One of the large projects undertaken by Phuc Son Group Joint Stock Company in Vinh Phuc is the Phuc Son commercial center and residential area, with a phase 1 scale of 15 hectares. The project is implemented in Vinh Tuong district, Vinh Phuc province. The total investment capital of the project is about 1,668 billion VND.
After phase 1, the project has basically completed the technical infrastructure system such as foundation, electricity, water, transportation, green trees, and kindergarten.
In phase 2, the investor will build social infrastructure and the rough part of residential and commercial buildings located on both sides of Provincial Road 304.
The Phuc Son commercial center and residential area in Thuong Trung commune, Vinh Tuong district, Vinh Phuc. Photo: Nhi Tien
|
Some completed rough items but left deserted. Photo: Nhi Tien
|
 Inside an unfinished house in the Phuc Son residential project. Photo: Nhi Tien
|
Out of the 98.3 hectares of urban residential and commercial land, the area in Tho Tang township is about 27.24 hectares, the area in Vinh Son commune is about 2.21 hectares, and the largest area is the area in Thuong Trung commune, totaling about 68.84 hectares.
The residential and commercial land use, including the old and new residential areas, is 16.4 hectares, of which 10.74 hectares are located in Vinh Tuong township and 5.71 hectares are in Thuong Trung commune.
According to VietNamNet’s investigation, some households in phase 2 of the Phuc Son commercial center and residential area have not been granted land titles. The arrest of Phuc Son Group’s Chairman Nguyen Van Hau has left the residents worried and anxious.
Mr. Vu Van H., who bought land in the project since 2016, shared: “I also don’t know why I haven’t been granted the land title. When I asked the company, they said it hasn’t been issued yet because the infrastructure is not completed. When I learned that the Chairman of Phuc Son Group was arrested, I became very worried and felt like sitting on a hot fire, unsure of how my purchased land will be resolved.”
Mr. Vu Van H.’s house – one of the residents who have not been granted land titles. Photo: Nhi Tien
|
“When incidents like this happen, we can only trust in the law and hope for a fortunate outcome,” said Mr. D., a resident without a land title in the Phuc Son commercial center and residential area.
Another billion-dollar project invested by Phuc Son Group, owned by Nguyen Van Hau, is the Vinh Tuong wholesale market project. This project was transferred from Song Hong Thang Long Investment Construction Joint Stock Company to Phuc Son Group in 2019.
The project includes a wholesale agricultural products market, warehouse system, and Vinh Tuong commercial urban area with a total capital of over 2,000 billion VND and a total area of over 186 hectares. The urban area is in the process of construction and covers an area of nearly 93 hectares. This project is located in Yen Lap, Tan Tien, and Lung Hoa communes in Vinh Tuong district.
Although the market has been built systematically, there is still no sign of sellers or buyers.
Rented houses in the Vinh Tuong wholesale market project. Photo: Nhi Tien
|
The road in front of the market is beautiful. Photo: Nhi Tien
|
 However, the wholesale market is empty with no buyers or sellers. Photo: Nhi Tien
|
Observing the market, there are only a few kiosks rented by sellers, even though the road in front of the market is bustling with people.
“This road is very busy, especially in the evening, but sellers from Tho Tang do not come here to do business. There are only about 4 shops open for business in the market,” said Ms. B., a seller at the market.
When asked about the reason, Ms. B. said: “At the beginning, kiosks were lent for free. However, after 6 months, they had to be purchased. Due to the expensive purchase fees, no one is doing business here anymore. I am currently renting a kiosk from someone who has already bought one, and it costs me 1.5 million VND per month, but due to the lack of customers, there is not much profit.”
According to the authorities, these two projects invested by Phuc Son Group in Vinh Phuc have been found to have undeclared taxes, resulting in over 460 billion VND of losses to the state budget.
Only a few sellers can be seen in this wholesale market area. Photo: Nhi Tien
|
 Further inside the market, the kiosks are empty, indicating that there used to be bustling trading activities here. Photo: Nhi Tien
|
Nhi Tien
