Nha Trang’s old airport where Phuc Son Group was assigned land for a project. Photo: Xuan Ngoc.
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The People’s Committee of Khanh Hoa province has issued a document instructing departments and relevant units to inspect and review all projects and works of Phuc Son Group Joint Stock Company (Phuc Son Company) and its subsidiaries.
The provincial People’s Committee requires departments and relevant units to work with Phuc Son Company to inspect and review the projects and works that the company is investing in or constructing in the province.
This move is made to determine the continuation of investment and construction by Phuc Son Company for ongoing projects and any difficulties or obstacles. The provincial People’s Committee requires the units to carry out the inspection and report the results by March 30, 2024.
Projects invested by Phuc Son Group in Khanh Hoa that have been left unfinished for many years are being inspected. Photo: Xuan Ngoc.
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In late February, the provincial People’s Committee directed departments and units under the province, as well as the provincial Tax Department and the provincial Inspectorate, to provide all relevant records and documents regarding the process of approving investment policies, selecting investors, and implementing investment and construction by Phuc Son Company, along with other related issues.
The Criminal Investigation Department for Corruption, Economics, and Smuggling under the Ministry of Public Security (the Economic Police Department) requested Khanh Hoa province to provide the above information to support their investigation.
Earlier in February, Mr. Nguyen Van Hau, Chairman of the Board of Directors of Phuc Son Group Joint Stock Company, along with many lower-level officials, were arrested and detained for investigation into serious accounting violations.
 Two residential projects of Phuc Son Group after 10 years still have empty land. Photo: Xuan Ngoc.
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As reported by VietNamNet, in Khanh Hoa, Phuc Son Company is involved in disputes related to the urban center project for commerce, services, finance, and tourism in Nha Trang (the old Nha Trang airport). The company was assigned the land but has only completed the infrastructure work. Inside, it is still messy with overgrown grass. The company was required by Khanh Hoa province to contribute over 11,000 billion VND to the state budget, but the company has not fulfilled its financial obligations.
Phuc Son Group is also responsible for implementing 3 BOT (Build-Operate-Transfer) transportation projects assigned by the Khanh Hoa provincial People’s Committee. These projects have been implemented for many years but have not been completed.
Phuc Son Company is also the investor of two residential projects: Phuc Khanh 1 and Phuc Khanh 2 in Nha Trang City and Dien Khanh District. After nearly 10 years, these two projects have not completed land clearance and compensation work.
Xuan Ngoc
