A Ho Chi Minh City Inspectorate investigation has found that a number of prime pieces of real estate in the city that were owned by the state were leased without an auction, breaching public asset management regulations, VN Express has reported. The publication lists the Vocational Education and Continuing Education Center of District 1 and Ben Thanh Market Management Board among the lessees recipients.
With respect to the same investigation, Tien Phong has dug into the arrears on rental payments to the city. It points out that three companies–Saigon 1 Food Production and Trading Joint Stock Company, Saigon Post and Telecommunications Service Joint Stock Company, and General Import-Export Joint Stock Company II–rented six properties between them but have failed to make rent payments leading to arrears of VND 20 billion or US$788,000.
See also: Vietnam’s Real Estate Industry