Vietnam Detains Chair of Long Thanh Airport’s Key Investor

Airports Corporation of Vietnam, the main investor of the 336.63 trillion dong ($12.8 billion) Long Thanh International Airport project, said it received a notification from the police that its chairman has been detained in a corruption probe.

In addition to Chairman Vu The Phiet, police detained Deputy General Director Nguyen Tien Viet in its investigation into alleged violations of regulations on bidding and receiving money from contractors, the company said in a disclosure posted on the website of the Hanoi Stock Exchange. The statement cited a Wednesday notification from the Investigation Police Agency of the Ministry of Public Security.