Binh Thuan vice chairman arrested over land violations

By Thai Ha, Trang Nguyen
Tue, December 13, 2022 | 10:31 am GMT+7

Nguyen Van Phong, vice chairman of the Binh Thuan People's Committee, was arrested Monday for violations at a real estate project in Phan Thiet town.

Phong, also former director of the south-central province's finance department, was detained for the alleged "lack of responsibility causing serious consequences" per the Penal Code.

On the same day, the Ministry of Public Security's investigative agency placed seven others under investigation for "violations of regulations on the management and use of state assets, causing loss and waste" at the Tan Viet Phat 2 residential, service and commercial area project in Binh Thuan province's Phan Thiet town.

Nguyen Van Phong, vice chairman of the Binh Thuan People's Committee. Photo courtesy of the province's portal.

Nguyen Van Phong, vice chairman of the Binh Thuan People's Committee. Photo courtesy of the province's portal.

In 2008, the Binh Thuan People's Committee planned to auction three plots of land with a total area of 92,600 square meters. In 2013, the committee approved the starting price of over VND111 billion ($4.7 million) for the plots, or VND1.2 million ($51) per square meter.

In 2017, the province's department of natural resources and environment proposed the committee allow Tan Viet Phat JSC to attain the land use rights without going through any auction, and the price offered is the starting price. This was agreed by relevant departments and the people's committee.

The local government explained that auctions were not needed as Tan Viet Phat was the only entity registering to join auctions.

The investigative agent later hired an independent valuation unit to determine the price of the land lots.

Accordingly, the value of land use rights of the 92,600 square meters at the time of land allocation on March 7, 2017 was nearly VND156.5 billion ($6.62 million), or VND1.7 million per square meters.

This means the province's budget suffered a loss of more than VND45 billion ($1.9 million).

Comments (0)
  • Read More
Samsung Vietnam earns $31.4 bln in 2024, down 10%  

Samsung Vietnam earns $31.4 bln in 2024, down 10%  

Samsung Vietnam, under South Korean chaebol Samsung, earned a revenue of $31.4 billion in 2024, down 10% year-on-year, the firm reported.

Companies - Sat, January 11, 2025 | 10:52 pm GMT+7

VinFast sets new monthly EV delivery record in Vietnam

VinFast sets new monthly EV delivery record in Vietnam

VinFast, an electric vehicle manufacturer under Vietnam's conglomerate Vingroup, delivered over 20,000 electric cars in December 2024, a 20% increase from the previous month and the highest monthly delivery for a car brand in the local market.

Companies - Sat, January 11, 2025 | 6:36 pm GMT+7

Russian PM’s visit to lift Vietnam-Russia relations

Russian PM’s visit to lift Vietnam-Russia relations

Russian Prime Minister Mikhail Vladimirovich Mishustin will pay an official visit to Vietnam from January 14-15, over six months after the state visit by President Vladimir Vladimirovich Putin.

Politics - Sat, January 11, 2025 | 10:42 am GMT+7

Half of Military Bank credit earmarked for retail banking, SMEs: CEO

Half of Military Bank credit earmarked for retail banking, SMEs: CEO

At least 50% of Hanoi-based Military Bank’s (MB) credit expansion in 2025 will go to retail banking and small and medium enterprises, while the rest to large enterprises.

Banking - Sat, January 11, 2025 | 10:02 am GMT+7

Vietnam conglomerate Vingroup to set up robotics company

Vietnam conglomerate Vingroup to set up robotics company

Vingroup, the largest private conglomerate in Vietnam, plans to establish VinMotion, a company specializing in research, development, and application of multifunctional robots.

Companies - Sat, January 11, 2025 | 9:44 am GMT+7

S Korea’s SK to sell part of stake in Vietnam conglomerate Vingroup

S Korea’s SK to sell part of stake in Vietnam conglomerate Vingroup

South Korean chaebol SK Group plans to sell about 50.86 million VIC shares of Vietnam’s conglomerate Vingroup as part of its investment portfolio restructuring strategy.

