Localities review projects related to troubled contractor Thuan An Group
The people's committees of Quang Nam, Phu Yen, and Dak Lak provinces have ordered a review of investment projects in their localities related to troubled infrastructure builder Thuan An Group JSC.
On Tuesday, the Office of Quang Nam People's Committee said that the committee has instructed departments, divisions, and agencies, and the people's committees of districts and towns to provide information related to Thuan An Group, whose chairman Nguyen Duy Hung was detained on Monday for “violating bidding regulations causing serious consequences”, and “bribery”.

A section of National Highway 14E in Quang Nam province, central Vietnam, implemented by Thuan An Group. Photo by The Investor/Thanh Van.
In the central province of Quang Nam, Thuan An Group joined other partners in a bidding package to construct a section of a VND458 billion ($18 million) project to renovate and upgrade National Highway 14E.
On the same day, Phu Yen People's Committee, also in central Vietnam, issued a written request to the Department of Planning and Investment, the provincial Economic Zone Authority, and other relevant agencies, as well as the people's committees of districts and towns to report on projects and bidding packages implemented by Thuan An Group and its member units.
In March 2019, Thuan An Group won a VND496 billion ($19.56 million) package as part of a traffic infrastructure project in Tuy Hoa town.
Meanwhile, Dak Lak People's Committee in the Central Highlands has requested relevant units to provide records related to Thuan An Group's implementation of a project to build Ho Chi Minh Road - eastern bypass in Buon Ma Thuot town. The project was implemented from 2020 to 2023, with investment capital of over VND1.5 trillion ($59.15 million) sourced from the central budget.
Chairman Nguyen Duy Hung and five other officials of Hanoi-headquartered Thuan An Group were detained by the Ministry of Public Security’s investigative agency for violations that occurred at Thuan An Group and related units.
In addition to Hung, others subjected to legal proceedings are Tran Anh Quang, general director of Thuan An Group, on charges of “giving bribes”; Nguyen Khac Man, deputy general director, for “violating bidding regulations causing serious consequences” and “bribery”; Nguyen Van Thao, director of Bac Giang province’s management board for agricultural and transport investment projects; deputy director Dam Van Cuong for “violating bidding regulations causing serious consequences” and “receiving bribes”; and Hoang The Du, head of a division at the management board, for “violating bidding regulations causing serious consequences”.
The investigation is being expanded to clarify the violations at Thuan An Group and related units.
Thuan An Group, formerly known as Thuan An Trading and Construction Development JSC, was established on August 4, 2004, headquartered at 141 Truong Chinh street, Hanoi. As of December 7, 2021, the company's charter capital was VND800 billion ($32 million), with nearly 32% held by chairman Nguyen Duy Hung.
Thuan An Group is a prominent name in the infrastructure construction market. Forming partnerships with other units, it has won a series of large construction contracts in provinces and cities across the country.
It has bidded for 51 packages and won 39 of them with a total value of more than VND22.6 trillion ($890.8 million).
- Read More
Deal acquiring financial firm of Vietnam's SeABank invalid: Aeon Financial
Aeon Financial Service Co., Ltd. on Friday stated that its deal to purchase a financial company owned by Vietnam's SeABank is invalid due to "inappropriate accounting transactions."
Finance - Fri, June 6, 2025 | 11:57 pm GMT+7
VSAP LAB to build $69 mln chip packaging tech laboratory in central Vietnam
Vietnamese private firm VSAP LAB JSC has been approved as the investor of a VND1.8 trillion ($69.11 million) advanced packaging technology laboratory project that will assist semiconductor production in the central city of Danang.
Industries - Fri, June 6, 2025 | 8:11 pm GMT+7
Vietnam's major property developer Hoang Huy successfully raises $30.7 mln from parent company
Hoang Huy Investment Services JSC (HoSE: HHS) has successfully issued 64 million shares for VND800 billion ($30.7 million) via private placement to its parent company – Hoang Huy Financial Services Investment JSC (TCH).
Companies - Fri, June 6, 2025 | 3:32 pm GMT+7
Subsidiaries, affiliates likely not to enjoy preferential corporate income tax in Vietnam
Subsidiaries and affiliates of enterprises in Vietnam might not be eligible for preferential corporate income tax (CIT) rates of 15-17%, in order to prevent abuse of incentives like splitting income for tax avoidance, according to the Financial and Economic Committee under the National Assembly, the country's legislature.
