Ho Chi Minh City is recovering a land plot of more than 56,400 square meters on Kinh Duong Vuong Street from the Southern Food Corporation (Vinafood II) as the enterprise no longer has a need to use it.
The People’s Committee of Ho Chi Minh City has just issued a decision to recover the 56,443-square-meter land plot at No. 561 Kinh Duong Vuong Street, An Lac Ward, managed by the Southern Food Corporation – One Member Limited Liability Company, now the Southern Food Corporation – Joint Stock Company (Vinafood II).
This land plot was leased to Vinafood II by the city under a contract signed in 2014. According to the decision, the recovery is carried out under the provisions of the 2024 Land Law because the enterprise no longer has a need for its use.
After the recovery, Vinafood II is responsible for handing over the entire land plot to the Ho Chi Minh City Land Fund Development Center to receive, manage, and propose handling plans in accordance with regulations.
The land plot at 561 Kinh Duong Vuong, An Lac Ward, Ho Chi Minh City. Photo: HCMC People’s Committee
The land plot at 561 Kinh Duong Vuong, An Lac Ward, Ho Chi Minh City. Photo: HCMC People’s Committee
The HCMC People’s Committee also assigned the tax authority to inspect, determine, and collect any outstanding land rental fees (if any) from the enterprise up to the time the recovery decision was issued. At the same time, the Department of Agriculture and Environment will carry out procedures to terminate the land lease contract, and update land registration records and the land database.
The recovery takes effect 10 days after Vinafood II receives the land recovery notice.
The land plot of over 5.6 hectares at No. 561 Kinh Duong Vuong was formerly the Cuu Long Rice Mill, handed over to Vinafood II for management in 2005. By 2008, Ho Chi Minh City approved the conversion of the land use purpose from production to the development of an apartment project combined with a commercial center, invested by Cuu Long Investment and Development Joint Stock Company, an enterprise with capital contribution from Vinafood II.
During the enterprise restructuring process, Vinafood II was requested not to continue investing in the project. In 2017, Ho Chi Minh City approved the investment policy and assigned Cuu Long Investment and Development Joint Stock Company to continue implementation with a 4-year schedule. However, after nearly a decade, the project has still not been implemented.
In 2024, the inspection conclusions on planning and construction planning management in Binh Tan District pointed out many shortcomings in the use of this land plot. The local government once proposed converting the land plot into a cultural park and green space serving the community.
Currently, most of the land area is used as parking lots, workshops, and temporary structures. After the enterprise returns the land, the plot will be handed over to the Ho Chi Minh City Land Fund Development Center for management to study exploitation plans in accordance with regulations.
Phuong Uyen
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