In April 2025, Phuc Son Group Joint Stock Company (Phuc Son Group) sent a letter to investors contributing capital to buy land at the Nha Trang Urban - Trade - Service - Finance - Tourism Center Project (old Nha Trang Airport).
The letter to customers was signed by Mr. Hoang Quang Hung - Deputy General Director of Phuc Son Group.
Investor's contract is still valid
In the letter to customers, Phuc Son Group informed about the prosecution of Mr. Nguyen Van Hau - former Chairman of the Board of Directors, General Director - under the 2015 Penal Code.
Regarding this, Phuc Son Group said that according to the provisions of the law, when the head of a business violates the law, he must bear criminal responsibility. This is a criminal liability for that individual.
In addition, the enterprise has a representative under the new law, basically stabilizing the organizational structure.
At the same time, businesses continue to find solutions to remove difficulties and coordinate with relevant local authorities to implement unfinished and unfinished projects.
Phuc Son Group added that the capital contribution contract between customers and Phuc Son Group is still valid.
When Mr. Nguyen Van Hau is no longer a representative of Phuc Son Group, the enterprise will continue to operate in accordance with legal regulations.
Regarding the progress of the Nha Trang Urban - Trade - Service - Finance - Tourism Center Project, Phuc Son Group said that it had completed the construction of the project's technical infrastructure in 2019.
If the legalization is completed, the land will be handed over within 6 months
Phuc Son Group has allocated 1,112 lots on an area of 9.2 hectares (out of a total area of 24.08 hectares) in the old Nha Trang Airport urban area project. Of which, 958 lots have cooperated with investors, the remaining 154 lots.
The total amount that customers have paid to date is 7,000 billion VND, the remaining 3,000 billion VND has not been paid.
One of the issues that investors are interested in is the handover of land in which they have contributed capital. Regarding this, Phuc Son Group committed to handing over land with full legal documents, within 6 months.
The 6 -month term is calculated from the time the State determines the land price and issues the notice of land use levy collection (except for the value of BT projects) and the written permission of the transfer of the competent state agency.
Of the 3 BT (build - transfer) projects in Nha Trang, Phuc Son Group only made a specific commitment to the Ngoc Hoi Intersection project.
Accordingly, the expected time to complete the land acquisition and site reception on site is December 31, 2025.
Difficulties in investment procedures, land allocation, land lease
According to the report of the competent authorities of Khanh Hoa province, for the Nha Trang Urban - Trade - Service - Finance - Tourism Center Project, the investor has not yet implemented the acceptance work. Not yet issued a certificate of land use rights and housing for families and individuals.
This project is still stuck in procedures for investment, land allocation, and land lease. These bottlenecks were concluded by the Central Inspection Committee in Notice No. 680.
Resolving these bottlenecks is difficult for localities to resolve, and the authority belongs to the Prime Minister.
Meanwhile, nearly 1,000 customers contributed capital to buy land at the old Nha Trang Airport project, hoping that the authorities would resolve the problem and soon issue a "red book".
