Lotte continues Thu Thiem Eco Smart City project, Ho Chi Minh City affirms its companionship

At the meeting on the afternoon of October 3, Lotte Group wished to continue implementing the Thu Thiem Eco Smart City project, and Ho Chi Minh City Chairman Nguyen Van Duoc affirmed that the city will accompany businesses to remove obstacles.

Chairman Nguyen Van Duoc shook hands with Lotte Group representatives after the meeting - Photo: Contributor

On the afternoon of October 3, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc, along with Vice Chairmen of the Ho Chi Minh City People's Committee and leaders of departments and branches, worked with the Korean Lotte Group regarding the Thu Thiem Eco Smart City smart complex project.

Two moves by the Ho Chi Minh City People's Committee made Lotte change its decision.

At the beginning of the meeting, Chairman Nguyen Van Duoc affirmed that the city acknowledged and highly appreciated the efforts of Lotte Properties HCMC Co., Ltd. in implementing the project. At the same time, the city always accompanied the enterprise to implement the project, contributing to the development of the city and the development of the enterprise.

At the meeting, Mr. Jun Sung Ho - General Director of Lotte Properties HCMC Co., Ltd. - thanked the Chairman of the Ho Chi Minh City People's Committee and leaders of departments and branches for their encouragement and support for Lotte to continue developing the project.

At the same time, Ho Chi Minh City has paid attention to businesses by sending documents to the Government , recommending issues that Lotte had sent to the city.

Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc asked investors in general and Lotte in particular to continue to trust in the investment environment of Ho Chi Minh City in particular and Vietnam in general - Photo: NGOC HIEN

“We would like to thank the encouragement and support for us to carry out the project. We feel the attention of the city leaders towards foreign investors, Korean in general and Lotte in particular, showing the welcome in the city's investment environment,” said Mr. Jun Sung Ho.

Recalling the incident, he said that on August 20, the investor sent a document to the City People's Committee requesting the termination of the project. However, on August 29, Chairman Nguyen Van Duoc met directly with the group and encouraged them, which made the group's leaders change their views.

Then, on September 12, the City People's Committee sent a document to the Prime Minister and raised the investor's recommendations, helping the group have confidence in continuing to develop the project.

Thu Thiem Eco Smart City smart complex project - Photo: NGOC HIEN

Ho Chi Minh City will always accompany and support businesses.

At the meeting, Mr. Jun Sung Ho raised three recommendations that investors hope to receive from the Ho Chi Minh City People's Committee.

First, allowing the adjustment of the shareholding ratio between member companies in Lotte Group. Second, allowing the attraction of outside investors at a maximum ratio of 35%. Third, exempting the application of the additional tax rate of 5.4%.

After listening to the investor's proposal, Chairman Nguyen Van Duoc affirmed that Ho Chi Minh City is very interested in domestic and foreign investors coming to the city, including Lotte's project. According to Mr. Duoc, the meeting with the full presence of city leaders and Lotte Group is proof of the city leaders' interest in investors.

“We hope that investors will accompany the city, together overcome difficulties, continue to develop the project, accompany the city's development and Lotte's development,” Mr. Duoc said.

For each investor's proposal, the Chairman of the City People's Committee discussed with both Lotte and representatives of each department to have a separate solution for each proposal.

Mr. JUN Sung Ho - General Director of Lotte Properties HCMC Co., Ltd. - expressed his gratitude to the Chairman of the Ho Chi Minh City People's Committee and the departments and branches that have accompanied Lotte's project - Photo: NGOC HIEN

The city has proposed to exempt the additional 5.4% tax and proposed the Central Government to allow the adjustment of the share ownership ratio between member companies in Lotte Group. Allowing the attraction of outside investors with a maximum ratio of 35%.

During the working session, Mr. Jun Sung Ho, representing Lotte, repeatedly expressed his thanks for the attention, sharing and support of the city leaders and departments for the corporation, as well as the Thu Thiem Eco smart City project.

After 40 minutes of urgent work, Mr. Nguyen Van Duoc came to shake hands with Mr. Jun Sung Ho with smiles on the lips of both the leaders of Ho Chi Minh City and Lotte.

"I request that investors in the city in general and Lotte in particular continue to trust in the investment environment of Ho Chi Minh City in particular and Vietnam in general," Mr. Duoc concluded the meeting.

Lover - NGOC HIEN

Source: https://tuoitre.vn/lotte-tiep-tuc-du-an-thu-thiem-eco-smart-city-tp-hcm-khang-dinh-dong-hanh-20251003141457641.htm