Business Today: Saigon Dai Ninh Company Urged to Protect Forests in 25,000 Billion Dong Mega Project
The Saigon Dai Ninh Investment Tourism Joint Stock Company (Saigon Dai Ninh Company) has been requested to address remaining issues related to forestry in the Saigon Dai Ninh project, a commercial, tourism, and ecological resort urban area. This information was reported by the Department of Agriculture and Rural Development of Lam Dong province on March 12.
Slow Progress and Devastated Forests
After 13 years, the Saigon Dai Ninh project has faced delays and has resulted in devastated forests. The Lam Dong province’s Department of Agriculture and Rural Development has highlighted that the Forest Protection and Management Division and Saigon Dai Ninh Company have yet to reach an agreement on the forest area for leasing purposes. The company was requested to complete the forest resource inventory as per their commitment, develop a sustainable forest management plan, and address reforestation on areas affected by deforestation.
Urgent Measures for Forest Protection
To move forward, the Department of Agriculture and Rural Development has urgently requested Saigon Dai Ninh Company to complete the inventory and reassess the forest resources within the Saigon Dai Ninh project, submitting the findings by March 31. This assessment will be used as the basis for leasing the forest, fulfilling financial obligations, and developing a sustainable forest management plan.
The company is also expected to allocate personnel for forest protection and fire prevention within the project area. Additionally, they are required to complete reforestation efforts and restore the lost forest areas as per the provisions of the Forestry Law.
Saigon Dai Ninh Project: A Complex Scenario
The Saigon Dai Ninh project, undertaken by Saigon Dai Ninh Company, has a total investment of 25,243 billion dong and covers an area of 3,959 hectares in four communes: Ninh Gia, Ninh Loan, Phu Hoi, and Ta Hine in Duc Trong district. This project has been identified as a key project by the Lam Dong People’s Committee.
Over the past 13 years, the project has caused the loss of 257.5 hectares of forest and encroached upon 111 hectares of forest land. Compensation has been provided for the lost forest area of 257 hectares, amounting to approximately 18.8 billion dong. However, the encroached 111 hectares of forest land have not yet been fully recovered.
Legal and Leadership Issues
Nguyen Cao Tri, the CEO of Saigon Dai Ninh Company, has been arrested in connection with embezzling around 1,000 billion dong from Truong My Lan, the owner of Van Thinh Phat Group.
In other related legal proceedings, several leaders in Lam Dong province were also arrested in 2023. This includes Tran Duc Quan, the Secretary of the Provincial Party Committee, who was charged with “Abusing power or position while performing official duties.” Tran Van Hiep, the Chairman of the Provincial People’s Committee, and Nguyen Ngoc Anh, the Chief Inspector of Lam Dong province, were also arrested for “Accepting bribes.”
For more information on business and finance, visit Business Today.