VietNamNet Bridge - In a radius of less than one square kilometer, Van Tuong village in Binh Hai commune of Binh Son district (Dung Quat Economic Zone, Quang Ngai province) has up to four markets worth tens of billion (hundreds of thousands USD).
The VND5 billion ($250,000) Van Tuong Market invested by Hung Thinh Co., Ltd has been left fallow for four years. Photo: VNE
Based on the development of the Dung Quat Economic Zone, in 2007, the Binh Hai Commune People's Committee called for Mr. Do Van Dung to invest in building a market. However, in 2009, Dung’s plot of land was devoted to the resort project of the Ministry of Public Security so the market project was abandoned.
Binh Hai Commune continued to invite other organizations and individuals to invest in the market. In February 2, 2010, Ms. Le Thi Cuc, director of the Hung Thinh Co., Ltd decided to invest VND5 billion in building a market in Van Tuong village.
About one month after the groundbreaking ceremony of the work named "Van Tuong Market," another market which is also named Van Tuong was built by Mr. Dang Tan Thanh right next to the first one. Five months later, the construction of the market invested by Hung Thinh Co. was completed at the same time when the market of Mr. Thanh began operational. It is said that the market built by Mr. Thanh is illegal.
According to traders, the market of Ms. Cuc was gradually abandoned because her company claimed high fees while the illegal market of Mr. Thanh collected only VND2,000 per day from small traders.
Cuc complained that the local government had invited her to build the market but they did not help her company to revive the market. Because of investing in this work, Cuc’s company is suffering from big debts.
The illegal Van Tuong Market.
In addition to these markets, in 2012 the Vietnam Oil and Gas Group (Petro Vietnam) granted funds for Binh Hai Commune to build a market worth VND7 billion ($350,000) named Binh Hai, which is just 200m from the Van Tuong market.
Later that year PetroVietnam handed over the market to Binh Hai commune but the work was also abandoned. Until June 7, 2013, the local government mobilized traders to move from the illegal market to the new market.
Besides, Van Tuong village has a mobile market called “Doc Market” which opens from 7am to 11am every day. Paradoxically, this market is the most crowded compared to the three other expensive markets that are located just 100 meters from each other, because people can stop their vehicles at the market to purchase things and thus they can save the parking fee.
In a poor commune like Van Tuong, it is a huge waste with up to four markets, including three with investment of hundreds of thousands of US dollars.
Mr. Vo Van Phan, Party Secretary of Binh Hai commune, admitted the responsibility of the local authorities in the “oversupply” of markets.
Phan said traders have been banned from doing business in the illegal market of Mr. Thanh. For the Van Tuong market invested by Hung Thanh Company, the local authorities will seek measures to save this market.
Currently, small traders have agreed to move from the illegal market to the market built by PetroVietnam.
On July 1, Mr. Le Minh Huan, Director of the Office of Quang Ngai provincial People’s Committee, said that in the next two months, if Binh Hai commune does not have solutions for dealing with the four markets, the party secretary and the president of Binh Son district will be penalized.