Bui Chan Phuong, the former Chairman of the Board of Directors of Viet My Company, was arrested on July 25, 2026, alongside two associates, for their involvement in smuggling and serious violations of accounting regulations. The Ministry of Public Security announced that the Investigation Police Department for Corruption, Economy, and Smuggling (C03) has launched a case against the company.

The arrested individuals include Bui Chan Phuong, the former chairman; Ha Van Nam, the director of Viet My Company; and Tran Thi Hong Hanh, who was responsible for accounting at the company. C03 has determined that Phuong established and managed three companies in Vietnam, including Viet My Company, Sao Kim Medical Investment Company, and Hoang Mai Pharmaceutical Joint Stock Company. Additionally, he set up five companies in Singapore and three in Hong Kong to facilitate the buying, selling, and price inflation of medical equipment and pharmaceuticals before importing them to Vietnam at exorbitant prices, resulting in significant illegal profits and serious impacts on public health.

Moreover, during the importation of medical equipment into Vietnam, Phuong exploited import licenses issued by the Ministry of Health to falsely declare additional medical equipment, leading to further smuggling activities. C03 is currently focusing on expanding the investigation to clarify the violations of the arrested individuals and related parties within the companies managed by Phuong, as well as relevant government agencies, to propose legal actions accordingly.

The Ministry of Public Security has noted that the practices of price manipulation and tax evasion have become increasingly complex, not only occurring in foreign-invested enterprises but also within Vietnamese companies through the establishment of foreign entities. Such actions have caused significant losses to the national budget, distorted the competitive environment, and hindered sustainable economic development.

In response to this situation, C03 has concentrated on gathering intelligence and verification. Initial results have identified signs of price manipulation and tax evasion among several Vietnamese companies in the medical equipment and pharmaceutical import sectors, which not only lead to substantial budget losses but also increase healthcare costs and severely affect patient rights.