Finance - Fri, June 6, 2025 | 3:22 pm GMT+7
VPS Securities JSC named Vietnam’s best broker again by The Asset
VPS Securities JSC (VPS) has once again been honored as the “Best Brokerage House in Vietnam” at the Triple A Awards 2025, presented by The Asset, a leading Asia-focused financial publication.
Companies - Fri, June 6, 2025 | 11:40 am GMT+7
Vietnam's agri major BAF eyes two 6-story buildings for pig farming in southern Vietnam
BAF Vietnam Agriculture JSC has submitted a proposal to the Ministry of Agriculture and Environment to develop a smart pig farming complex including two six-story buildings in the southern provinces of Tay Ninh and Binh Phuoc.
Industries - Fri, June 6, 2025 | 11:20 am GMT+7
Food major Kido leaders reveal real estate ambitions
Leaders of Kido Group, a leading Vietnamese food and cooking oil producer, said they see many positive policies that are helping to ease real estate market difficulties and create favorable conditions for the company to develop projects on its land reserves.
Real Estate - Fri, June 6, 2025 | 11:03 am GMT+7
Indonesia accelerates procedures to join OECD
The Indonesian Government has finalised the preparation of the Initial Memorandum (IM) for its accession to the Organisation for Economic Co-operation and Development (OECD), which will be submitted to OECD Secretary-General Matthias Cormann in Paris, France.
Southeast Asia - Fri, June 6, 2025 | 10:16 am GMT+7
OECD lowers Indonesia's growth forecast to 4.7%
The Organisation for Economic Cooperation and Development (OECD) has lowered its forecast for Indonesia's economic growth down to 4.7% this year, from the previous 4.9%, due to weakened domestic sentiment and heightened external risks.
Southeast Asia - Fri, June 6, 2025 | 10:15 am GMT+7
Vietnam, US sign additional agricultural trade deals worth over $600 mln
Vietnam and the U.S. on Wednesday signed MoUs on importing animal feed materials from Ohio state with total value exceeding $600 million.
Economy - Fri, June 6, 2025 | 10:03 am GMT+7
My Thuy deepwater port to become central Vietnam logistics hub
My Thuy Deepwater Port, once operational, will not only create a new growth pole for the central province of Quang Tri and serve as a gateway to the East Sea, but also become a regional logistics hub.
Infrastructure - Fri, June 6, 2025 | 8:00 am GMT+7
Vietnam's 5-month registered FDI hits $18.4 bln, up 51%
Registered foreign direct investment (FDI) in Vietnam hit $18.4 billion in the first five months of the year, up 51.1%, while disbursed capital reached $8.9 billion, up 7.9%.
Economy - Thu, June 5, 2025 | 6:52 pm GMT+7
Indonesia launches economic stimulus package to boost purchasing power
The Indonesian Government has rolled out an economic stimulus package worth IDR24.44 trillion (nearly $1.53 billion) to maintain consumer purchasing power and stabilize the national economy.
Southeast Asia - Thu, June 5, 2025 | 4:06 pm GMT+7
Vinhomes subsidiary to develop two industrial parks worth $383 mln in northern Vietnam
Vinhomes Hai Phong Industrial Park Investment JSC under Vinhomes, the housing arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to be the investor of two industrial parks worth VND10 trillion ($383 million) in the northern port city of Hai Phong.
Real Estate - Thu, June 5, 2025 | 3:54 pm GMT+7
Agriculture drives Indonesia’s economic growth
Agriculture is emerging as a key driver of Indonesia’s economic growth, especially in the first quarter of 2025, according to the latest report by the Indonesian Institute for Development of Economics and Finance (INDEF).
Southeast Asia - Thu, June 5, 2025 | 3:46 pm GMT+7
Vietnam's logistics heavyweight Gemadept plans over $38 mln buyback if shares plunge
Gemadept, Vietnam's leading port and logistics company, listed on the Ho Chi Minh Stock Exchange as GMD, plans to buy back 21 million shares, equivalent to 5% of its outstanding shares.
Companies - Thu, June 5, 2025 | 3:32 pm GMT+7