More than 8,000 square meters of public land to build a resettlement house fund
According to the records we have, in June 2011, Mr. Nguyen Thanh Tai - Vice Chairman of Ho Chi Minh City People's Committee (at this time) signed document No. 2770/UBND-DTMT on approving the investment method of apartment projects and housing funds. resettled in Phuoc Long A ward, District 9 (now Thu Duc City).
Accordingly, the People's Committee of Ho Chi Minh City has approved Saigon 5 Trading Construction One Member Company Limited (Saigon 5 Company, part of Saigon Real Estate Corporation Limited) to carry out a general construction investment project. residing in Phuoc Long A ward, Thu Duc city. The project is implemented according to the method: The investor advances capital to build a resettlement house fund of 96 houses and 220 commercial houses.
After construction is completed, the investor sells the 96-unit resettlement housing fund (lot C) to Ho Chi Minh City at the audited price, plus loan interest during the construction process and profit norms according to regulations. The remaining housing fund is 220 houses (lots A and B), which Saigon 5 Company can exploit for business to recover investment capital and fulfill financial and tax obligations at market prices.
Regarding the origin of the land to implement the above project, it is State land, with an area of 8,862 m2. The unit assigned the land must be responsible for implementing the project construction and using it for the assigned purpose.

Turned into a parking lot with a profit of 40 million VND/month
According to regulations, after being allocated land by the Ho Chi Minh City People's Committee and approved the investment method, the investor, Saigon 5 Company, must deploy the construction of an apartment project with a resettlement housing fund and hand it over to the city. city.
However, since it was approved by the People's Committee of Ho Chi Minh City in 2011, it has been 13 years now, the project has not yet been constructed, instead the public land of more than 8,000 square meters has been turned into a car parking lot , earning tens of millions of profits. VND/month.
From 2021, Saigon 5 Company has signed a contract with Hoang Minh Dung Co., Ltd. to sublease this public land for parking at a rental price of 40 million VND/month. Every month, Hoang Minh Dung Company Limited (the unit renting the land for car parking) transfers an amount of 40 million VND to the account of Saigon 5 Company. Even though it has received enough money every month since leased the land up to now, but Saigon 5 Company has not issued invoices to Hoang Minh Dung Company.
Because Saigon 5 Company does not issue VAT invoices according to regulations, Hoang Minh Dung Company does not have invoices or documents to report and declare taxes to the tax authorities.
Most recently, because of fear of being discovered and handled by the tax department, since June 2024, Mr. Vo Hoang Minh Dung - Director of Hoang Minh Dung Co., Ltd. has used his personal account to transfer money to pay land rent to this number. Saigon 5 Company's account.
Thus, from a correct policy of the Ho Chi Minh City People's Committee to create conditions for the city's workers, officials and employees to have the opportunity to access resettlement housing funds, public land has been allocated to them. Enterprises follow the socialization method.
However, after being allocated the land by the State, the investor, Saigon 5 Company, has not implemented it in accordance with the original regulations, but is currently subleasing the land to another enterprise to use as a parking lot. After 13 years, since the Ho Chi Minh City People's Committee approved the investment method for the apartment project and the resettlement housing fund, more than 8,000 square meters of land used to build this project is still only on paper.