On October 31, the Government Inspectorate (TTCP) announced the inspection findings regarding a project facing challenges at the Ministry of Foreign Affairs (MOFA) headquarters. Located on Le Quang Dao Street in Hanoi, the project has encountered significant delays.
Ministry of Foreign Affairs headquarters project. Photo: Huu Hung
The inspection agency has referred five cases related to the project to the Ministry of Public Security for further investigation and handling. Additionally, TTCP highlighted that the project’s prolonged suspension, spanning over a decade, has resulted in the wastage of over VND 4 trillion in state funds.
Regarding the challenges and proposed solutions, TTCP noted that in Report No. 4859/BC-BNG dated July 31, 2025, MOFA recommended halting the investment policy and addressing pending issues such as inventory management, contract termination, and settlement of public investment capital. This includes valuing the assets formed post-investment for transfer to the Vietnam National Oil and Gas Group (PVN).
MOFA also proposed reactivating the Prime Minister’s Task Force to review the transfer of the project to PVN. Furthermore, they suggested allowing MOFA to explore and submit a plan for constructing a new headquarters at a suitable location.
However, TTCP pointed out that during the project’s initial planning, MOFA identified specific special components and later requested an increase in the total investment, adding the Archival Center as another special component.
The adjusted investment from VND 3.484 trillion to VND 6.988 trillion included additional costs of VND 1.584 trillion due to the project’s unique nature, though no supporting documentation was provided. The project also faces several unresolved issues, as outlined in the inspection report, necessitating an audit to accurately determine the estimated value, total budget, and investment basis for continuation.
Transferring the MOFA headquarters project to other state agencies or organizations must consider these factors to prevent budget losses or wastage.
Additionally, the Inspector General recommended that the Prime Minister direct the Minister of Foreign Affairs to conduct a review and hold accountable individuals and groups responsible for the shortcomings and violations identified in the report.
This includes reviewing and addressing the responsibilities of the project management board, the Administration and Finance Department, and their leaders (across different periods) involved in the identified deficiencies.
The inspection agency also recommended that the State Audit Office audit the project’s total investment estimate to provide a basis for its continuation and settlement. TTCP has forwarded the findings to the Central Inspection Commission for further action within its jurisdiction.
Transfer of Diplomatic Headquarters Project Files to the Ministry of Public Security and the Central Inspection Commission
Uncovering numerous violations in the construction of the Ministry of Foreign Affairs headquarters, the Government Inspectorate has forwarded case files and evidence of potential criminal offenses to the Ministry of Public Security. Additionally, the inspection findings have been submitted to the Central Inspection Commission for review and appropriate action within their jurisdiction.
Vietcap: Past Violations Acknowledged in Inspection Conclusion, Expected to Have No Significant Further Impact on Novaland, Masan
Novaland reaffirms its commitment to ongoing collaboration with regulatory authorities to address any emerging requirements following the inspection conclusion, as stated by Vietcap.
Mrs. Bùi Thị Thúy Thúy Seeks to Offload Over 17 Million Novaland Shares Following Two Consecutive Limit-Down Sessions
Currently, Mrs. Suong holds nearly 50.5 million NVL shares. If the transaction is successful, her ownership stake in Novaland will decrease to 1.6%, equivalent to over 33.2 million shares.
Cash Flow Monitoring: Revitalizing the Bond Market
The bond market thrives only when trust, knowledge, and discipline converge. When businesses treat transparency as a cornerstone, investors wield understanding as their greatest asset, and regulators harness data as a precision oversight tool, we create a market that is both secure and dynamic—one that fuels sustainable economic growth.
Novaland Shares in Turmoil as Government Inspectorate Hands Bond Violation Case to Police
At one point during the morning session, the sell orders for NVL stocks at the floor price reached a staggering 7 million units.
