Viet Nga Company Limited is the investor of the Viet Nga resort project, with an area of ​​over 7.2 hectares in Ben Dam, Con Dao district, Ba Ria - Vung Tau province.

The debt of Viet Nga Company Limited is estimated to be over 375 billion VND as of July 31, 2024 (principal debt is nearly 184 billion VND). The debt was formed according to 3 credit contracts signed in 2011, 2013 and 2015.

Previously, Agribank Saigon Center Branch filed a lawsuit against Viet Nga Company Limited at District 1 People's Court, Ho Chi Minh City. The debt has now been converted to bad debt due to the borrower's violation of repayment obligations.

The assets securing the company's debt at Agribank include: future assets, which are the entire construction works and machinery and equipment of the Viet Nga resort; future assets attached to land plots with areas of 51,420.3m2 and 20,993.9m2 in Ben Dam, Con Dao district, Ba Ria - Vung Tau province. This is land for production and business facilities, with a term of use until 2057.

The second asset is an 85.5m2 apartment at 326/1 Ung Van Khiem, Ward 25, Binh Thanh District, HCMC.

The third asset includes the capital contributions of individuals in Viet Nga Company Limited, including: capital contribution of 1,835 billion VND of Mr. Nguyen Minh Nghia; capital contribution of 18,356 billion VND of Mr. Pham Phong Vu; and capital contribution of 7,342 billion VND of Mr. Le Minh Duc.

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The Viet Nga tourist area project in Con Dao has now been renamed Orson Hotel & Resort Con Dao. Photo: Orson Hotel & Resort Con Dao

The starting price of the debt is VND199,533 billion. This price has decreased sharply compared to the starting price first announced in May 2024 of VND370.5 billion.

Viet Nga Company Limited was established in 2007, headquartered in Con Dao town, Con Dao district, Ba Ria - Vung Tau province. The company has a charter capital of 91.78 billion VND, with Mr. Nguyen Van Hoa as director.

This enterprise is the investor of the Viet Nga resort, with a total investment of 800 billion VND. After completion, the resort will have about 125 rooms, the smallest area is 35m2 and the largest is 135m2.

The project started construction in late 2011 and completed the rough construction in 2014. However, at that time, due to an incident involving the company's senior leadership, the project was suspended.

By 2022, the new project will officially come into operation with the new commercial name Orson Hotel & Resort Con Dao.