The project has not yet increased its capital by thousands of billions
The National Telecommunication Trading and Operation Center project, invested by Vietnam domestic and export processing group (VNPT), was planned to be implemented in 2010. The project is located on lot A3, Cau Giay new urban area, Dich Vong Hau ward, Cau Giay district, Hanoi, and is expected to play a central role in the management and operation of the national telecommunications network.
However, according to a survey by Lao Dong Newspaper reporters in April and May 2025, this land is still an empty lot fenced with corrugated iron. Observation from above shows overgrown weeds, inside there are many scraps such as old rubber tires, household waste, there is no sign that the construction site is under construction.
Despite the reality, the total investment of the project has increased significantly compared to last year.
According to VNPT's general target report and 2024 business plan, the project at lot A3 is in the list of unfinished group A projects, and will be transferred to 2024 for continued implementation, with a total investment (including VAT) of more than VND 2,796 billion.
However, in the general target report and business plan for 2025, VNPT said that there is only one group A project that has been transferred, which is the above project, and the total investment has been adjusted to more than VND 4,213 billion. Thus, compared to 2024, the total investment capital of the project announced in 2025 increased by more than 1,417 billion VND.
Not only increasing capital, the disbursement progress of the project also has a notable adjustment in VNPT's own reports.
At the report on evaluation of the results of the implementation of the production and business plan in 2022 (signed on June 29, 2023), the total value of the project was recorded as VND 94 billion. However, in the report in 2023 (signed on 24.6.2024) after 1 year, the value of the implementation decreased to 68 billion dong - ie by 26 billion dong compared to the previous year's report.
What does VNPT say?
Regarding the total investment of the project and the disbursement process, VNPT representative said that the unit will check and inform Lao Dong Newspaper.
Regarding the project's slow implementation, VNPT responded as follows:
In November 2019, the Hanoi Department of Natural Resources and Environment (now the Department of Agriculture and Environment) handed over the entire land plot of Lot A3, Cau Giay New Urban Area, Dich Vong Hau Ward, Cau Giay District, Hanoi to VNPT Group for management and use according to the land lease decision of the Hanoi People's Committee since 2014.
After receiving the site handover, VNPT Group has implemented related investment procedures. However, the old project is no longer in accordance with fire prevention and fighting standards and current construction law regulations, so it is necessary to update planning information on both sides of Pham Hung Street (approved in September 2016), request to reissue specialized agreements to establish an adjustment project and submit for appraisal the design of the adjustment facility.
From July 2020 to December 2020, VNPT Group still focuses on handling and clarifying some requirements of the Department of Planning and Construction Planning such as: Clarifying the number of basements of the project, consulting the Department of Planning and Architecture of Hanoi on the contents of adjusting the architectural plan of works; Report to the City People's Committee for consideration and permission to adjust the local planning according to the guidance of the Department of Planning and Architecture.
However, due to the impact of the COVID-19 epidemic from the end of 2019 to the end of 2020, access and work with relevant departments and units is very limited, affecting the progress of project implementation.
Along with that, the provisions of the law on construction have changed, while the project belongs to group A, has a large scale and complexity, so VNPT Group has had to carry out related procedures according to regulations to report to competent authorities to continue implementing the project.
On October 13, 2021, the City People's Committee signed Decision No. 4438/QD-UBND to extend the time to put the land into use for the project by 24 months (until October 2023). During the extension period for land use, VNPT Group has requested to adjust the investment policy. Up to now, VNPT Group is still waiting for the Hanoi People's Committee.
Thus, according to the decision of the Hanoi People's Committee, the above project has been decided to extend the land allocation until October 2023. By May. In 2025, the project has not yet put the land into use.
Reporters of Lao Dong Newspaper have contacted the leaders of the Hanoi Department of Agriculture and Environment about whether VNPT's project will be revoked under Clause 8, Article 81 of the 2024 Land Law or not?
Regarding the issue of project adjustment (term, scale, investment capital, etc.), the reporter contacted the leaders of the Hanoi Department of Finance.
On May 5, leaders of these departments said they would check and respond to Lao Dong Newspaper.
Clause 8, Article 81 of the 2024 Land Law stipulates the following cases of land recovery due to violations of land laws:
Land allocated, leased, permitted by the State to change the purpose of use, recognize land use rights, receive land use rights transfer to implement an investment project without being used for 12 consecutive months from the date of receipt of land handover on site or the land use progress is 24 months behind the progress recorded in the investment project.
In case of not putting land into use or slow down the land use schedule compared to the schedule stated in the investment project, the investor may extend the shelf life not exceeding 24 months and must pay additional money to the State with the amount of money corresponding to the land use fee and land rent for the extended time.
At the end of the extension, the investor has not yet put the land into use, the State recovers land without compensation for land and property attached to the land and the cost of investment in the remaining land.
Here are some photos of Lao Dong Newspaper reporters recording the current status of VNPT's project:
