, district 3; 234 Ly Tu Trong,District 1; and 93/2 Long Son, district 9.
Vo Cong Luc,its deputy director, said the Centre had hired a consultant to fixprices for the 18 lots while the Department of Justice will finaliseprocedures for the auction.
According to HCM Cityauthorities, the auction of public lands were aimed at not onlyexploiting land effectively but also to make land managementtransparent.
Of the 44 land lots measuring 1,956ha, 23will be taken back because investors used them for unauthorised purposes– like 205 Ben Chuong Duong, District 1, given to Ben Thanh Rubber Co,and 16/1 Au Co, district 11, given to Gia Dinh Textile Co.
Fifteen lots measuring 21.6ha will be retrieved because of land-useviolations and the remaining seven, because of investors' tardy progressas concluded by the Ministry of Natural Resources and Environment.
The City People's Committee has warned seven other investors thatfailure to complete their projects by July this year will see themlosing their land./.
