Khanh Hoa province proposed that the Government allow localities to review, resolve and remove difficulties and obstacles in procedures for selecting investors to implement the Phu Dong Park project (Nha Trang) in a similar direction to the projects in Resolution No. 170/2025 of the National Assembly and the Government's instructions.
Resolution 170 was recently issued by the National Assembly to remove difficulties and obstacles for projects and land in the conclusions of inspections, examinations and judgments in Ho Chi Minh City, Da Nang and Khanh Hoa province.
The Phu Dong Park real estate facility of Khanh Hoa Tourism Company is arranged in the form of "restreated and continued to use" according to the 2010 decision of Khanh Hoa province.
In 2014, Khanh Hoa approved the value of the assets of Phu Dong Park belonging to Khanh Hoa Tourism Company (state-owned enterprise) to hand over to Invest Park Nha Trang Company Limited.
Invest Park Nha Trang Company Limited is a two-member LLC or more, of which Khanh Hoa Tourism Company Limited holds 12.73% of the charter capital.
During this time, Khanh Hoa province transferred the investment capital of Khanh Hoa Tourism Company Limited to Invest Park Nha Trang Company Limited for Khanh Viet Corporation to manage.
Therefore, from 2014 to 2017, real estate facilities in Phu Dong Park are not subject to rearrangement according to Decision 09 of the Government (2007) on rearrangement and handling of state-owned houses and land.
Later, Khanh Hoa decided to reclaim land leased by Khanh Hoa Tourism Company Limited and allocate land without collecting land use fees, leasing land to Invest Park Nha Trang Company Limited to implement the Phu Dong Park project.
From 2012, 2014, 2015, 2018, Khanh Hoa province issued and changed the investment certificate of Phu Dong Park project to Invest Park Nha Trang Company Limited.
The project's goal is to upgrade and renovate the landscape of Phu Dong Park according to the overall tourism planning of Khanh Hoa province and in accordance with the approved design plan with a total investment of 120 billion VND, an area of over 24,500m2.
According to the authorities of Khanh Hoa province, the granting of Phu Dong Park Investment Certificate to Invest Park Nha Trang Company Limited without auctioning land use rights and bidding to select investors is not in accordance with regulations.
The competent authority determined that the project had difficulties and problems in terms of institutions; procedures for investment and construction; finance; planning; site clearance; land allocation and lease; implementation of commitments of competent state agencies... Investment procedures, land allocation and lease.
The State reclaims part of Phu Dong Park land
In 2023, the Khanh Hoa Department of Finance announced that Invest Park Nha Trang Company Limited must hand over to the Nha Trang City People's Committee to manage the public land area (21,722.3m2) at Phu Dong Park and will not be compensated for assets and construction works on the land.
Up to now, Invest Park Nha Trang Company Limited has returned the above public land area and the Nha Trang City government is managing it.
