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VietNamNet Bridge – The Binh Thuan provincial authorities have discovered the
illegal investment by a Chinese business which bought hundreds of hectares of
land to grow dragon fruits.
Though the land transfer deal has not been wrapped up because of the dispute,
Zhong sent a document to the Binh Thuan provincial authorities, asking for the
permission to import machines and equipment to be used for the projects on
growing dragon fruits on the land plots.
The dispute…
In the document to the provincial authorities, Zhong said in late 2011, after
signing the contract with Thanh, who was the director and now is the capital
contributor to Nguyen Long Son Company, Zhong paid 13.5 billion dong to Thanh
already. However, Thanh still has not given him the land use right certificate,
investment license and the construction license as stipulated in the contract.
Therefore, the company asked the Binh Thuan provincial authorities to make
intervention in the case and allow it to grow dragon fruits on the 100 hectare
land plot in Ham Chinh, and to build factories on the land plot in Ham Duc.
Meanwhile, Thanh argued that by July 2012, he had received only 10.5 billion
dong from Zhong and had handed over all the documents relating to the land.
On February 27, Zhong asked Thanh to sign a contract on borrowing 4.5 billion
dong, or 5 percent of the company’s total capital contribution, at the interest
rate of zero percent. In return, Thanh had to give 11 red books (land use right
certificates) showing the ownership of 75,000 square meters of land, and the
documents relating to the company’s office in Ham Thuan Bac.
… has exposed the illegal investment
With the contract, Thanh, after obtaining the investment license, will have to
transfer the stakes in order to take back the red books.
In fact, Thanh only makes capital contribution to the company on…. Paper only,
while the company’s real owner is the Chinese investor. This means that Thanh
helped Zhong make investment in Vietnam without the permission of the local
authorities.
The record documents showed that on December 30, 2011, Pham Phu Thanh
established Nguyen Long Son Company with the chartered capital of 90 billion
dong. Thanh was then the director of the company who contributed 20 percent of
the company’s capital (18 billion dong), while Vu Duy Tam from Bac Giang
contributed 72 billion dong.
Two months later, on February 28, the company registered the changes of the
company. Two new Chinese members of the company appeared, including Huang Bi Qiu
who contributed 30 percent of capital (27 billion dong) and Zhong Heng Shan 60
percent (54 billion dong).
Zhong then became the director of the company, while Thanh’s and Tam’s
contributed capital dropped to 5 percent. Therefore, the company has been put
under the control of the Chinese investors.
After that Thanh signed a contract on transferring the 100 hectares of
agricultural land to Zhong.
After using some tricks to legalize the investment of the two Chinese people,
Thanh has handed over the company’s stamp to Zhong. However, the provincial
people’s committee then refused to grant the investment license, because the
company then turned into a foreign invested enterprise.
Source: Tien phong
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