Trung Nam Group chairman banned from leaving Vietnam for $840K tax debt

By Phuong Dung May 23, 2024 | 06:23 pm PT

Trung Nam Group’s Trung Nam wind power plant in central Ninh Thuan province. Photo courtesy of Trung Nam Group.

Nguyen Tam Thinh, chairman of Trung Nam Group, has been prohibited from leaving Vietnam because his company owes more than VND21 billion (US$840,000) in unpaid taxes.

The tax debt arose only recently on connection with its 450-MW Thuan Nam solar power plant, a manager of the HCMC-based company told VnExpress on Thursday.

The plant is selling power to Electricity Vietnam (EVN) but the state company is paying slowly, causing the company cash flow difficulties, the manager said. "We will pay the tax debt after receiving payment from EVN."

Trung Nam Group has interests in a number of industries with energy being a key one: It operates several hydroelectric and renewable energy plants.

It is in fact a leading private player in hydroelectricity and renewables, but some of its power projects face difficulties including legal.