The hidden owners of ‘Chinatown’ in Da NangVietNamNet Bridge - The so-called ‘Chinatown’ located next to Nuoc Man Airport has multi-story hotels and restaurants using Vietnamese names, but in fact, they are owned by Chinese businesspeople. The so-called ‘Chinatown’ located next to Nuoc Man Airport has multi-story hotels and restaurants using Vietnamese names, but in fact, they are owned by Chinese businesspeople. The area, near the seaside on Vo Nguyen Giap Road, is called ‘China town’, because there is a row of Chinese owned hotels and restaurants, with the exception of a hotel.A report of the Ngu Hanh Son district authorities shows that the land has been divided into 246 plots, including 77 plots in advantageous positions which have been allocated to businesses invested in by Vietnamese and Chinese.The businesses include V.N.Holiday Tourism & Service Company which owns 24 land plots, Diep Phuc Loi Trade & Service which owns 17 land plots, Hoang Gia Trung Trade & Service 12 plots, Silver Park Tourist, Trade & Service 4 plots, Nguyen Thinh Vuong Tourist and Trade 10, Silver Sea Trieu Nghiep 7 and Golden Wyn 3.The business registration certificates granted to the companies show Chinese names. It comprises two 18-story blocks and construction is nearly completed.Director of the Da Nang City Planning and Investment Tran Van Son explained that Chinese businessmen exploit legal loopholes to collect land in the city. They contribute capital to businesses and projects and have the right to use the land as investors.Son noted that many projects invested by Chinese have 50 years of land use.Major General Tran Minh Hung said that the Truong Sa, Hoang Sa and Vo Nguyen Giap Roads are areas in important military positions.

Source: VietNamNet News August 27, 2016 03:00 UTC