HAN Chairman Expelled from Party After Suspension

Overview

The Central Inspection Committee has expelled the Chairman and a Deputy General Director of Hanoi Construction Corporation (HAN) from the Communist Party for serious violations. The decision, announced on September 7, follows the Chairman’s suspension in late June and adds to governance concerns at the UPCOM-listed construction firm.

Key Facts

• On September 7, the Central Inspection Committee expelled Đậu Văn Diện, Chairman of the Board, and Nguyễn Đức Toàn, Deputy General Director, from the Party.
• Đậu Văn Diện was suspended from his role as Chairman in late June 2026, without stated reasons.
• The violations were deemed to have caused “very serious consequences” and damaged the reputation of the Party and the company.
• HAN is a state-owned enterprise under the Ministry of Construction, established in 1982.
• HAN converted to a joint-stock company in 2014 with charter capital exceeding VND 1,410 billion and listed on UPCoM in 2016.
• HAN is one of 10 members of the Vietur consortium, which won a VND 35,000 billion contract for the Long Thành International Airport passenger terminal.
• HAN’s stock closed at VND 7,600 on September 7, 2026.

What Happened

The Central Inspection Committee, at its 12th session on September 7, decided to discipline Đậu Văn Diện, Chairman of the Board of Directors of Hanoi Construction Corporation (Hancorp, ticker HAN), and Deputy General Director Nguyễn Đức Toàn. The committee concluded that both officials had degraded in political ideology, ethics, and lifestyle; violated Party regulations and state laws in performing their duties; and breached rules on anti-corruption, wastefulness, and negativity. Their actions were deemed to have caused very serious consequences and damaged the reputation of the Party and the company, warranting expulsion from the Party.

Earlier, in late June, Đậu Văn Diện had been temporarily suspended from his role as Chairman by Hancorp, without public explanation. Diện, who holds a master’s degree in business administration, joined Hancorp in 2014 and became Chairman in March 2021. The company, under the Ministry of Construction, operates in real estate, construction, investment, services, and industrial production.

Market Context

HAN trades on UPCOM, with its stock closing at VND 7,600 on September 7, 2026. The company is part of the Vietur consortium, which won a VND 35,000 billion contract for the Long Thành airport terminal, a major infrastructure project. The leadership crisis adds to governance risks for a state-linked enterprise, potentially affecting investor sentiment and the company’s ability to execute large contracts.

Strategic Significance

The expulsion of top executives signals heightened scrutiny of state-owned enterprises in Vietnam’s construction sector. For HAN, the immediate challenge is leadership stability and maintaining credibility with partners and investors. The company’s role in the Long Thành airport project—a national priority—makes governance and execution capacity critical. Long-term investors should monitor how HAN addresses these governance issues and whether it can sustain its participation in major infrastructure deals.

What to Watch

• Official announcements from HAN regarding interim leadership and succession plans.
• Any regulatory or legal actions against the expelled executives.
• Updates on HAN’s financial performance and contract execution, especially related to the Long Thành airport project.
• Market reaction in HAN’s stock price over the coming weeks.
• Potential changes in the company’s board composition or ownership structure.