VietNamNet Bridge - According to the land management agency of Ngu Hanh Son District, Da Nang City, nearly 250 plots of land along the coast of Da Nang are owned by Chinese under the names of Vietnamese.

Mr. Tang Ha Vinh, Director of Land Registration Office of Ngu Hanh Son District, told Nguoi Lao Dong Newspaper that the accurate number of land plots purchased by Chinese was 246.

Vinh said that as the Vietnam law does not allow foreigners to buy land in Vietnam, thr Chinese had hired Vietnamese individuals and organizations to undersign the plots of land.

In particular, 77 plots are managed by private companies, 74 plots by individuals who own at least two plots each, and 95 plots by 95 other individuals.

According to Nguoi Lao Dong newspaper, most of the companies that own 77 land plots are owned by Chinese.

Nguyen Dieu, Director of the Natural Resources and Environment, cited an example on how the Chinese dodge the law. The Chinese give Vietnamese VND3 billion to buy a plot of land. Later, they jointly establish a joint stock company with total capital of about VND30 billion.

The Vietnamese can contribute capital with the plot of land, equivalent to 10% of the shares, while the Chinese contribute VND27 billion (90%) for the company to build a hotel or a restaurant. The Chinese hold the Chairmanship and have the right to make decisions.

Dieu said there are some cases in Da Nang in which Vietnamese and Japanese are partners in companies, in which the shares of the Chinese are much higher.