On December 31, 2025, the Hanoi People’s Committee issued a notice to reclaim 1,347 square meters of land at 125 Van Cao, Ngoc Ha Ward (formerly Lieu Giai Ward, Ba Dinh District) from the Vietnam Economic and Technical Development Joint Stock Company (Detesco Vietnam).
The reason for the reclamation is that Detesco Vietnam, despite managing and using the land, has failed to fulfill its financial obligations to the state, falling under the provisions for land reclamation.
Detesco Vietnam, as the entity with related rights and obligations, is responsible for handling assets on the land within 45 days of receiving the reclamation notice.
The Department of Agriculture and Environment is tasked with coordinating with the Ngoc Ha Ward People’s Committee to inspect, supervise, and ensure compliance with the regulations.
The land is located along one of the widest and most open roads in the former Ba Dinh District. Image: Google Maps
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Established in 1993 in Hanoi, Detesco Vietnam primarily focuses on labor supply and management. As of September 2014, the company had a charter capital of VND 53 billion, with the state holding 99.4%. Mr. Nguyen Hong Minh served as Chairman of the Board and legal representative.
In 2020, the Ho Chi Minh Communist Youth Union auctioned nearly 5.27 million shares of Detesco Vietnam (par value VND 10,000 per share), equivalent to VND 52.7 billion (99.4% of the company’s contributed charter capital). The starting auction price was VND 10,800 per share.
Since then, the position of Chairman and legal representative has been held by several individuals, including Mr. Pham Hai Trung, Ms. Nguyen Thi Hong Cuc, and currently Mr. Le Quang Hung.
Detesco Vietnam was granted a 2,777 square meter plot at 125 Van Cao, Lieu Giai Ward, Ba Dinh District, Hanoi (now Ngoc Ha Ward), under Decision 2818/QD-UB dated July 9, 1999, and Land Lease Contract No. 21-99/DCND-HDTDTN dated August 16, 1999. The land use term was 20 years, starting from 1996.
Recognizing the potential for a commercial and office leasing center, on July 15, 2008, Detesco Vietnam contributed fixed assets on the land to establish Thanh Nien – Detesco Tower Joint Stock Company, holding 30% of the charter capital (VND 24 billion). Thanh Nien Media Corporation held 65%, and Thanh Nien Newspaper held 5%.
The project, named Thanh Nien Plaza, had a total investment of VND 250 billion. Upon completion in 2011, it was planned to include 12,000 square meters of office space, 3,000 square meters of commercial space, and 2,000 square meters of parking. However, the site remains fenced and is currently used as a parking lot.
 The project site at 125 Van Cao, Ngoc Ha Ward, as seen in late 2023. Image: Google Maps
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– 08:41 07/01/2026
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