Recently, the Khanh Hoa Provincial Inspectorate released its inspection findings on investment projects facing difficulties, delays, and low efficiency across the province (Inspection Team No. 01).
Among the projects highlighted in the report is the North Cam Ranh Peninsula Tourism and Service Complex, developed by Hoan Cau Cam Ranh Co., Ltd.
The inspection concluded that the Khanh Hoa People’s Committee’s selection of the investor without a bidding process violated Article 54 of the 2005 Investment Law and Circular No. 03/2009/TT-BKH dated April 16, 2009, issued by the Ministry of Planning and Investment.
Source: Khanh Hoa Provincial Inspectorate
Additionally, the Department of Planning and Investment’s failure to assess the financial capacity of the new investor, Hoan Cau Cam Ranh, before adjusting the Investment Registration Certificate, contravened Article 58.3 of the 2013 Land Law, Article 14.2 of Decree 43/2014/NĐ-CP dated May 15, 2014, and Article 52 of Decree 108/2006/NĐ-CP dated June 22, 2006, issued by the Government.
Furthermore, the Department of Natural Resources and Environment’s issuance of a land use rights certificate to the investor, which included “residential land not forming residential units,” was inconsistent with land legislation.
The project has also faced delays in investment and construction procedures. Despite receiving its initial Investment Registration Certificate on September 21, 2011, and the Investment Policy Approval on July 5, 2017, the investor has yet to submit construction drawings for approval and a building permit from the Department of Construction.
The investor’s construction activities have not fully aligned with the approved 1/500 detailed plan under Decision No. 3495/QĐ-UBND dated December 18, 2014. However, upon reviewing the 1/2000 zoning plan (for the coastal urban area and new Cam Lam urban area, Khanh Hoa Province), approved under Decision No. 2222/QĐ-UBND on August 26, 2024, the constructed components are found to be largely compliant.
Lastly, the North Cam Ranh Peninsula Tourism and Service Complex project has experienced construction delays.
In its findings, the Khanh Hoa Provincial Inspectorate proposed solutions to address the project’s challenges. Specifically, it recommended that the Khanh Hoa People’s Committee urge the Steering Committee 751 and the Prime Minister to seek approval from competent authorities to apply special mechanisms similar to those outlined in Resolution No. 170/2024/QH15. This would facilitate the continued use of land and the determination of land prices to ensure full payment of the project’s financial obligations to the state budget, preventing any loss of public funds.
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Hoan Cau Cam Ranh Co., Ltd., established on December 31, 2013, primarily engages in residential construction.
Its headquarters are located on Nguyen Tat Thanh Avenue, Zone 6, North Cam Ranh Peninsula Tourism Area, Cam Lam Commune, Khanh Hoa Province.
Prior to December 3, 2014, the company’s charter capital stood at VND 200 billion, contributed by two shareholders.
Subsequently, the shareholder structure changed. The original shareholders were replaced by two new ones: Ms. Truong Vu Hoa Mi and Mr. Tran Huu Loc, holding 30% and 70% of the company’s charter capital, respectively.
According to the business registration change announcement on July 29, 2016, Ms. Truong Vu Hoa Mi ceased to be a shareholder, and Mr. Do Thanh Hiep became a new shareholder with a 30% stake.
As of the latest update on July 15, 2025, Mr. Do Thanh Hiep serves as both the Director and Legal Representative of Hoan Cau Cam Ranh.
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