On 22/8, Can Tho City Police concluded their investigation into Dang Minh Thua (Chairman of CIPCO), Tran Van Phuc (General Director), Truong Van Tien (Chief Accountant), and Tran Ngoc Trung (Deputy Head of Business Planning). The case file has been transferred to the People's Procuracy, recommending prosecution for abuse of power and bribery.

CIPCO, a subsidiary of the State Capital Investment Corporation (SCIC), manages Tra Noc 1 and 2 industrial parks, spanning nearly 300 hectares along the Hau River. These parks host nearly 200 projects from over 100 companies, with registered capital exceeding 1.1 billion USD, representing over 60% of the total registered capital in Can Tho's seven industrial parks.

Dang Minh Thua before his arrest. Photo provided by the police

Dang Minh Thua before his arrest. Photo provided by the police

The investigation revealed that in early 2024, Song Trang Seafood Co. Ltd. transferred its factory in Tra Noc 2 Industrial Park to Van Vinh Seafood Co. Ltd. Van Vinh then contacted CIPCO to renegotiate the land lease.

During negotiations, Tran Ngoc Trung, representing CIPCO, initially quoted 4 USD per square meter annually. He later informed Van Vinh that CIPCO's leadership demanded an additional 1 USD per square meter per year under the table for the first two years, totaling 942 million VND, while the official contract would state 3 USD. Despite Van Vinh and Song Trang's attempts to negotiate down to 500 million VND, CIPCO refused. The companies subsequently transferred the full amount through intermediary accounts.

Truong Van Tien admitted to directing the illicit collection. Of the total, 550 million VND was returned to CIPCO's accounting department, 242 million VND went to Tien's personal account (of which he kept 92 million VND), and the remaining 150 million VND was transferred to another employee to create false records.

Trung confessed to acting under Tien's instructions and reporting to Phuc. Tien also confirmed directing the scheme and reporting to Phuc, who admitted to approving the plan for "expenses that couldn't be invoiced."

Investigators found Phuc, Tien, and Trung guilty of abuse of power. Phuc and Tien have paid back 300 million VND and 642 million VND, respectively.

Further investigation revealed that CIPCO executives used the extorted funds and other advances to bribe Can Tho City officials to gain access to the Co Do-Thoi Lai Industrial Park project.

In 2023, SCIC approved CIPCO to explore the Co Do-Thoi Lai project. However, the city granted research rights to another company. To regain access, Thua and Phuc offered gifts and money to city officials.

On 26/3/2024, the city officially allowed CIPCO to research the project.

The implicated officials, however, denied accepting bribes, claiming the money was a "Tet gift" and returned sums between 5,000 and 20,000 USD. The investigation into bribery is ongoing due to insufficient evidence.

Investigators highlighted that government agencies should facilitate project exploration in accordance with the Prime Minister's authority. The city's premature approval for CIPCO created an environment conducive to corruption. Can Tho City Police recommended a review of the approval process to ensure legality and prevent future issues.

In September 2024, Phuc, along with the head and deputy head of CIPCO's business department, were arrested for illicitly collecting funds. In 3/2025, Thua was arrested for bribery.

In April, the Central Inspection Committee found Nguyen Van Hieu and Tran Viet Truong (former Secretary and Chairman of Can Tho City People's Committee) responsible for serious violations that damaged the Party and government's reputation. Truong and Pham Ngoc Nghi received warnings, while Hieu was removed from the 13th Central Committee.

Hung Loi