Business owner applying to build high-speed railway accused of borrowing 30 million and then fleeing

(Dan Tri) - Discovery Group was accused of owing money to a magazine, while Chairman of the Board of Directors, Mr. Nguyen Nam Thieu, was accused of borrowing 30 million VND from each person but did not pay and is in hiding.

The Business and Integration Magazine under the Vietnam Association of Small and Medium Enterprises has just sent a document to Deputy Prime Minister Nguyen Hoa Binh , Minister of Construction Tran Hong Minh and Minister of Finance Nguyen Van Thang regarding a number of issues related to Discovery Group Joint Stock Company - the enterprise proposing to invest in the North-South high-speed railway project.

Notably, the magazine said that Discovery Group owed the magazine money and had not paid for a long time. The magazine filed a petition to open bankruptcy proceedings against the company, but then the People's Court of Region 2 - Hanoi City sent a notice "Negotiating the withdrawal of the petition to open bankruptcy proceedings" on August 25.

Also because of the above legal dispute, the magazine sent people to investigate and collect information about Discovery Group and Mr. Nguyen Nam Thieu - Chairman of the Board of Directors and General Director of the company.

Mr. Nguyen Nam Thieu, Chairman of the Board of Directors of Discovery Group (Photo: VGP/Nguyen Hoang).

The results showed that the company's office in Hanoi was often closed, with only one employee when it was open. Meanwhile, the company's branch in Ho Chi Minh City has been closed for more than a year due to non-payment of office rent, and still owes office rent.

For many years, the business generated almost no revenue, which meant no tax liability.

“Individual Nguyen Nam Thieu borrowed from each person from 30 million VND, 50 million VND... but did not pay and is avoiding debt repayment obligations to many organizations and individuals,” the content stated.

The document also mentioned the article “ Discovery - the enterprise that wants to build the North-South high-speed railway” published in Dan Tri newspaper on November 28. The content of the article included a section about not finding information about the group’s projects in the real estate sector such as Discovery Point, Discovery Angel, Discovery Riverside, Discovery Charm, Discovery Royal, Discovery Aqua, Discovery Luxury, Ha Long Discovery Tower.

According to the Business and Integration Magazine, the above content somewhat accurately describes the operating status of Discovery Group. This magazine expressed concern when an incompetent business applied to do a key national project.

Previously, at the meeting on registering for the North-South high-speed railway project, Mr. Nguyen Nam Thieu shared his desire to cooperate in investing in the project according to the capital recovery business plan.

However, when asked about the Discovery Group's human resources, investment capital and project implementation capacity, Mr. Thieu said that the group has about 70 employees and a total capital of about 2,000-3,000 billion VND, only 0.2% of the total investment of the project (67 billion USD).

Source: https://dantri.com.vn/kinh-doanh/chu-doanh-nghiep-xin-lam-duong-sat-cao-toc-bi-to-di-vay-30-trieu-xong-tron-20251206112804907.htm