ECOPARK CORPORATION JOINT STOCK COMPANY

ECOPARK CORPORATION JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN TẬP ĐOÀN ECOPARK) is one of Vietnam’s most ambitious and high-profile urban real estate developers. Marketed as an “ecological urban paradise,” the Ecopark megaproject in Hung Yen Province has positioned itself as a model for sustainable living, luxury, and modern infrastructure. However, behind the glossy advertisements and landscaped lakes lies a more complicated story about land use, financial volatility, and quiet consolidation of power in the hands of a few.

Founded on August 19, 2003, and legally registered with the Hung Yen Department of Planning and Investment under Tax Identification Number 0101395308, ECOPARK has over two decades of real estate investment and development experience. Its headquarters are based within its own flagship project—the Van Giang Commercial and Tourist Urban Area, Hung Yen—symbolizing its integrated approach to development, branding, and community-building.

At the financial level, ECOPARK CORPORATION JOINT STOCK COMPANY ended 2023 with USD 324.79 million in revenue, down 14.12% from the previous year. Profits also fell significantly—by 35.37%—to USD 74.18 million, even as the company maintained a relatively healthy equity position of USD 297.16 million. Total assets stood at USD 684.3 million, showing a continuous decline over three years. Despite a massive 1426% increase in working capital, questions remain about long-term profitability and capital allocation efficiency—especially in a tightening real estate market rocked by oversupply and regulatory reform.

The company is chaired by Mr. Luong Xuan Ha, while Mr. Tran Quoc Viet serves as General Director. Their leadership commands a surprisingly lean workforce of just 62 registered employees, an unusually small number for a company managing billions in real estate assets. This raises speculation in the market about the real operational structure and the extent to which key decisions are centralized among a tight group of insiders.

Ownership is concentrated among a few private entities: DB Investment and Development One Member Co., Ltd.holds 36% of the shares, followed by Duy Nghia Co., Ltd. and Phung Thien Trading Co., Ltd., each with 20%. This closely-held structure invites little external oversight and has drawn criticism for lacking transparency in project finances, land acquisitions, and environmental impact assessments.

The Ecopark urban area itself—while widely praised for its modern design and green space—has been subject to longstanding controversy. Local press and civil society groups have raised concerns about forced land clearance, opaque compensation practices for farmers, and the privatization of public land under the guise of “eco-tourism” and sustainable development. While the company insists it follows legal guidelines, opponents argue that the laws themselves are often vague and favor large developers over displaced rural residents.

From a strategic perspective, ECOPARK CORPORATION JOINT STOCK COMPANY has expanded into adjacent sectors including infrastructure construction, water supply, and even agriculture and media services. While diversification may offer long-term synergies, it also increases operational complexity and dilutes the company’s focus amid an already challenging property environment.

For stakeholders evaluating business partnerships or investment decisions, Vanguard Business Information LLC (VBI)provides a comprehensive report on ECOPARK CORPORATION JOINT STOCK COMPANY, offering detailed financial breakdowns, risk assessments, governance insights, and shareholder analysis. This is especially crucial in Vietnam’s real estate sector, where lack of public disclosure and tight-knit ownership structures demand sharper due diligence.

In summary, ECOPARK CORPORATION JOINT STOCK COMPANY represents both the promise and the pitfalls of Vietnam’s modern urbanization drive. It has created a new living standard for a segment of the population, but also left behind unresolved questions about fairness, sustainability, and concentration of capital and land rights.