“The King Bay Project’s ‘Path’ Lands Multiple Leaders in Legal Trouble”

Project Acquisition and Transfer

At the Q3/2025 press conference of the Ministry of Public Security, Senior Colonel Vũ Thanh Tùng, Deputy Director of the Police Department for Investigating Economic, Corruption, and Smuggling Crimes (C03), announced the indictment of Ms. Phan Thị Mỹ Thanh, former Deputy Secretary of Đồng Nai Provincial Party Committee, for “Bribery.” Under the same charge, C03 also indicted Võ Thanh Nhuận, former Head of the Investment Department of Đồng Nai Provincial People’s Committee Office, and Đỗ Đình Ngoan, a property valuer.

C03 also indicted Đinh Quốc Thái and Cao Tiến Dũng, both former Chairmen of Đồng Nai Provincial People’s Committee, along with Võ Văn Chánh and Nguyễn Quốc Hùng, former Vice Chairmen of Đồng Nai Provincial People’s Committee, on charges of “Violating regulations on the management and use of state assets, causing losses and waste.”

Ms. Vũ Minh Lý, Chairwoman of Free Land Joint Stock Company, was detained for investigation on charges of “Violating regulations on the management and use of state assets, causing losses and waste.”

Free Land Joint Stock Company is the developer of the Long Tân Commune Residential Area project in Nhơn Trạch District (formerly), Đồng Nai Province, commercially known as King Bay. To implement the transport development plan for the Southern Key Economic Region until 2020 and vision to 2030, on September 28, 2011, the Prime Minister issued Decision No. 1697/QĐ-TTg approving the detailed planning of the HCMC Ring Road 3.

Subsequently, the Ministry of Transport issued Decision No. 2435/QĐ-BGTVT allowing the investment project for the Tân Vạn – Nhơn Trạch section and assigned the Cuu Long Corporation for Investment Development and Project Management of Transport Infrastructure to execute it. The total investment capital for the project is over 9,260 billion VND. Of this, the compensation for site clearance in Component 1A is over 624 billion VND, divided into two parts: over 475 billion VND for the Đồng Nai section and nearly 149 billion VND for the HCMC section.

To secure matching funds for the project, in 2015, the Đồng Nai Provincial People’s Committee granted a planning permit for a 125-hectare residential area in Long Tân Commune, assigning Ngu Long Tan Joint Stock Company (a joint venture between Cuu Long Corporation and another enterprise, now Free Land Joint Stock Company) as the developer.

On July 8, 2016, the Đồng Nai Provincial People’s Committee issued Decision No. 217/QĐ-UBND approving the detailed construction planning at a scale of 1:500 for the Long Tân Commune Residential Area in Nhơn Trạch District, with an area of 1,244,680.50 m², developed by Ngu Long Tan Joint Stock Company.

According to the business registration, Ngu Long Tan Joint Stock Company was established on November 6, 2014, with 7 founding shareholders. Cuu Long Corporation held 10% of the shares, and Ms. Vũ Minh Lý (the legal representative) held 50%. By the end of 2016, the company was renamed Free Land Joint Stock Company, with Ms. Lý’s share increasing to 75%. By April 2017, Cuu Long Corporation had withdrawn all its capital from the joint venture.

Is the Land Allocation Legal?

In November 2015, the Đồng Nai Provincial People’s Committee approved the investment policy and location for Ngu Long Tan Joint Stock Company. On September 6, 2018, the Đồng Nai Provincial People’s Committee issued Decision No. 3179/QĐ-UBND allocating land and leasing it (first phase) to Free Land Joint Stock Company for residential area development. This decision was signed by Vice Chairman Võ Văn Chánh.

At this point, compensation for households affected by the King Bay project’s land acquisition remained unresolved, and the project’s legal status was incomplete. Nevertheless, Free Land Joint Stock Company proceeded to sell land to customers before receiving official land allocation from the Đồng Nai Provincial People’s Committee.

In response to media inquiries, the Nhơn Trạch District People’s Committee issued Document No. 6433/UBND-CN stating that Cuu Long Corporation for Investment Development and Project Management of Transport Infrastructure (CIPM Cuu Long) was responsible for the Ring Road 3 project, including the Tân Vạn – Nhơn Trạch section. The Ministry of Transport authorized CIPM Cuu Long to mobilize legal capital for project investment.

Based on this policy, CIPM Cuu Long and Nari Hamico Mineral Company agreed to form a joint venture to implement the Tân Vạn – Nhơn Trạch section of Ring Road 3. The Đồng Nai Provincial People’s Committee issued Document No. 7766/UBND-KT on October 8, 2012, approving the province’s responsibility for site clearance costs, funded through land fund exploitation.

The Nhơn Trạch District People’s Committee asserted that Đồng Nai Province prioritized resolving investment for enterprises involved in the bridge and road project connecting HCMC to Nhơn Trạch, now part of Ring Road 3. Therefore, approving the joint venture’s development of the 125-hectare Long Tân Residential Area aligned with the province’s policy.

Due to capital constraints, on May 20, 2015, Nari Hamico Mineral Company submitted Document No. 144a/2015-CV-CT requesting withdrawal from the joint venture. Ngu Long Tan Joint Stock Company then replaced Nari Hamico Mineral Company in the project.

The Đồng Nai Provincial People’s Committee issued Document No. 9376/UBND-ĐT approving the project location for Ngu Long Tan Joint Stock Company. The project had detailed planning at a scale of 1:500 and a construction permit from the Department of Construction…

However, according to Article 62, Clause 3, Point d of the 2013 Land Law, new urban development projects, new rural residential areas, urban renovation, and rural residential areas must be approved by the Provincial People’s Council for state land reclamation.