Localities need to seek opinions from the Ministry of Public Security
The Royal Yard Center project in Vinh Hoa ward, Nha Trang city (now Bac Nha Trang ward).
The project consists of 2 38-storey buildings with a total area of over 9,800m2. The project has currently under construction but has been suspended since 2020.
The legal representative, Mr. La Quang Binh, was investigated and tried for the act of "violating regulations on banking activities".
Regarding this incident, Khanh Hoa Provincial Police have sent a document to the Ministry of Public Security for coordination and information collection; currently waiting for feedback to have further handling directions.
Khanh Hoa province assessed that the Royal Yard project is one of the projects that shows complexity when the main responsibility belongs to the Ministry of Public Security, beyond the local self-responsibility.
During a working session with Khanh Hoa province yesterday (August 23), Permanent Deputy Prime Minister Nguyen Hoa Binh assessed that this case was in the process of being prosecuted, so he proposed that the province direct the Provincial Police to seek the opinion of the Ministry of Public Security and the Supreme People's Procuracy to resolve it.
Resolving the project according to the principle of "if the project is not evidence of the case, not the property that guarantees the enforcement of the sentence of the scammers, the locality will focus on resolving it.
If it is evidence to ensure enforcement of a judgment or evidence of a fraud case, it must follow the verdict.
Quite payment for businesses for BT projects
For group 18, BT (build - transfer) projects in Khanh Hoa, there are difficulties and problems in the process of implementing BT contracts.
Khanh Hoa province assessed that the group of 18 BT projects mentioned above are complex, directly related to criminal cases, the use of public assets and payment land funds.
The Provincial Party Committee Standing Committee assessed this as a particularly sensitive group of projects. If there is no timely resolution mechanism, it will last, causing damage to state assets and posing many potential legal risks.
Deputy Prime Minister Nguyen Hoa Binh said that the Ministry of Finance has so far issued instructions.
The spirit is that businesses will pay the local budget for all the money they have spent, not counting interest but returning them.
Deputy Prime Minister Nguyen Hoa Binh suggested that all methods of land, budget, and other assets under the law should be allowed to pay the full amount of money that the enterprise has spent to build the project.
The Royal Yard BT Project falls into a spiral of debt
In 2015, Khanh Hoa province decided to hand over and lease more than 47,000m2 in Vinh Hoa ward, Nha Trang city (old) to Ben Du Thuyen Company.
After being allocated land, this enterprise implemented the Royal Yard Center project to recover capital for the BT project to upgrade Mai Xuan Thuong Street and the dormitory of Khanh Hoa Provincial Political School.
The Yates Hotel Joint Stock Company was allocated land including area A of nearly 6,000m2, area B of more than 3,800m2 in Vinh Hoa urban area for the project.
In 2016, Khanh Hoa province approved the price of land use fees for residential land (not forming residential units) for areas A and B (more than 9,800m2) at about VND4.7 million/m2 for investors to recover capital for the BT project.
In addition, this project has 2 other sub-areas, areas C and D. For area D alone, in 2017, Khanh Hoa province decided to adjust and reclaim more than 19,000m2 because it was not included in the above BT refund project.
Since 2018, the investor has signed contracts to buy and sell luxury resort apartments in this project with many customers, collecting money but not yet handing over the houses to buyers.
