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The legacy of VietinBank Tower 10,000 billion of the previous President of Vietibank

March 22, 2022


The Vietinbank Tower headquarters constructing mission in Ciputra with a complete funding of greater than VND 10,000 billion was concluded by the Government Inspector to have violations.

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He presented the Headquarters Building - Commercial and Financial Center of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank Tower) in Ciputra urban area, Tay Ho district, Hanoi for many years.

He offered the Headquarters Building – Commercial and Financial Center of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank Tower) in Ciputra city space, Tay Ho district, Hanoi for a few years.

Expected to be an emblem of the banking business, the VietinBank Tower headquarters constructing mission was began in 2010, constructed on a land space of ​​practically 3 hectares together with two towers of 48 and 68 flooring situated in a primary location. The most distinguished location in Hanoi is Ciputra city space.

The mission has a complete funding of 10,267 billion VND, designed with two towers VietinBank Tower. The first 68-storey tower, designed to maximise vitality consumption, would be the predominant workplace of VietinBank. The second tower with 48 flooring would be the place to position a 5-star resort, healthcare space, and luxurious residences for lease. The higher flooring of every tower are organized diagonally to kind V-shaped corners, the emblem of VietinBank.

However, after a few years of implementation, the mission remains to be lined with mats and stopped for a few years. Reporters’ information present that at current, this trillion-dollar development web site has no staff or equipment in operation. Rusted iron poles, stained concrete columns due to many years of publicity to wind and dew.

Mr. Nguyen Van Thang, currently Secretary of the Provincial Party Committee of Dien Bien for the term 2020 - 2025

Mr. Nguyen Van Thang, presently Secretary of the Provincial Party Committee of Dien Bien for the time period 2020 – 2025

It is thought that this mission has been applied since Mr. Nguyen Van Thang was nonetheless the General Director of Vietinbank, then the Chairman of the Board of Directors of Vietibank. However, till Mr. Thang left, the tremendous mission remained immobile.

Regarding this mission, the Government Inspector additionally beforehand made inspection conclusions, stating many errors made by Vietinbank leaders in the course of the implementation of the VietinBank Tower mission.

Accordingly, the inspection conclusion confirmed that the funding and lease of land in Ciputra was not in accordance with Vietibank’s authority, which violated the Law on Construction, Decree No. 16 of the Government on administration of development funding tasks. wasted funding cash paid from 2008-2010 to be handed over land.

The Government Inspectorate recommends the Prime Minister to evaluation and manage the evaluation of duties for the efficiency of the state administration perform and proprietor’s rights; group to evaluation the duties of the Board of Directors, particularly within the funding and lease of land in Ciputra. Coordinate with related authorities to watch and supervise the development funding of Vietinbank’s headquarters constructing in Ciputra.

In addition to the ten,000 billion VND mission stalled at Ciputra, Mr. Nguyen Van Thang can also be mentioned to be chargeable for lending Tisco 1,900 billion VND to serve the Thai Nguyen Iron and Steel Production Expansion Project Phase 2 (Tisco 2) . Regarding Tisco 2, many mission leaders have additionally been prosecuted and tried.

In 2015, the Government Inspectorate additionally found a lot of instances with indicators of prison exercise at Vietibank, so it transferred the recordsdata of 6 instances to investigative companies to deal with fraudulent acts of appropriating property. violating laws on lending within the operation of credit score establishments.

Mr. Nguyen Van Thang held the place of General Director of Vietinbank from 2011, till April 2014, he was elected to carry the place of Chairman of Vietibank’s Board of Directors and resigned from this place in July 2018.



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