Hanoi freezes assets of 762 Van Thinh Phat Group scam-related companies
Hanoi’s Department of Planning and Investment has frozen assets of 762 legal entities related to the alleged fraud that occurred at property developer Van Thinh Phat Group.
The move aims at preventing any transfers, donating or using as collateral of the assets at these companies, the Hanoi department said.
The 762 legal entities are allegedly related to individuals and entities involving the Tan Hiep Phat fraud case. The list of involving individuals comprises of 11 people.
The document, dated October 11, was sent to authorities of city districts, townships and relevant administrative units.
Van Thinh Phat Office Building in District 1, Ho Chi Minh City. Photo courtesy of Young People newspaper.
On October 8, Truong My Lan, chairwoman of HCMC-based property developer Van Thinh Phat Group, was arrested for alleged fraud in the issuance and trading of corporate bonds. The 66-year-old was accused of illegally issuing bonds to raise trillions of Vietnamese dong (tens of millions of dollars) from investors during the 2018-2019 period.
Hanoi's planning and investment department said it has been asked by the Ministry of Public Security’s investigative agency to provide information for the probe.
HCMC's police had asked the city's Department of Naural Resources and Environment to provide information on land use rights related to 156 land plots involving Van Thinh Phat, mainly in districts 1, 3, 5, 7, Binh Chanh, and Thu Duc City on the outskirts.
- Related News
- Read More
Vietnam Manufacturing Purchasing Managers' Index hits record high since Feb
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) rose to 52.8 in May, up from 50.5 in April and reaching its highest since February, just before the outbreak of war in the Middle East.
Economy - Mon, June 1, 2026 | 8:19 pm GMT+7
Brewing Tomorrow: How Carlsberg Vietnam turns sustainability into everyday action at World Environment Day 2026
More than 150 volunteers from Carlsberg Vietnam, including senior leaders, employees, family members, local residents, and representatives from the Embassy of Denmark in Vietnam, joined a beach clean-up activity in Danang as part of the company’s World Environment Day 2026 program, reaffirming its long-term commitment to sustainability and environmental action in Vietnam.
Companies - Mon, June 1, 2026 | 7:20 pm GMT+7
Automakers in Vietnam back E10 gasoline rollout as biofuel goes nationwide
Major Japanese automakers and motorcycle manufacturers in Vietnam have confirmed that most of their vehicles are compatible with E10 biofuel gasoline, as the country has begun nationwide sale of the fuel in a push to reduce emissions and cut reliance on conventional fossil fuels.
Economy - Mon, June 1, 2026 | 4:44 pm GMT+7
VinFast partners with Nvidia, Autobrains to develop level-4 robotaxi system for Southeast Asia
VinFast, the EV arm of Vietnamese conglomerate Vingroup (HoSE: VIC), and AI mobility company Autobrains has announced a strategic collaboration for a next-generation level 4 program for Southeast Asia built on NVIDIA DRIVE Hyperion.
Companies - Mon, June 1, 2026 | 3:56 pm GMT+7
Samsung Thai Nguyen, TTC solar plant become first participants in Vietnam's direct power purchase mechanism
Samsung Electronics Vietnam Thai Nguyen (SEVT) and TTC Duc Hue 2 Solar Power Plant have become the first entities to operate under Vietnam's direct power purchase agreement (DPPA) mechanism through the national grid from June 1.
Companies - Mon, June 1, 2026 | 3:40 pm GMT+7
Aboitiz Foods, Grab seek to expand investments in green agriculture, digital economy in Vietnam
Philippine food and agribusiness group Aboitiz Foods and Southeast Asian technology company Grab are seeking to expand their investments and partnerships in Vietnam in areas including energy, agriculture-food, digital transformation, smart cities, and green transportation.
Economy - Mon, June 1, 2026 | 12:23 pm GMT+7
HCMC metro stations await commercial ecosystem despite growing ridership
More than a year after the launch of its first metro line, Ho Chi Minh City is still working to develop the commercial economic ecosystem that has underpinned the success of urban rail networks in cities like Tokyo and Hong Kong.
Economy - Mon, June 1, 2026 | 12:12 pm GMT+7
Dai Quang Minh proposes $266 mln shipping channel project in central Vietnam hub Danang
Authorities in the central Vietnam city of Danang have granted in-principle approval for the nearly VND7 trillion ($266 million) Cua Lo shipping channel project, under a build-transfer (BT) model.
Infrastructure - Mon, June 1, 2026 | 8:23 am GMT+7
Singapore's leading firms seek to expand investments in Vietnam
Leading Singaporean companies, including CapitaLand, Sembcorp, SATS, SEA Limited, Keppel and UOB, have expressed interest in expanding investments in Vietnam across sectors ranging from green urban development and industrial real estate to logistics, data centers, digital finance and next-generation industrial parks.
Economy - Sun, May 31, 2026 | 8:23 pm GMT+7
Vietnam steelmaker Ton Dong A eyes Q3 mainboard listing, bond issuance for expansion drive
Ton Dong A Corporation (UPCoM: GDA), one of Vietnam's leading galvanized steel manufacturers, has unveiled plans for a mainboard listing on the Ho Chi Minh Stock Exchange (HoSE) alongside a multi-factory expansion strategy to capture high-value industrial manufacturing segments.
Companies - Sun, May 31, 2026 | 2:20 pm GMT+7
PTSC plans capital hike to $233 mln through stock dividend issue
PetroVietnam Technical Services Corporation (PTSC), a unit of state-owned energy group Petrovietnam, plans to raise its charter capital to more than VND6.14 trillion ($233 million) through a stock dividend issuance to strengthen its financial position and support a pipeline of major oil, gas and renewable energy projects.
Companies - Sun, May 31, 2026 | 8:26 am GMT+7
Vietnam's real estate developer Novaland seeks creditor waiver on $300 mln offshore bond
Embattled Vietnamese property developer Novaland (HoSE: NVL) is seeking a waiver on upcoming payment obligations for its $300 million international bond package, as the company pushes to restructure its offshore debts.
Companies - Sun, May 31, 2026 | 7:54 am GMT+7
Vietnam competition watchdog intervenes, Shopee delays new fee policy
Shopee has postponed the rollout of a new fee policy under its "Visibility Maintenance Program" after Vietnam's competition regulator raised concerns over its impact on sellers and market competition.
Companies - Sat, May 30, 2026 | 10:31 pm GMT+7
International media highlight Vietnamese top leader's keynote address at Shangri-La Dialogue
The keynote policy address delivered by Vietnam's Party General Secretary and President To Lam at the opening session of the 23rd Shangri-La Dialogue in Singapore on Friday has drawn wide attention from international media outlets and observers.
Politics - Sat, May 30, 2026 | 10:09 pm GMT+7
Vietnam, Singapore expand VSIP network, deepen next-generation economic cooperation
Vietnam and Singapore have agreed to deepen economic cooperation and expand the Vietnam-Singapore Industrial Park (VSIP) network, with five new VSIP projects receiving investment certificates during a state visit by Vietnam's top leader To Lam to Singapore.
Economy - Sat, May 30, 2026 | 9:49 pm GMT+7
Japan conglomerate Mitani Sangyo eyes agricultural processing investment in central Vietnam
Mitani Sangyo Co., a diversified trading and manufacturing group with nearly a century of history, is exploring agricultural processing opportunities in Dak Lak province, central Vietnam as part of efforts to promote deeper value-added production and a circular economy.
Industries - Sat, May 30, 2026 | 2:52 pm GMT+7
