Former market management official gets 9-year imprisonment for accepting bribes
The Hanoi People's Court sentenced Tran Hung, former deputy director of the General Department of Market Management, to nine years in prison Thursday for accepting a bribe of VND300 million ($12,700) in a scam involving “fake” textbooks.
The judges said that Hung, 61, had a "good background," but did not merit leniency because he did not confess to his crime. The court also ordered Hung to pay back the VND300 million bribe he was found guilty of accepting.

Tran Hung at court in Hanoi, July 27, 2023. Photo courtesy of Youth newspaper.
In the same case, Nguyen Duy Hai, a freelance worker, was sentenced to 27 months in prison for brokering bribes.
Three people from the Market Management Team No. 17, under the Ministry of Trade and Industry's General Department of Market Management, were also found guilty of abusing positions and power while performing their duties.
Le Viet Phuong, former deputy head of the team, received 30 months in prison. Pham Ngoc Hai got a 20-month suspended prison sentence and Thanh Thi Dong Phuong an 18-month suspended prison sentence.
Among the group of defendants accused of producing and trading in counterfeit goods, Cao Thi Minh Thuan, director of the Phu Hung Phat Company, was sentenced to 10 years in prison.
Thuan had sold more than six million “fake” textbooks to make illegal profits of more than VND30 billion ($1.27 million). The court ordered her to pay more than VND8 billion ($338,000) to the state. Her accomplices were likewise ordered to pay nearly VND22 billion ($929,300) to the state.
As leader of the General Department of Market Management, Tran Hung was identified as having "position and authority" to check the fake textbooks produced by the Phu Hung Phat Company.
During the four-day trial, 35 of 36 defendants admitted to their actions and requested leniency in sentencing.
But Tran Hung insisted that he was innocent and asked that the judges release him. He said the prosecution was completely wrong in accusing him of accepting bribes. Instead, he should have been praised for his anti-counterfeiting achievements, Hung said.
"During my decades as a market manager, no one has been able to manipulate me with bribes," he told the court.
According to the prosecution, after 27,300 fake textbooks were discovered, Thuan and Hai asked Hung to ignore the fraud in return for a payment of VND400 million ($16,900). Hung later "instructed Thuan to change the statement of origin of the textbooks" to make it look as though it had been brought in for storage.
One day in July 2020, Hai took a black nylon bag with VND300 million in cash from Thuan to Hung's office, but the latter asked him to go away. Early afternoon the same day, Hai returned to the office and gave the money to Hung.
Thuan also gave Le Viet Phuong and the Market Management Team No. 17 a total of VND330 million after the Phu Hung Phat Company was let off with an administrative fine. Phuong gave two junior colleagues a sum of VND11 million ($464) each.
- Read More
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
Vietnam's 5-month registered FDI hits $18.4 bln, up 51%
Registered foreign direct investment (FDI) in Vietnam hit $18.4 billion in the first five months of the year, up 51.1%, while disbursed capital reached $8.9 billion, up 7.9%.
Economy - Thu, June 5, 2025 | 6:52 pm GMT+7
Indonesia launches economic stimulus package to boost purchasing power
The Indonesian Government has rolled out an economic stimulus package worth IDR24.44 trillion (nearly $1.53 billion) to maintain consumer purchasing power and stabilize the national economy.
Southeast Asia - Thu, June 5, 2025 | 4:06 pm GMT+7
Vinhomes subsidiary to develop two industrial parks worth $383 mln in northern Vietnam
Vinhomes Hai Phong Industrial Park Investment JSC under Vinhomes, the housing arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to be the investor of two industrial parks worth VND10 trillion ($383 million) in the northern port city of Hai Phong.
Real Estate - Thu, June 5, 2025 | 3:54 pm GMT+7
Agriculture drives Indonesia’s economic growth
Agriculture is emerging as a key driver of Indonesia’s economic growth, especially in the first quarter of 2025, according to the latest report by the Indonesian Institute for Development of Economics and Finance (INDEF).
Southeast Asia - Thu, June 5, 2025 | 3:46 pm GMT+7
Vietnam's logistics heavyweight Gemadept plans over $38 mln buyback if shares plunge
Gemadept, Vietnam's leading port and logistics company, listed on the Ho Chi Minh Stock Exchange as GMD, plans to buy back 21 million shares, equivalent to 5% of its outstanding shares.
Companies - Thu, June 5, 2025 | 3:32 pm GMT+7