Ho Chi Minh City

HCMC works on advantageous investment environment for businesses

SGGP

Deputy chairman of HCMC People’s Committee Vo Van Hoan yesterday presided over a meeting with the Departments of Construction, Planning and Investment, Natural Resources and Environment and HCMC Real Estate Association to listen to problems in solving procedures relating to housing projects for businesses.


One of problems in commercial housing projects is that the Department of Planning and Investment cannot receive documents from investors who propose the agency to approve the 1/500 scale detailed plan of their projects although these projects have got investment policy decision from the city People’s Committee. That is because the Law on Urban Planning stipulates that only owners of the projects are eligible for putting forward the proposal.

Aside from that many commercial housing projects have faced congestion in investor recognition procedure because of the regulation in which projects must have 100 percent legal housing land.

According to statistics from the Department of Construction, only 26 percent of these projects meet the requirements, most of them locate inner the city. The remaining of 74 percent with large area in the outskirts has a mix land fund comprising housing land, agricultural land and about 10 percent of area under the state management.

It is said that there are two groups of investors including those having land for housing project investment and those without land. In case investors have land before asking for investment policy of projects, they are almost owners of the projects and just wait for investor recognition documents from authorized agencies.

Mr. Hoan said that the above problems should be solved in a timely manner to create advantageous investment environment for businesses. Agencies should work closely together to thoroughly consider documents to approve the 1/500 scale plan.

Referring to projects having part of their land under state management, Mr. Hoan said that he would continue working with agencies about the issue before reporting to city leaders to legally clear it and prevent public asset loss.

By Do Tra Giang – Translated by Ngoc Thanh

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