Ho Chi Minh City has allocated and leased about 708 hectares of land to Thadico and Becamex for industrial and urban projects, according to city decisions reported by VnExpress.
Thadico Binh Duong was leased more than 701 hectares in Binh Co and Tan Uyen for infrastructure for a specialized mechanical industrial park. The lease runs for 50 years with annual payments. Nearly 194 hectares for shared infrastructure are exempt from rent. The remaining area of more than 507 hectares may receive rent exemptions during basic construction and investment incentives.
At the same time, the city allocated about 7.2 hectares in Thoi Hoa to Becamex for the Ap 5C residential project. The land-use term runs until May 7, 2059.
The state will collect payment for more than 3.4 hectares of row-house residential land. The remaining more than 3.7 hectares, designated for a park, roads, an electricity corridor, and water supply and drainage, will not be charged. Becamex must finance the completed infrastructure and hand it over to the relevant authorities.
The Ho Chi Minh City Department of Agriculture and Environment will work with the Department of Finance and tax authorities to determine the land price used to calculate the projects' financial obligations. Local authorities will coordinate the handover of boundaries, supervise planning, and address construction violations.
Thadico Binh Duong is part of Thaco, a private multi-sector company founded by Tran Ba Duong in 1997. Becamex is one of Vietnam's major industrial-park developers. The Ho Chi Minh City People's Committee currently represents the state capital in Becamex, with a 95.44% holding.
Sources: VnExpress
