Mr. Nguyen Van Duoc—Member of the Party Central Committee, Deputy Secretary of the HCMC Party Committee, and Chairman of the HCMC People’s Committee—chaired a meeting with Lotte Properties HCMC Company on the afternoon of October 3.
At the session, Chairman Nguyen Van Duoc noted that immediately after receiving Lotte’s petition, the city’s leadership held discussions with the investor. Following that meeting, on September 12, the HCMC People’s Committee issued Report No.1758 to the Prime Minister, outlining two major requests: exemption from the supplementary land levy of 5.4 percent under Decree 103/2024, and approval for adjusting shareholding ratios among Lotte Group’s member companies, as well as permitting external investors to hold up to 35 percent.
The Chairman added that the Government has since tasked ministries and agencies with reviewing and responding to these proposals.
Praising Lotte’s credibility and capacity, Chairman Nguyen Van Duoc remarked, “The company has dedicated considerable time, resources, and commitment to this project. While certain obstacles have arisen, I encourage Lotte to continue working with HCMC and to seek a resolution through the Government so the project may proceed.”
A Lotte representative said the company had deliberated carefully after its recent meetings with the city’s leadership, particularly after HCMC’s report to the Government. “We are committed to continued dialogue and proposals in order to create opportunities to implement the project,” the representative stressed, reiterating that if the company’s petitions are resolved, it is determined to carry out Eco Smart City.
One pressing issue concerns the land-use fee notice issued by the HCMC Tax Department, which is already in effect. According to Mr. Phan Van Dung, Deputy Head of HCMC Tax Department, late payment penalties—calculated at 0.03 percent per day—have already accumulated to about VND120 billion. At the meeting, Lotte requested that enforcement of the fee notice be temporarily suspended pending the Government’s decision on its proposals.
However, tax authorities said such a suspension is not provided for under current regulations. Therefore, in its report to the Prime Minister, the HCMC People’s Committee will need to explicitly include this matter for consideration.
Concluding the session, Chairman Nguyen Van Duoc reaffirmed the city’s commitment to listening attentively, working tirelessly to resolve bottlenecks, and standing alongside investors to build a safe, reliable, and attractive investment environment.
