As of December 2025, local tax authorities recorded 3,225 businesses in the city owing taxes or other state budget contributions, with total arrears exceeding VND 9.7 trillion (approx. USD 398 million).

The public release of this list follows the Tax Administration Law 2019 and Government Decree 126, which authorize tax agencies to disclose information on outstanding debts.

At the top of the list is Vung Tau Paradise Joint Venture Company, which owes a staggering VND 2.066 trillion (around USD 85 million). The company is known as the developer of the Vung Tau Paradise tourism project - located on a 220-hectare stretch of prime coastal land in the Back Beach area of Vung Tau City. Despite initial investment commitments exceeding USD 97 million, only the golf course in the complex remains operational, while many other service facilities lie abandoned.

Second on the list is Golden Hill Investment JSC, with tax debts totaling VND 1.568 trillion (approx. USD 64 million). The company is the developer behind the Alpha City complex at 87 Cong Quynh Street, in Cau Ong Lanh ward. Situated on a “golden land” site of over 8,300 square meters, the project has faced years of delay and remains stagnant.

Several other companies owing between VND 50–100 billion also operate in real estate development and investment.

These include:

Nam Kim Industrial Construction Investment JSC (VND 52.7 billion)
Ha An Real Estate Investment JSC (VND 66.5 billion)
Kim Oanh Real Estate Services - Trading - Construction JSC (VND 69.4 billion)
BCG Land JSC (VND 71 billion)

The report also notes an unusual detail: 82 companies on the debt list owe less than VND 100 (under USD 0.01), including many inactive or defunct entities that may not have settled symbolic balances.

The Tax Department emphasized that full enforcement measures will be applied to recover outstanding amounts, including publishing company names, freezing accounts, and initiating legal proceedings if necessary.

Anh Phuong