Owner of beverage giant Tan Hiep Phat arrested
The general director of Tan Hiep Phat Beverage Group and his two daughters were arrested on Monday for abusing trust to appropriate property.
Tran Qui Thanh, Tran Uyen Phuong and Tran Ngoc Bich Thanh were taken into custody according to decisions signed by the Ministry of Public Security's investigative agency (C01).
C01 on Monday searched the three defendants' residences and workplaces at nine locations. Tan Hiep Phat is the largest Vietnamese beverage company.
Police stand in front of Tan Hiep Phat Beverage Group's headquarters in Ho Chi Minh City. Photo courtesy of Dan Tri magazine.
According to the investigative agency, the prosecution is handling complaints made by people from Ho Chi Minh City and Dong Nai province who accuse the trio and other individuals of fraudulently appropriating property, abusing trust to appropriate property, and evading tax. Such acts are related to projects and real estate of great values in Dong Nai and HCMC.
In March 2021, C01 prosecuted a case of property fraud after it received allegations from Le Van Lam, general director of Kim Oanh Dong Nai Development Investment and Development JSC (Kim Oanh Dong Nai Company); Nguyen Van Chung, director of DCB Company; and Lam Hoang Son.
In his petition, Lam claimed that Thanh, his daughter Phuong and related people had appropriated property by transferring projects and company shares. The contracts were faked to hide loans, Lam said.
Lam argued that these acts had caused more than VND1 trillion ($42.65 million) in damages to Kim Oanh Dong Nai Company.
Phuong's legal representative told local media that Kim Oanh Dong Nai Company's allegations were unfounded.
After 20 months of investigations, in November 2022, C01 temporarily suspended the case, saying it needed more time to further clarify damages related to the allegations.
- Read More
Central Vietnam city Danang seeks investors for $69.3 mln semiconductor chip lab
Danang city is seeking investors for a VND1.8 trillion ($69.29 million) project to establish a laboratory dedicated to advanced chip packaging technology.
Industries - Mon, May 12, 2025 | 12:53 pm GMT+7
Vietnam’s private economy resolution requires different implementation approach: economist
Resolution 68-NQ/TW, issued on May 4, 2025 by the Politburo - the country's supreme decision-making body, introduces breakthrough perspectives on the position and role of the private sector, says Dr. Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM),
Economy - Mon, May 12, 2025 | 9:38 am GMT+7
Vingroup subsidiary expects 17-fold surge in net profit
Vietnam Exhibition Fair Centre JSC (VEF), a subsidiary of conglomerate Vingroup, said it targets to rake in a net profit of VND16 trillion ($615.89 million) in 2025, nearly 17 times higher than last year’s figure.
Companies - Mon, May 12, 2025 | 8:22 am GMT+7
Vietnam, Russia sign cooperation agreements in diverse sectors
Vietnam’s Party General Secretary To Lam and Russian President Vladimir Putin witnessed the exchange of cooperation documents between the two countries following their Moscow summit meeting on May 10.
Politics - Sun, May 11, 2025 | 10:28 pm GMT+7
Russian heavyweights seek opportunities in Vietnam's energy, high-tech fields
Prominent Russian companies Zarubezhneft, AFK Sistema, and Positive Technologies are seeking investment opportunities in energy and high technology in Vietnam.
Industries - Sun, May 11, 2025 | 10:16 pm GMT+7
Vietnam, Russia adopt major orientations to chart course for bilateral ties
Vietnam and Russia have adopted a Joint Statement on major orientations to chart course for bilateral relations on the occasion of Party General Secretary To Lam's official visit to Russia from May 8-11.
Politics - Sun, May 11, 2025 | 9:18 pm GMT+7
Vietnam's leading tour operator Vietravel before capital hike: Revenue grows, profit shrinks
Ho Chi Minh City-based Vietravel has seen strong revenue growth over the past three years on the tourism industry's post-pandemic recovery, but its profit has continued to decline, with a profit margin of only around 0.5%.
Companies - Sun, May 11, 2025 | 1:34 pm GMT+7
Central Vietnam province Binh Dinh to select solar, wind power investors via tender
Vietnam’s central coastal province of Binh Dinh has allocated land plots for 22 projects, including eight for solar, wind, and geothermal power development, that will seek investors via tender.
Energy - Sun, May 11, 2025 | 11:39 am GMT+7
Vietnam's Party chief holds talks with Russian President Putin, agreeing on major orientations for bilateral ties
Vietnam's Party chief To Lam held talks with Russian President Vladimir Putin at the Kremlin Palace in Moscow on Saturday (local time), within the framework of his official visit to Russia.
Politics - Sun, May 11, 2025 | 8:20 am GMT+7
Policy support for private enterprises poised to drive Vietnam’s stock market
Amid global uncertainties and complex geopolitical shifts, financial experts believe that Vietnam’s new Resolution 68 on private sector development, signed by the Politburo on May 4, could become a significant catalyst for the domestic stock market.
Economy - Sun, May 11, 2025 | 8:00 am GMT+7
Malaysia develops data centers to become technology nation
The data center sector can be a catalyst for Malaysia to become a technology nation, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
Southeast Asia - Sat, May 10, 2025 | 11:03 pm GMT+7
Vietnam's V-GREEN signs $300 mln MoU with partners for EV charging ports in Indonesia
V-GREEN, the global electric vehicle (EV) charging station arm of Vietnamese conglomerate Vingroup, on Friday announced the signing of an MoU with four strategic partners to deploy 63,000 VinFast EV charging ports across Indonesia by the end of 2025.
Southeast Asia - Sat, May 10, 2025 | 11:00 pm GMT+7
Northern Vietnam province Bac Ninh records two-fold rise in 4-month registered FDI
Bac Ninh province attracted more than $1.91 billion in registered FDI capital during the first four months of the year, marking a 2.2-fold year-on-year increase, according to provincial official data.
Southeast Asia - Sat, May 10, 2025 | 10:55 pm GMT+7
Vietnam's Dai Hung - Phase 3 project produces first commercial oil flow
The phase 3 of the Dai Hung field development project (Dai Hung - Phase 3) offshore Vietnam has officially begun production of its first oil flow with 6,000 barrels per day, 20 days ahead of the adjusted schedule, according to state-owned Petrovietnam.
Southeast Asia - Sat, May 10, 2025 | 4:34 pm GMT+7
Vietnam's Party chief attends inauguration of Hanoi-Moscow direct flight
Party chief To Lam and a high-ranking Vietnamese delegation attended the launching ceremony of Vietnam Airlines’ Hanoi-Moscow air route on May 9 (local time), as part of his trip to Russia for an official visit and participation in the celebration marking the 80th anniversary of Victory in the Great Patriotic War.
Travel - Sat, May 10, 2025 | 4:29 pm GMT+7
Where does Vietnam's agricultural major Hoang Anh Gia Lai stand in pig farming industry's boom?
Hoang Anh Gia Lai JSC missed out on the Vietnamese pig farming industry’s growth surge from 2024 through Q1 of this year, after halting pig production during a period of low prices.
Companies - Sat, May 10, 2025 | 4:24 pm GMT+7
