According to a recently issued decision, Mercedes-Benz Vietnam Co., Ltd. will continue to lease the land at 693 Quang Trung Street, Go Vap District, until 13/4/2030. This land is used for the construction of the company's automobile assembly and manufacturing plant.

The Department of Agriculture and Environment will sign a land lease agreement with Mercedes-Benz Vietnam. Concurrently, the Ho Chi Minh City Land Registration Office will reissue the land use rights certificate and ownership certificate of assets attached to the land for the company.

The Department of Agriculture and Environment, along with the Department of Finance and Tax Sub-department of Region II, will determine the land rent for Mercedes-Benz Vietnam. The company is obligated to pay the land rent from 14/4/2025 to 13/4/2030.

The plot of land exceeding 100,000 square meters on Quang Trung Street, Go Vap District, is currently leased to Mercedes-Benz Vietnam Co., Ltd. Graphics: Dang Hieu

Mercedes-Benz Vietnam Co., Ltd. is a joint venture between Saigon Transportation Mechanical Corporation (SAMCO) (holding 30% of the charter capital) and Mercedes-Benz AG Group (Germany). The company was granted an investment license and leased the 10.5-hectare plot of land in Go Vap District for 30 years, from April 1995 to April 2025.

In 2021, Mercedes-Benz Vietnam requested a five-year lease extension and proposed relocation to a new location in 2030. Mid-2021, Ho Chi Minh City agreed in principle, and the company submitted an official request for the extension in September of the same year. However, according to decrees guiding the Law on Management and Use of Public Assets, this land was slated for retrieval and auction after the completion of the capital contribution, joint venture, and association.

According to Ho Chi Minh City, extending the land lease for an additional five years for the company is "essential" and falls under the authority of the head of government, as per regulations. In October 2024, after reviewing the proposal from the Ministry of Planning and Investment, the HCMC PC, and related units, the government approved a five-year lease extension for the Mercedes-Benz Vietnam project, allowing the company to continue leasing the plot exceeding 100,000 square meters in Go Vap District.

Dy Tung