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
EPC contract signed for O Mon IV thermal power project in southern Vietnam
An EPC contract signing ceremony for the O Mon IV thermal power project in Can Tho city took place on Friday, at the headquarters of state-owned Petrovietnam - the investor.
Energy - Sun, June 8, 2025 | 8:00 am GMT+7
Vietnam's agri major Hoang Anh Gia Lai ventures into mulberry cultivation, coffee production
After overcoming two major obstacles - debt and accumulated losses - Vietnam's agri major Hoang Anh Gia Lai JSC (HoSE: HAG) is charting a bold five-year strategic roadmap, introducing two new business segments: mulberry cultivation and coffee-tea production.
Companies - Sat, June 7, 2025 | 4:35 pm GMT+7
Stock trading accounts hit 10 mln in Vietnam
Vietnam recorded a large increase in the number of stock trading accounts in April and May, when the U.S. tariff turbulence caused strong market fluctuations.
Finance - Sat, June 7, 2025 | 3:38 pm GMT+7
Thailand’s SCG books $301 mln in Q1 sales from Vietnam
Siam Cement Group (SCG) reported sales of VND7.77 trillion ($301 million) in Vietnam in Q1/2025, reflecting the country as a key market for the Thai conglomerate in Southeast Asia.
Companies - Sat, June 7, 2025 | 9:54 am GMT+7
Vietnam’s energy firm identifies 3 emissions violations among Vietnamese enterprises
Looking ahead, 2030 is a milestone year, as major global brands such as Unilever, Nestlé, H&M, and Nike have committed to cutting Scope 1 and Scope 2 emissions by 50-65%, said Pham Dang An, CEO of Vu Phong Energy Group, a major developer of clean energy in Vietnam.
Companies - Sat, June 7, 2025 | 8:00 am GMT+7
Deal acquiring financial firm of Vietnam's SeABank invalid: Aeon Financial
Aeon Financial Service Co., Ltd. on Friday stated that its deal to purchase a financial company owned by Vietnam's SeABank is invalid due to "inappropriate accounting transactions."
Finance - Fri, June 6, 2025 | 11:57 pm GMT+7
VSAP LAB to build $69 mln chip packaging tech laboratory in central Vietnam
Vietnamese private firm VSAP LAB JSC has been approved as the investor of a VND1.8 trillion ($69.11 million) advanced packaging technology laboratory project that will assist semiconductor production in the central city of Danang.
Industries - Fri, June 6, 2025 | 8:11 pm GMT+7
Vietnam's major property developer Hoang Huy successfully raises $30.7 mln from parent company
Hoang Huy Investment Services JSC (HoSE: HHS) has successfully issued 64 million shares for VND800 billion ($30.7 million) via private placement to its parent company – Hoang Huy Financial Services Investment JSC (TCH).
Companies - Fri, June 6, 2025 | 3:32 pm GMT+7
Subsidiaries, affiliates likely not to enjoy preferential corporate income tax in Vietnam
Subsidiaries and affiliates of enterprises in Vietnam might not be eligible for preferential corporate income tax (CIT) rates of 15-17%, in order to prevent abuse of incentives like splitting income for tax avoidance, according to the Financial and Economic Committee under the National Assembly, the country's legislature.
Finance - Fri, June 6, 2025 | 3:22 pm GMT+7
VPS Securities JSC named Vietnam’s best broker again by The Asset
VPS Securities JSC (VPS) has once again been honored as the “Best Brokerage House in Vietnam” at the Triple A Awards 2025, presented by The Asset, a leading Asia-focused financial publication.
Companies - Fri, June 6, 2025 | 11:40 am GMT+7
Vietnam's agri major BAF eyes two 6-story buildings for pig farming in southern Vietnam
BAF Vietnam Agriculture JSC has submitted a proposal to the Ministry of Agriculture and Environment to develop a smart pig farming complex including two six-story buildings in the southern provinces of Tay Ninh and Binh Phuoc.
Industries - Fri, June 6, 2025 | 11:20 am GMT+7
Food major Kido leaders reveal real estate ambitions
Leaders of Kido Group, a leading Vietnamese food and cooking oil producer, said they see many positive policies that are helping to ease real estate market difficulties and create favorable conditions for the company to develop projects on its land reserves.
Real Estate - Fri, June 6, 2025 | 11:03 am GMT+7
Indonesia accelerates procedures to join OECD
The Indonesian Government has finalised the preparation of the Initial Memorandum (IM) for its accession to the Organisation for Economic Co-operation and Development (OECD), which will be submitted to OECD Secretary-General Matthias Cormann in Paris, France.
Southeast Asia - Fri, June 6, 2025 | 10:16 am GMT+7
OECD lowers Indonesia's growth forecast to 4.7%
The Organisation for Economic Cooperation and Development (OECD) has lowered its forecast for Indonesia's economic growth down to 4.7% this year, from the previous 4.9%, due to weakened domestic sentiment and heightened external risks.
Southeast Asia - Fri, June 6, 2025 | 10:15 am GMT+7
Vietnam, US sign additional agricultural trade deals worth over $600 mln
Vietnam and the U.S. on Wednesday signed MoUs on importing animal feed materials from Ohio state with total value exceeding $600 million.
Economy - Fri, June 6, 2025 | 10:03 am GMT+7
My Thuy deepwater port to become central Vietnam logistics hub
My Thuy Deepwater Port, once operational, will not only create a new growth pole for the central province of Quang Tri and serve as a gateway to the East Sea, but also become a regional logistics hub.
Infrastructure - Fri, June 6, 2025 | 8:00 am GMT+7