Chinese investors have used various ruses to acquire prime land in Vietnam, implicating both economic development and national security, the Ministry of National Defense says.
Between 2011 and 2015, Chinese individuals and businesses bought 135 pieces of land in Da Nang, the central coastal city, the ministry has said in a recent letter responding to voters enquiring about a reported increasing trend of Chinese people investing in prime Vietnamese land.
The purchased land lots are located along seaside residential areas in Ngu Hanh Son and Son Tra Districts, as well as around the Nuoc Man Airbase, which was used as a military airport by the U.S. during the Vietnam War and is now deployed as a fuel warehouse.
Chinese national Liang Zhipei, 45, head of the construction supervision team at the Silver Shores Investment Development Company, Ltd., and Taiwanese national Chiu Chen Tai, deputy director of Pu Fong Trading and Service Co. Ltd, used Vietnamese locals to acquire 84 plots measuring 20,000 square meters and costing more than VND100 billion ($4,300).
The Silver Shores company has also invested in a series of multi-storied hotels in Da Nang.
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