Long Thanh Airport Contractors Misuse Advance Payments for Interest
Eight contractors involved in the Long Thanh Airport project have reportedly misused 936 billion VND in

The Vietur joint venture, which includes Turkish firm IC Ictas, has been identified in a series of violations related to the Long Thanh Airport project. This comes after the joint venture won the largest contract for the construction of the passenger terminal, valued at over 27.8 trillion VND (approximately 1.2 billion USD). The Government Inspectorate has concluded that there were significant breaches in bidding processes, contract management, and the use of advance payments.
According to the Inspectorate's report, the Vietur joint venture improperly submitted bids in foreign currency, specifically USD, without proper authorization. Despite this, the bidding authority proceeded to sign the contract based on the submitted documents, which is against regulations. The Inspectorate found that 9 out of 10 main contractors within the Vietur consortium had transferred portions of their work to other contractors without approval, totaling approximately 1.65 trillion VND, violating the Law on Bidding.
The Long Thanh Airport project, overseen by the Airports Corporation of Vietnam (ACV), comprises several construction packages, with 16 main packages in total. As of now, three packages have been completed, while 13 are still under construction. The Inspectorate has specifically reviewed two key packages, including the one for the passenger terminal, which is crucial for the project's overall timeline.
In addition to the bidding irregularities, the Inspectorate reported that contractors had misused advance payment funds, amounting to over 936 billion VND, by placing them in fixed-term savings accounts, generating unauthorized interest. Furthermore, discrepancies were noted in the timing of tax declarations and invoices related to the project.
As of July 2023, the passenger terminal construction package remains one of the most critical components for the timely completion of Long Thanh Airport. The project is expected to significantly enhance Vietnam's aviation capacity upon its completion. However, ongoing disputes regarding payment methods and currency usage have raised concerns about potential delays and financial losses for the ACV.
The Inspectorate has referred the case to the Ministry of Public Security for further investigation into the violations committed by the Vietur joint venture and the ACV. This situation follows a contentious bidding process that saw the Vietur consortium selected over another competitor, Hoa Lu, which has since contested the decision.