JavaScript is off. Please enable to view full site.

Vietnamese premier orders inspection of projects developed by Hanoi-based corporation

Wednesday, June 13, 2018, 07:45 GMT+7
Vietnamese premier orders inspection of projects developed by Hanoi-based corporation
The model of a real estate project developed by La Vong Corporation in Ha Dong District, Hanoi. Photo: Tuoi Tre

Vietnamese Prime Minister Nguyen Xuan Phuc has ordered an inspection of a series of projects developed by a corporation in Hanoi due to multiple signs of violations.

PM Phuc tasked the Government Inspectorate, the Ministry of Construction, and the Ministry of Natural Resources and Environment with conducting examinations of the projects implemented by La Vong Group and its subsidiaries across the capital.

The decision was made after a report on many non-transparent signs at the projects was submitted by the municipal People’s Committee.

The report highlighted information exposed by local media, which indicated that La Vong and its companies had been given many valuable land plots in Hanoi to carry out real estate and traffic infrastructure projects under the BT (build-transfer) contract.

A BT contract is a deal signed between a competent state agency and an investor to build an infrastructure facility, which the investor shall transfer to the state upon completion.

In return, the investor will be provided with favorable conditions to implement other projects to recoup their investment and earn profits, or receive payments as agreed in the deal.

According to the report, some of the land parcels allocated to La Vong were not given via a compulsory bidding process, which is necessary to choose the most suitable and competent developer for a project.

Results of the inspection were required to be submitted to the central government prior to December 1. 

Suitable penalties will be imposed if any violation is detected.

Founded in 2003, La Vong Group specializes in trade and services, financial investment, and construction.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Duy Khang / Tuoi Tre News


Read more




Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news