Companies - Sat, January 11, 2025 | 9:25 am GMT+7

Primary apartment sales in HCMC, surrounding areas rise 24% in 2024: report

Primary apartment sales in HCMC, surrounding areas rise 24% in 2024: report

Sales of primary apartments in Vietnam’s southern metropolis of Ho Chi Minh City and surrounding areas reached 12,506 units in 2024, up 24% year-on-year, according to a report by real estate service provider DKRA Group.

Real Estate - Sat, January 11, 2025 | 8:00 am GMT+7

Shares of Vietnam's leading developer Novaland sink to record low

Shares of Vietnam's leading developer Novaland sink to record low

Shares of Vietnam’s leading real estate developer, Novaland, fell below par value to VND9,920 ($0.39) apiece on Friday, marking their lowest level since the company’s listing in late 2016.

Companies - Fri, January 10, 2025 | 10:49 pm GMT+7

Vietnam’s Big 4 banks post record profits in 2024

Vietnam’s Big 4 banks post record profits in 2024

The four largest banks in Vietnam by total assets - BIDV, VietinBank, Agribank, and Vietcombank - reported record profits totaling an estimated VND126 trillion ($4.97 billion) in 2024, marking an all-time high.

Banking - Fri, January 10, 2025 | 10:34 pm GMT+7

BRICS membership opens door for Indonesia to access Russia’s crude oil

BRICS membership opens door for Indonesia to access Russia’s crude oil

Indonesia’s recent entry to the BRICS bloc could provide the nation with potential economic advantages, particularly in addressing trade deficit in the oil and gas sector, according to state news agency Antara.

Southeast Asia - Fri, January 10, 2025 | 9:22 pm GMT+7

Philippines' rice imports hit record high in 2024

Philippines' rice imports hit record high in 2024

The Philippines' rice imports in 2024 rose to a new all-time high of almost 4.7 million metric tons as the country turned to foreign supplies to plug its shortfall in domestic stocks and temper retail prices of the staple.

Southeast Asia - Fri, January 10, 2025 | 9:14 pm GMT+7

Indonesia pins hopes on BRICS membership

Indonesia pins hopes on BRICS membership

Amelia Anggraini, a member of the House of Representatives (DPR) of Indonesia, has said that Indonesia’s official membership of the BRICS grouping must bring real benefits to its people.

Southeast Asia - Fri, January 10, 2025 | 9:08 pm GMT+7

Malaysia looks to leverage RCEP during ASEAN chairmanship

Malaysia looks to leverage RCEP during ASEAN chairmanship

As chair of the Association of Southeast Asian Nations (ASEAN) this year, Malaysia plans to focus on leveraging the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade agreement now in force.

Southeast Asia - Fri, January 10, 2025 | 9:06 pm GMT+7

Vietnam ministry asks AES to revise LNG power project feasibility study per new Electricity Law

Vietnam ministry asks AES to revise LNG power project feasibility study per new Electricity Law

AES should revise its feasibility study report for the Son My 2 LNG-to-power plant per the new Electricity Law 2024, says Deputy Minister of Industry and Trade Nguyen Hoang Long.

Energy - Fri, January 10, 2025 | 5:31 pm GMT+7

Vietnam 'sometimes' lacks electricity supply for semiconductor sector: gov’t

Vietnam 'sometimes' lacks electricity supply for semiconductor sector: gov’t

Vietnam’s electricity supply for the semiconductor sector is insufficient “in some locations sometimes,” the government admitted in a dispatch issued on Monday.

Economy - Fri, January 10, 2025 | 4:58 pm GMT+7

$2 bln LNG power plant in northern Vietnam to start construction in late 2025

$2 bln LNG power plant in northern Vietnam to start construction in late 2025

The $2 billion LNG Thai Binh power plant project in Thai Binh province aims to complete its feasibility study in the second quarter of this year and begin construction in Q4/2025.

Energy - Fri, January 10, 2025 | 2:11 pm GMT+7