Rang Dong Group Joint Stock Company's urban project in Phan Thiet coastal was approved for unlawful land use conversion, resulting in over VND 308 billion in State budget losses

On October 31, 2024, the Ministry of Public Security concluded the investigation into the case of "violations of regulations on management and use of state assets causing loss and waste" at the Phan Thiet Coastal Tourism Urban Area, developed by Rang Dong Group Joint Stock Company. The investigation found that the company was permitted to convert land use from commercial service land to urban residential land at a rate of nearly VND 2.6 million per square meter, contrary to legal regulations, causing a loss of over VND 308 billion to the state budget.

On October 31, 2024, the Ministry of Public Security concluded the investigation into the case of "violations of regulations on management and use of state assets causing loss and waste" at the Phan Thiet Coastal Tourism Urban Area, developed by Rang Dong Group Joint Stock Company. The investigation found that the company was permitted to convert land use from commercial service land to urban residential land at a rate of nearly VND 2.6 million per square meter, contrary to legal regulations, causing a loss of over VND 308 billion to the state budget.

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