The Dai Ninh Commercial, Tourism , and Ecological Resort Urban Area Project (Dai Ninh Project) in Duc Trong District, Lam Dong Province, is invested in by Saigon Dai Ninh Tourism Investment Joint Stock Company.
The project's objective is to invest in, construct, and operate an eco-tourism and commercial urban area. The project covers approximately 3,595.5 hectares, including villas, public facilities, parks, and green spaces, with an investment capital of 25,243 billion VND. The project's operating period is 50 years, starting from the date of issuance of the investment certificate. The investment schedule runs from 2010 to 2018.
In December 2010, Saigon Dai Ninh Company was granted an investment certificate for the project by the Provincial People's Committee.
After being allocated land and forest for the project, the investor allowed over 368 hectares of forest to be destroyed and encroached upon. In 2017, the Lam Dong Provincial Department of Finance requested the investor to compensate for the damage to forest resources with an amount of nearly 6.7 billion VND. By mid-2020, the company had only paid nearly 1.7 billion VND.
In inspection conclusion No. 929/KL/TTCP dated June 12, 2020, the Government Inspectorate recommended that the Lam Dong Provincial People's Committee terminate operations and revoke the Dai Ninh project.
In June 2021, the Government Inspectorate issued inspection conclusion No. 1033/KL-TTCP amending some contents of inspection conclusion No. 929, including withdrawing the request to terminate operations and reclaim land of the Dai Ninh project; at the same time, assigning the Lam Dong Provincial People's Committee to continue adjusting the progress and extending the project's deadline.
In early 2022, the Lam Dong Provincial People's Committee decided to extend the deadline for the Dai Ninh project by another 24 months. At the same time, it requested the investor to focus resources on implementing the project.
By August 2022, Saigon Dai Ninh Company had deposited a security fund to guarantee the project's implementation and submitted a commitment letter regarding the project's progress. The Lam Dong Provincial People's Committee also issued a document assigning the Department of Natural Resources and Environment to advise on the land valuation for calculating land use fees at the project.
According to a report in March 2023, the People's Committee of Duc Trong District, in coordination with relevant units, assisted the investor in completing the legal procedures for the project. In October 2023, the People's Committee of Lam Dong Province directed relevant departments and units to provide the legal documents for the Dai Ninh project. The investment and construction plans for the project were not mentioned in the progress report.
As of the end of January 2024, Saigon Dai Ninh Company had completed several procedures and constructed some architectural works, leveled roads, and laid crushed stone aggregate on some routes. The total investment capital was VND 2,296 billion, accounting for 9% of the total investment.
In June 2024, the Lam Dong Department of Finance assessed that the basis and conditions for implementing the project during the 2020-2025 term were not feasible. Therefore, it requested the Department of Planning and Investment to report and propose to the Provincial People's Committee to submit to the Provincial Party Committee and the Standing Committee of the Provincial Party Committee for consideration the removal of the Dai Ninh project from the list of key projects of the province for the 2020-2025 term.
Tycoon Nguyen Cao Tri takes over the project.
Established in 2010, Saigon Dai Ninh Company had a registered capital of 300 billion VND. In 2017, the company increased its registered capital to 2,000 billion VND. Since its establishment, the company has had only one project: the Dai Ninh Urban Area.
In 2020, Saigon Dai Ninh signed a contract to transfer its charter capital to Ben Thanh Holdings Group JSC, part of the Capella Group ecosystem owned by tycoon Nguyen Cao Tri.
Following the signing of the aforementioned contract, Mr. Tri used Capella Hospitality Co., Ltd. (another subsidiary of Capella Group) to acquire 51% of Saigon Dai Ninh's charter capital for VND 1,530 billion. In January 2021, Mr. Tri became the legal representative of Saigon Dai Ninh.
Subsequently, in September 2022, Mr. Tri asked his younger brother, Nguyen Cao Duc, to purchase 7% of the charter capital of Saigon Dai Ninh from Ms. Phan Thi Hoa for 700 billion VND. In total, Mr. Tri owned 58% of the charter capital of Saigon Dai Ninh and had paid Ms. Hoa 2,230 billion VND.
Subsequently, Mr. Tri agreed to sell 100% of Saigon Dai Ninh's capital to Ms. Truong My Lan, Chairwoman of the Board of Directors of Van Thinh Phat Group, for 3,000 billion VND. Ms. Lan deposited over 463 billion VND with Mr. Tri but later changed her mind and decided not to buy. This amount was then used as payment for another transaction between Ms. Lan and Mr. Tri.
Information about the Dai Ninh project was previously mentioned in the investigation report of the case involving Van Thinh Phat Group, SCB Bank, and related organizations and entities.
In 2023, in connection with this project, the C03 unit of the Ministry of Public Security initiated criminal proceedings and temporarily detained Mr. Nguyen Cao Tri, Chairman of Capella Group.
Furthermore, this project has led to the prosecution and arrest of numerous officials from Lam Dong province and the central government for investigation purposes.
Land use fees for the Dai Ninh project have been reduced from 262 billion VND to 3.2 billion VND. On July 2, 2024, the Lam Dong Provincial Tax Department issued a report after reviewing the land use fee records for the Dai Ninh project. In April 2014, the People's Committee of Lam Dong province issued a decision approving the land use right transfer price for Saigon Dai Ninh Company to pay to the state budget when changing the land use purpose at the Dai Ninh project. The land use right transfer price for the 166.5 hectares of residential land in this project was 226 billion VND. In January 2018, the Provincial People's Committee assigned the Department of Finance to urge organizations with outstanding budget debts up to October 2017 to pay. This included 158 billion VND in land use fees owed by Saigon Dai Ninh Company. If the company is unable to implement the project, relevant departments and agencies will consider and propose to the Provincial People's Committee an assessment of the project's feasibility, switching to a land lease method with annual rent collection or revoking the project. In April 2018, Saigon Dai Ninh Company proposed changing the land allocation method from land use fee collection to a 50-year land lease with annual payments for the Dai Ninh project. In a report dated May 2018, the Department of Natural Resources and Environment proposed approving the policy for Saigon Dai Ninh Company to adjust the land use form. Specifically, 166.5 hectares of residential land, currently allocated with land use fees, were proposed to be adjusted to non-agricultural production and business land with annual land lease payments.  The top scorer in Hanoi's 10th grade entrance exam achieved 29.75/30 points.With an entrance exam score of 29.75, Tran Minh Ha, a student from Newton Secondary and High School, became the top scorer in the 2026 public high school entrance exam.  Iran has again blockaded the Strait of Hormuz.On June 19, Iran reimposed a blockade on the Strait of Hormuz, citing Israel's refusal to withdraw its forces from southern Lebanon and the continued presence of US troops in the region.  BREAKING NEWS: Iran again announces closure of the Strait of Hormuz.(NLDO) - Tehran has announced it will continue its blockade of the Strait of Hormuz and will not participate in the planned nuclear talks with the US in Switzerland. In October 2018, the People's Committee of Lam Dong province issued a decision to adjust the land use form for Saigon Dai Ninh Company; and instructed the Tax Department to direct the recall of notices regarding the payment of land use fees and the reduction in land use fees. In November 2018, following instructions from the Tax Department, the Duc Trong District Tax Office (now the Duc Trong - Don Duong Regional Tax Office) issued a document revoking the land use fee collection notices of Saigon Dai Ninh Company, including 158 billion VND in land use fees and 104 billion VND in late payment penalties. In May 2020, the Duc Trong - Don Duong Regional Tax Office issued a notice to Saigon Dai Ninh Company regarding land lease fees from July 2012 to December 2019 for an area of 166.5 hectares, totaling 3.2 billion VND. Subsequently, Saigon Dai Ninh Company paid this amount into the state budget. According to the Lam Dong Provincial Tax Department, the provincial People's Committee's directive to reduce land use fees at the Dai Ninh Urban Area project was based on the inspection findings of the Ministry of Finance. However, after reviewing the records to report to the Central Inspection Committee, the Tax Department found that the adjustment to reduce land use fees and late payment penalties as directed by the Provincial People's Committee was not in accordance with the law. Therefore, the Department recommends that the Provincial People's Committee review the relevant decisions and direct the Land Valuation Council to determine the financial obligations regarding land for the project from February 2012 to October 2018. |
Source: https://vietnamnet.vn/sieu-du-an-dai-ninh-khien-nhieu-lanh-dao-bi-ky-luat-sai-pham-van-thoat-an-thu-hoi-2311512.html
