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.
- Read More
Vietnam’s leading retailer Mobile World posts 13% revenue growth in Jan-Apr
Vietnamese retail giant Mobile World Investment Corp (HoSE: MWG) reported a 13% year-on-year rise in revenue to VND48.6 trillion ($1.77 billion) in the first four months of this year, reaching 32% of its full-year target.
Companies - Sun, May 25, 2025 | 8:00 am GMT+7
Samsung Vietnam seeks VAT refund for HCMC subsidiary
Samsung Vietnam CEO Na Ki-hong brought up the issue of value-added tax (VAT) refunds for Samsung Electronics HCMC CE Complex (SEHC) in Ho Chi Minh City at his working session with Minister of Finance Nguyen Van Thang on Thursday.
Companies - Sat, May 24, 2025 | 2:48 pm GMT+7
Hundreds of wind, solar power investors petition Vietnam authorities to uphold feed-in tariffs
Investors and financial institutions related to 173 wind and solar power projects in Vietnam have called on the government to maintain the feed-in tariffs (FIT) and commercial operation dates (COD) previously recognized.
Energy - Sat, May 24, 2025 | 12:30 pm GMT+7
Why Vietnam struggles to attract private aviation investment
Vietnam’s aviation sector has grown rapidly, but its airport infrastructure struggles to keep up with rising demand, posing challenges for expansion and efficiency, writes Dr Chu Thanh Tuan, associate program manager of the Undergraduate Business Program at RMIT Vietnam.
Consulting - Sat, May 24, 2025 | 8:00 am GMT+7
Sun Group seeks support to accelerate 2 urban area projects in southern Vietnam
Sun Group, a leading real estate developer in Vietnam, on Thursday asked Binh Duong province authorities for more support to speed up its two major urban area projects.
Real Estate - Fri, May 23, 2025 | 11:16 pm GMT+7
Hyundai Life enters Vietnam’s consumer goods market
Hyundai Life, a subsidiary of South Korea's top-tier industrial brand Hyundai Corporation Holdings, has officially entered the Vietnamese market, launching three product lines: home appliances, lighting equipment, and smart door locks.
Companies - Fri, May 23, 2025 | 10:44 pm GMT+7
China’s C&D Group plans $2 bln paper, pulp facility in central Vietnam
C&D Group of China, which ranks 85th on the Fortune Global 500, has proposed a $2 billion finished paper and pulp facility in Vietnam’s central province of Quang Binh.
Industries - Fri, May 23, 2025 | 4:50 pm GMT+7
Logistics, free trade zone projects proposed for My Thuy Port area in central Vietnam
My Thuy International Port Joint Venture Company (MTIP) has proposed studying several projects associated with its investment in My Thuy Port of Quang Tri province, central Vietnam.
Infrastructure - Fri, May 23, 2025 | 3:10 pm GMT+7
Packaging plays key role in attracting Thai consumers: Central Retail exec
Vietnamese businesses need to prioritize eco-friendly and modern packaging designs to appeal to Thai consumers, said Chailermchai Pornsiripiyakool, head of CSR & international corporate affairs at Central Retail.
Companies - Fri, May 23, 2025 | 2:41 pm GMT+7
VSIP eyes $86 mln residential project in central Vietnam
VSIP Nghe An Co. Ltd., the developer behind facilities under the Vietnam-Singapore Industrial Park (VSIP) model, has proposed a VND2.24 trillion ($86.3 million) residential area project in the central province of Nghe An.
Real Estate - Fri, May 23, 2025 | 1:16 pm GMT+7
Is Vietnam's steel major SMC emerging from shadows?
Steel manufacturer SMC Trading Investment JSC (HoSE: SMC) has dodged delisting, but its path to recovery remains rocky as the steel industry grapples with mounting challenges.
Companies - Fri, May 23, 2025 | 12:08 pm GMT+7
Thailand sees car sales bounce back after nearly 2 years
Domestic car sales in Thailand rose by 1% year-on-year in April, the first increase in 23 months, according to the Federation of Thai Industries (FTI).
Southeast Asia - Fri, May 23, 2025 | 8:51 am GMT+7
US set to impose steep tariffs on solar panel imports from Southeast Asia
The US International Trade Commission (ITC) determined on May 20 that domestic solar panel makers were materially harmed or threatened by a flood of cheap imports from four Southeast Asian nations, bringing the US a step closer to imposing stiff duties on those goods.
Companies - Fri, May 23, 2025 | 8:50 am GMT+7
Singapore launches five-year study on depression
Singapore’s Institute of Mental Health (IMH) has initiated a five-year study to look at the causes of depression among adults in the country, with the aim of finding ways to prevent it or halt its trajectory.
Southeast Asia - Fri, May 23, 2025 | 8:47 am GMT+7
Thailand aims to cut US trade gap by $15 bln
Thailand expects to reduce its trade surplus with the U.S. by as much as $15 billion a year, or one-third, with its recent initiatives to prevent the misuse of origin rules for exports, according to Thai Deputy Prime Minister and Finance Minister Pichai Chunhavajira.
Southeast Asia - Fri, May 23, 2025 | 8:45 am GMT+7
Q1 revenue of LG Electronics’s Vietnam factories fall 12% to $2 bln
LG Electronics’s factories in Vietnam, both in the northern port city of Hai Phong, recorded a total revenue of KRW2.84 trillion ($2.05 billion) in the first quarter of this year, down 12.3% year-on-year.
Companies - Fri, May 23, 2025 | 8:31 am GMT+7