The Ho Chi Minh City tax authority has disclosed information on 4,125 businesses with outstanding tax and other state budget obligations as of the end of August 2026, totaling more than VND11.93 trillion ($452 million).

The list includes numerous companies operating in real estate, construction and building materials, with outstanding amounts ranging from tens to hundreds of billions of Vietnamese dong.

Vung Tau Paradise Joint Venture Co. tops the list with tax debt of VND2.215 trillion ($84 million), an increase of nearly VND150 billion ($5.7 million) from the beginning of 2026.

The company is the developer of the 220-hectare Vung Tau Paradise tourism complex at Back Beach in the former Vung Tau City, with investment exceeding $97 million.

Housing Development and Trading Joint Stock Company (HDTC) is also among the largest debtors, owing VND520 billion ($19.7 million).

The company has invested in and developed several real estate projects in Ho Chi Minh City, including the An Phu - An Khanh urban area, also known as Laimian City.

The Forest City Co., Ltd. and Ngan Hiep Real Estate Joint Stock Company, developers of subdivisions within the NovaWorld Ho Tram resort urban complex in the former Ba Ria - Vung Tau Province, owe VND209 billion ($7.9 million) and VND151 billion ($5.7 million), respectively.

Another notable name is Saigon One Tower Joint Stock Company, with outstanding tax debt of nearly VND132 billion ($5 million).

The company was the original developer of the Saigon One Tower project, located on a prime site in Ho Chi Minh City with frontages on Ham Nghi, Ton Duc Thang and Vo Van Kiet streets. Construction on the project stopped and remained stalled for an extended period.

Several real estate and construction businesses owe between VND40 billion and VND80 billion.

BCG Land Joint Stock Company owes VND78.7 billion ($3 million), Khang Linh Co., Ltd. VND78.5 billion ($3 million), Truong Thinh Phat Real Estate Construction Investment Joint Stock Company VND76.9 billion ($2.9 million), and Hoa Binh Construction Group Joint Stock Company VND41 billion ($1.6 million).

Thuan An Real Estate Joint Stock Company, associated with the Lavita Thuan An project, owes VND45.4 billion ($1.7 million), while Tien Phuoc Real Estate Joint Stock Company, developer of the Senturia An Phu project, owes VND45.1 billion ($1.7 million).

Ba Ria - Vung Tau House Development Joint Stock Company, developer of The Light City, owes VND64.2 billion ($2.4 million).

One real estate company that has recorded a notable reduction in its tax debt is Kim Oanh Real Estate Construction, Trading and Services Joint Stock Company.

Its outstanding tax obligations have fallen from around VND70 billion ($2.7 million) at the beginning of 2026 to nearly VND28 billion ($1.1 million).

Thuan Loi Investment and Development Joint Stock Company, which is associated with Kim Oanh, currently owes more than VND18.4 billion ($700,000) in taxes.

Binh Duong Mineral and Construction Joint Stock Company (KSB) was also listed with tax debt of more than VND22.2 billion ($840,000).

The company operates in mineral extraction and processing, building-material production, infrastructure development and real estate.

KSB's Chairman Phan Tan Dat also serves as chairman of the Ho Chi Minh City Young Businesspeople Association for the 2026-2029 term, chairman of the Ho Chi Minh City Mineral Industry Association for the 2025-2030 term, and a member of the Ho Chi Minh City People's Council for the 2026-2031 term.

Anh Phuong