Viet Phat Group chairperson barred from leaving Vietnam over tax debt

Viet Phat Group (stock code VPG) announced that its chairman and legal representative, Lê Thị Thanh Lệ, has been placed under a travel ban by the tax office in Hải Phòng. The ban, effective from 6 July 2026, remains in force until the company settles its tax liabilities, which total more than VND 85.8 billion and stem from overdue obligations exceeding VND 500 million for over 120 days.

The company reported a sharp downturn in 2025, with net revenue falling to VND 12.478 trillion – a 30% decline year‑on‑year – and a post‑tax loss of VND 597 billion. Its shares have been under a warning status on the Ho Chi Minh City Stock Exchange since 14 April 2026 and are trading below par value. For 2026, Viet Phat has set a cautious target of VND 500 billion in revenue and VND 5 billion in net profit, a stark contraction from the prior year’s figures. The company also noted recent senior‑management changes, and its former chairman, Nguyễn Văn Bình, was previously prosecuted in a related case.