Son Hai Corporation Speaks Out
On the morning of November 4th, Son Hai Corporation issued a statement following the Quang Tri Provincial Inspectorate’s report on violations in the VND 500 billion project. According to the company, the project in question is the Commercial Housing Area in the Southwest of Ly Thanh Tong Street, spanning from F325 Road to Truong Phuc Phan Road in Quang Tri Province.
The corporation clarified that this is a provincial project, and Son Hai is merely an investor, not the sole owner of the project as some media outlets have reported.
The inspection findings revealed that Son Hai overpaid by VND 10.1 million, not VND 10 billion. The company explained that, lacking the authority to audit the finances of the former Dong Hoi Land Fund Development Center, they were unaware of the surplus payment of VND 10.1 million.
Son Hai Corporation was selected as the investor through a bidding process. All procedures prior to the bidding were the responsibility of the competent state authorities, not Son Hai, and were approved by the Provincial People’s Council before the bidding (supporting documents provided).
Supporting documents provided by Son Hai Corporation.
Land clearance and compensation for the project were handled by the former Dong Hoi Land Fund Development Center. The process has been ongoing, and land clearance compensation is yet to be fully completed.
According to the corporation, each payment for land clearance compensation was made based on requests from the former Dong Hoi Land Fund Development Center. Son Hai has consistently transferred funds promptly, in full, and in accordance with the requested amounts.
Conclusion of Quang Tri Provincial Inspectorate
Previously, the Quang Tri Provincial Inspectorate issued a report on the compliance with investment, construction, land, and financial regulations in the Commercial Housing Area project in the Southwest of Ly Thanh Tong Street (from F325 Road to Truong Phuc Phan Road, former Dong Hoi City, now Dong Thuan Ward).
The project, with a total investment of VND 500 billion, is led by Son Hai Corporation and spans from 2017 to 2025. Its goal is to develop a modern residential area with complete urban infrastructure.
Commercial Housing Area in the Southwest of Ly Thanh Tong Street, Quang Tri. Photo: Bao NLĐ
The inspection found that the former Quang Binh Department of Construction advised the Provincial People’s Committee to approve the investment policy without prior approval from the Provincial People’s Council, violating Decree 99/2015 guiding the Housing Law. The Inspectorate concluded that the former Quang Binh Department of Construction is directly responsible for this violation.
In land clearance and compensation, the Inspectorate discovered that Son Hai Corporation and the former Dong Hoi Land Fund Development Center failed to verify expenses, resulting in an overpayment of VND 10.1 million by the investor.
Both entities share responsibility, with the Project Management Board for Investment Construction and Land Fund Development of Dong Hoi City (the successor unit) required to return the excess amount to the state budget through the Inspectorate’s temporary account.
The Inspectorate also directed the Quang Tri Department of Construction to urge Son Hai Corporation to ensure project progress, fulfill financial obligations to the state budget, and complete all approved infrastructure components.
Ho Chi Minh City People’s Committee: No Further Delays Allowed for Luong Dinh Cua Road Project!
Ho Chi Minh City has mandated its departments and agencies to urgently resolve land clearance issues and finalize legal procedures to expedite the long-delayed upgrade of Luong Dinh Cua Street, which has been stalled for nearly a decade.
Chairman of Son Hai Corporation: The happiness of entrepreneurs is having no tax debts, salary debts, insurance debts, and overdue bank debts
Businesses have their tough times, but we can’t let our comrades go unpaid. Why do many other businesses want to take advantage of capital to make profits for themselves, but Sơn Hải is not like that!” asserted the owner of Sơn Hải Corporation.
Which bank is providing funding for Son Hai Corporation to give bonuses of over 300 million VND per year to truck and excavator drivers?
With warranty commitments of up to 10 years and fast construction progress, it raises the question: How solid is Sơn Hải Group’s financial backing?!
Special Features at High-Speed Tunnel Using World-leading Modern Technology Constructed by Son Hai Corporation
This high-speed tunnel was constructed by Son Hai Corporation. It is also the only tunnel in Vietnam that is fully paved with concrete asphalt.
