ACV Chairman Vu The Phiet was arrested, what is the future for the Long Thanh super project?

Once powerful "stars" operating dozens of large and small airports, the career of Mr. Vu The Phiet and his colleagues at ACV has just encountered an unforeseen "fall" right in the heart of the Long Thanh super-dinosaur project.

Recently, the "velvet curtain" at the Airports Authority of Vietnam (ACV) has officially closed according to a scenario that no one expected. On March 5, ACV made an unusual announcement, confirming that the Ministry of Public Security had executed a temporary detention warrant for Mr. Vu The Phiet - Chairman of the Board of Directors and Mr. Nguyen Tien Viet - Deputy General Director in charge of the Executive Board.

Wrong "scenarios": From project bidding to "black" money

No longer the promises of fast progress or the art of the project, the reason why these "big bosses" were detained is directly related to the violations of bidding regulations that have particularly serious consequences.

According to revelations from ACV, Mr. Phiet not only made mistakes in the process but was also accused of receiving money to "roll out the red carpet" for the winning contractors. Sharing the same fate is Mr. Nguyen Tien Viet, who plays an important role when concurrently serving as Director of the Project Management Board of Long Thanh International Airport - a "blockbuster" project of the transport industry with a total investment of up to 336,630 billion VND.

Portrait of the "male protagonist" and the journey to leave the glory

Mr. Vu The Phiet (53 years old) is considered an "elder" in the aviation world with a career journey spanning nearly 3 decades. 1995: Started to enter the industry. 8/2018: Became General Director of ACV after working as Director of Noi Bai Airport. 9/2024: Officially sat in the chair of the Board of Directors and Secretary of the Party Committee.

When taking office, Mr. Phiet once "caused a fever" with strong commitments to bring the Long Thanh super project and Tan Son Nhat T3 terminal to the finish line on time, quality and in accordance with the law. However, the reality took place like a movie full of twists when the authorities began to appear at ACV's headquarters at 58 Truong Son at the end of January to clarify the twists and turns.

The "flash" personnel change behind the scenes

Before the news of the arrest was widely announced, ACV made moves to "change the blood" of personnel extremely quickly to ensure that the apparatus was not paralyzed:

February 2: Mr. Nguyen Duc Hung (Deputy General Director) was assigned to be in charge of the executive board. Ms. Pham Thi Phuong was also appointed as Head of Accounting Department, in charge of Chief Accountant.

Latest: Mr. Le Van Kien has officially become the legal representative of ACV, completely replacing the position of Mr. Vu The Phiet to run this "ship" of 35,828 billion VND.

What is the future for the "super project" Long Thanh?

Currently, despite the fact that key leaders are entangled in a legal loop, the Long Thanh International Airport project is still the focus of public attention. With an area of 5,000 hectares and the expectation of commercial operation from June this year, the "change of general in the middle of the line" makes investors worried.

In addition, ACV's "delay" in announcing its financial statements for the 4th quarter of last year (overdue from the end of January 2026) also made the financial picture of this "tycoon" managing 23 airports more blurry in the eyes of shareholders on the UPCoM exchange.

Although the Ministry of Public Security has not announced the details of specific procedural measures, the announcement of confirmation from ACV itself has been a strong blow to the reputation of the former heads of the state-owned enterprises holding this aviation lifeline.

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