Former deputy health minister gets year off jail term
An appeals court in Hanoi has reduced the jail term for former deputy minister of health Truong Quoc Cuong to three years, one year less than sentence awarded by the court of first instance in May.
Cuong was found to “have lacked responsibility, causing serious consequences” in a counterfeit medicines scam.
The court stated Friday that defendant Cuong had mitigating circumstances like paying an additional VND500 million ($21,000) to the previous VND1.8 billion; and possessing 51 certificates of merit and an official letter from the Ministry of Health confirming that he had made contributions to the health sector.
The appellate court also noted that Cuong had made a sincere declaration.

Truong Quoc Cuong in court, Hanoi, September 30, 2022. Photo courtesy of Vietnamnet newspaper.
Pham Anh Kiet, former general director of Saigon Pharmaceutical Company Limited, also has his jail term reduced by one year to 13 years that he got for for abusing his position and power in the performance of official duties.
The court upheld the first-instance court's sentences for other defendants in the case.
Under the instance court ruling in May, Nguyen Minh Hung, former chairman of VN Pharma Company, had received an additional 18 years in prison for the crime of “trading in counterfeit goods as medical drugs”.
Combined with a 17-year prison sentence in the counterfeit drug case of VN Pharma phase 1, the defendant must serve 30 years in prison, the highest level for a fixed-term penalty. Hung did not appeal against the ruling.
The jury found the case “particularly serious” because the goods was counterfeited to treat human diseases, of various types, most of which were antibiotics against severe infections.
Medicine is a special item, exclusively managed by the state. The defendants’ act “has severely affected the health care policy of the state towards the people and reduced the reputation of the health sector”.
The instance court ruled that, in 2008-2010, Nguyen Le Xuan Khang, a Vietnamese citizen of Canadian nationality, along with Nguyen Minh Hung, former chairman and general director of VN Pharma Company, forged documents on drugs labeled Health 2000 Canada, and hired two companies to apply for registration numbers.
Because of "lack of responsibility or personal motives", some officials of the Drug Administration of Vietnam committed violations during the appraisal and approval process.
As a result, seven counterfeit medicines labeled Health 2000 Canada were granted registration numbers, while many new drugs have been traded and imported via many fake contracts, annexes and invoices. In this case, drugs totaling 838,100 boxes had their price raised from more than $1.2 million when imported to more than $2.5 million.
More than 600,000 boxes of counterfeit drugs were sold by VN Pharma to businesses, hospitals and pharmacies, illicitly earning the firm more than VND31.5 billion ($1.36 million).
In the case, Khang reached agreements to sell six counterfeit medicines labeled Health 2000 Canada to five domestic enterprises through 36 contracts. The total amount was nearly 1.6 million boxes, worth $4.6 million.
Khang remains on the run.
- Read More
Vietnam pledges support for AES investment in green energy
Vietnam will continue to facilitate foreign investment and business activities, including those by U.S. enterprises, in line with laws and the country’s evolving development needs, said Tran Luu Quang, Chairman of the Party Central Committee’s Commission for Policies and Strategies.
Companies - Wed, July 9, 2025 | 11:10 pm GMT+7
Tezuka Daisuke appointed as new general director of Aeon Vietnam
Aeon Group has appointed Tezuka Daisuke, who is in charge of its organization reform for fiscal year 2025, as general director of Aeon Vietnam Co., Ltd.
Companies - Wed, July 9, 2025 | 11:03 pm GMT+7
Vietnam mobilizes over $7 bln for Just Energy Transition
Vietnam has so far mobilized more than $7 billion for its Just Energy Transition agenda under the Political Declaration on the Just Energy Transition Partnership (JETP).
Companies - Wed, July 9, 2025 | 10:38 pm GMT+7
Thailand hopes to conclude US trade talks before new deadline
Thailand is optimistic that it can finalize a trade deal with the U.S. before the August 1 deadline to avoid a 36% tariff imposed by President Donald Trump, according to Finance Minister Pichai Chunhavajira.
