“Golden land” on Hoang Le Kha street, Tay Ninh city: Investor requests to adjust project scale

Land plot number 50 Hoang Le Kha street, ward 3, Tay Ninh city is currently fenced with high corrugated iron on the outside.

In recent years, there has been information that a large-scale commercial and service center project will be implemented on a "golden land" with an area of nearly 9,000m2 at No. 50, Hoang Le Kha Street, Quarter 3, Ward 3, Tay Ninh City. However, up to now, there has been no movement on this project.

In August 2020, the Provincial People's Committee issued Decision No. 1787/QD-UBND approving the investment policy of the Trade and Service Center project at 50 Hoang Le Kha Street, Tay Ninh City of Hoang Le Kha Trade and Service Joint Stock Company. However, for the past 3 years, the "golden land" has remained vacant, with a temporary high iron fence outside and has become a parking lot for an automobile business center.

It is known that Hoang Le Kha Trading and Service Joint Stock Company received the transfer of land use rights and assets attached to land from Nguyen Kim Tay Ninh Investment and Development Company Limited and was approved by the province for investment policy, and was granted the first investment registration certificate by the Department of Planning and Investment on October 18, 2021.

However, on May 24, 2022, the investor requested a policy adjustment. Specifically, the content of the request to adjust the project's objective is a commercial service center. The scale of the project is divided into 2 phases, of which phase 1 (quarter II.2020 to quarter IV.2024) is a commercial service center for automobiles (1st and 2nd floors). Phase 2 (quarter I.2025 to quarter IV.2026) is a commercial service center (3rd and 4th floors).

According to Hoang Le Kha Trading and Service Joint Stock Company, the unit has researched and evaluated the actual commercial service centers in Tay Ninh such as TTC Plaza - Tay Ninh (in operation since 2017); Vincom Plaza Tay Ninh (in operation since December 2018). These two places are both large shopping - entertainment - recreation and culinary complexes, located in the center of Tay Ninh city, in a prime location on the bustling 30.4 street - concentrating most of the province's administrative agencies, many large enterprises, banks... This road is considered a connecting point for many businesses, creating conditions to increase opportunities for trade connections; an ideal place to organize sports and music events, display famous brands.

In addition to the outstanding advantages in terms of geographical location, both of the above commercial service centers are also fully equipped with high-quality specialized equipment to serve the purpose of commercial centers and high-class office services...

Despite possessing most of the advantages in terms of geographical location and high-end equipment, currently, the two centers have not yet fully utilized their designed capacity. In fact, there is quite a lot of vacant space on the floors in both centers, and the booths and kiosks have been rented, but the number of visitors coming to visit and shop is very low.

For the above reasons, the investor realizes that if the construction continues with the original plan of a trade and service center, it will not be feasible during the implementation and operation process, and the economic efficiency will not be high. The investor would like to propose to adjust some contents compared to the original investment plan of Nguyen Kim Company.

However, the Provincial People's Committee did not agree, assigning the Department of Planning and Investment to work with the investor to ensure the project is implemented according to the original objectives, only implementing one phase for the entire project (no investment phases). The Department of Planning and Investment worked and discussed with Hoang Le Kha Trading and Service Joint Stock Company and requested the investor to continue to inherit and implement the project according to the original objectives decided by the Provincial People's Committee in the previous criteria for auctioning land use rights.

On March 22, 2023, Hoang Le Kha Company resubmitted the project adjustment dossier, the main content of which was previously the goal and scale of the service trade center project with 4 floors, serving about 1,000 people per day. After the adjustment, it became a 4-storey service trade center (removing the scale of 1,000 people/day)...

The land is currently being used as a parking lot for an automobile business.

In addition, the Company also has a written commitment to the progress of the investment project. The reason why the investor requested to adjust the policy is: Tay Ninh is not far from Ho Chi Minh City, Tay Ninh city is classified as a type 3 urban area and is focused on large investment.

This means that people's lives are improving day by day. In fact, people's demand for shopping, eating, and entertainment is quite large... Investors realize that Tay Ninh is a potential market for commercial and service business activities. Adjusting the "project investment scale" is completely correct because it is suitable for people's consumption needs, contributing to improving the quality of life and promoting economic development of Tay Ninh province.

When the center comes into operation, it will not only promote the development of the province's trade and service sector, but it will also be a large-scale project that contributes to creating a highlight and a new look for Tay Ninh city, striving to become a type 2 urban area by 2025.

In response to the investor's request for adjustment, on April 6, 2023, the Department of Planning and Investment submitted to the Provincial People's Committee for consideration and approval of the policy for Hoang Le Kha Trading and Service Joint Stock Company to adjust the Trade and Service Center project at 50 Hoang Le Kha Street with the goal and scale of the project still being a trade and service center with 4 floors. The total investment capital for the project is 120 billion VND. The project implementation progress is expected to be put into operation within 24 months from the date of approval of the first investment policy adjustment decision.

At the regular meeting of the Provincial People's Committee on April 19, regarding the above content, Chairman of the Provincial People's Committee Nguyen Thanh Ngoc requested the investor to maintain the scale of 4 floors of the project, and at the same time, assigned the Department of Planning and Investment to inspect, supervise, remind and strictly handle according to regulations if violations are detected.

Tan Hung

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