Southeast Asia - Wed, July 9, 2025 | 10:34 pm GMT+7
Southeast Asia seeks additional tariff negotiations with US
Southeast Asia's biggest economies are preparing to intensify trade negotiations with the U.S. after being subjected to steep tariff rates, despite having made a series of last-minute proposals aimed at increasing imports and significantly reducing tariffs on U.S. goods.
Southeast Asia - Wed, July 9, 2025 | 10:31 pm GMT+7
Foreign capital massively flows into banking, securities stocks
Foreign investors net bought for the sixth consecutive session on the Vietnamese stock market Wednesday, to the tune of nearly VND2,000 billion ($76.5 million), focusing on banking and securities stocks.
Finance - Wed, July 9, 2025 | 10:17 pm GMT+7
Four new container terminals to be built in northern Vietnam economic hub
Prime Minister Pham Minh Chinh has granted in-principle approval for the development of four new container terminals at Lach Huyen Port in the northern city of Hai Phong.
Infrastructure - Wed, July 9, 2025 | 5:36 pm GMT+7
Sausage mogul eyes $5 bln green energy, cattle project in northern Vietnam
Mai Huy Tan, who founded and later sold the popular Duc Viet sausage brand, has proposed a $5 billion circular economy complex in Quang Ninh province, northern Vietnam.
Industries - Wed, July 9, 2025 | 5:14 pm GMT+7
Northern Vietnam urban-tourism project Cat Ba Amatina has new investor
Hanoi Anpha Real Estate Exchange Co., Ltd. (Hanoi Anpha) has become a major shareholder of Vinaconex ITC, the developer of the Cat Ba Amatina urban-tourism project in Hai Phong city, northern Vietnam.
Real Estate - Wed, July 9, 2025 | 2:57 pm GMT+7
Brazil’s leading food group JBS eyes turning Vietnam into global production hub
JBS, the world’s leading food processing company, is looking to transform Vietnam into a global and regional distribution and production center.
Industries - Wed, July 9, 2025 | 9:51 am GMT+7
Brazilian-backed payment solutions firm Alterosa MK plans expansion in Vietnam
Alterosa MK, a joint venture between Brazil’s Alterosa Group and MK Group of Vietnam, said it expects to receive more support from the two governments for investment expansion.
Finance - Wed, July 9, 2025 | 9:00 am GMT+7
USD price may reach VND26,400 in Q3, VND26,200 in Q4: UOB
Singaporean bank UOB's updated USD/VND projections are 26,400 in Q3/2025, 26,200 in Q4/2025, 26,000 in Q1/2026, and 25,800 in Q2/2026.
Economy - Wed, July 9, 2025 | 8:41 am GMT+7
Vietnam's stock market moving toward sustainability, professionalism: exec
The quality of investors in Vietnam has significantly improved as more and more investors start to adopt asset management strategies and disciplined investing, instead of merely engaging in short-term trading, said Nguyen Hoang Yen, chairwoman of Mirae Asset Securities.
Finance - Tue, July 8, 2025 | 11:40 pm GMT+7
Vietnam's credit growth hits record high since 2023
Vietnam’s total credit outstanding surpassed VND17.2 quadrillion (about $658.31 billion) in the first half of 2025, marking a 9.9% increase from the end of 2024 and a 19.3% rise year-on-year, the highest growth rate since 2023.
Banking - Tue, July 8, 2025 | 11:26 pm GMT+7
Foreign investors net buy for fifth consecutive session
Foreign investors' transactions on the Ho Chi Minh Stock Exchange (HoSE) continued to be a highlight as they net bought for the fifth consecutive session on Tuesday, to the tune of over VND7,679 billion ($293.88 million).
Finance - Tue, July 8, 2025 | 6:08 pm GMT+7
Northern Vietnam province opens bid for $2 bln tourism-casino complex project
Quang Ninh, a coastal province in northern Vietnam, is seeking investors for a large-scale tourism and casino complex valued at VND51.5 trillion ($2 billion) in its strategic Van Don Economic Zone.
Real Estate - Tue, July 8, 2025 | 4:37 pm GMT+7