Former shipbuilding corporation chairman expelled from Communist Party

By Thai Ha
Wed, December 28, 2022 | 10:05 am GMT+7

Nguyen Ngoc Su, former chairman of the state-owned Shipbuilding Industry Corporation's board of members, was removed from the Vietnam Communist Party on Tuesday.

The Poliburo, the Party's premier decision-making body and the Party Central Committee's Secretariat, found that Su, also former Secretary of the company's (SBIC) Party Committee, violated the principle of democratic centralism, Party regulations, State laws, working regulations, and the Party members' code of conduct and responsibility to set an example.

His violations were deemed to have caused very serious consequences that will be difficult to remedy, causing frustration in society and adversely affecting the reputation of Party organizations and the SBIC's business.

Su was sentenced to 13 years in prison in 2019 for abusing his positions and power to appropriate property.

Nguyen Ngoc Su (second from left), former chairman of the state-owned Shipbuilding Industry Corporation, at court in 2019. Photo courtesy of Youth newspaper.

Nguyen Ngoc Su (second from left), former chairman of the state-owned Shipbuilding Industry Corporation, at court in 2019. Photo courtesy of Youth newspaper.

On December 21, the Central Inspection Committee had warned the standing board of the corporation's Party Committee in the 2010-2015 term and Vu Anh Tuan, secretary of the company's Party Committee and its board chairman, and reprimanded Cao Thanh Dong, general director.

Also on Tuesday, the Secretariat expelled Nguyen Thanh Tuan, secretary of the Party Committee of Thai Nguyen province's Department of Natural Resources and Environment and the department's director.

Nguyen Ngo Quyet, secretary of Phu Binh district's Party Committee and former director of Thai Nguyen's Department of Industry and Trade, was also removed from the Party.

Tuan and Quyet were found to have violated Party regulations and State laws while performing their duties; breached regulations on Party members' code of conduct and responsibility to set an example; and showed deteriorating political ideology, morality and lifestyle.

The above violations led to "very serious consequences, risks of great losses to the State, causing bad public opinion and anger in society and adversely affecting the reputation of Party organizations and state management agencies."

Comments ( 0)
  • Read More
New-generation FDI policy seen benefiting industrial parks, technology, financial sectors

New-generation FDI policy seen benefiting industrial parks, technology, financial sectors

Vietnam's new policy framework for the foreign-invested sector - the Politburo's Resolution No. 10, is expected to benefit industrial real estate, technology-semiconductor, banking, securities, logistics and energy companies, as the country shifts its focus toward higher-quality investment, according to brokerage Mirae Asset.

Economy - Sat, June 20, 2026 | 10:51 am GMT+7

ACV appoints Nguyen Cao Cuong as chairman, reaffirms Long Thanh airport launch by end-2026

ACV appoints Nguyen Cao Cuong as chairman, reaffirms Long Thanh airport launch by end-2026

Vietnam Airports Corporation (ACV) has appointed deputy general director Nguyen Cao Cuong as chairman, as the state-controlled airport operator seeks to stabilize its leadership following recent management upheavals.

Companies - Sat, June 20, 2026 | 8:00 am GMT+7

EVN, PV Gas review LNG supply progress for Quang Trach II, III power plants in central Vietnam

EVN, PV Gas review LNG supply progress for Quang Trach II, III power plants in central Vietnam

Vietnam Electricity (EVN) and Petrovietnam's subsidiary PV Gas on Tuesday reviewed progress on the latter's LNG supply project for the Quang Trach II and Quang Trach III power plants, located in Quang Tri province.

Companies - Fri, June 19, 2026 | 9:40 pm GMT+7

MSCI flags remaining weaknesses in Vietnam’s stock market despite reform progress

MSCI flags remaining weaknesses in Vietnam’s stock market despite reform progress

Vietnam continued to advance a series of capital market reforms over the past year, but key barriers related to foreign ownership limits, market accessibility, disclosure standards, and settlement infrastructure remain obstacles to a potential market status upgrade, according to MSCI’s latest Global Market Accessibility Review.

Finance - Fri, June 19, 2026 | 4:21 pm GMT+7

Banking, retail, oil sectors to lead Vietnam's stock market recovery: brokerage

Banking, retail, oil sectors to lead Vietnam's stock market recovery: brokerage

Vietnam’s stock market could be led by banking, consumer retail and oil & gas stocks as the economy enters a new growth cycle, brokerage Vietcap said, raising its year-end 2026 target for the benchmark VN-Index to 1,955 points.

Finance - Fri, June 19, 2026 | 3:05 pm GMT+7

Russia’s Gazprom exits $297 mln gas-fired power project in central Vietnam

Russia’s Gazprom exits $297 mln gas-fired power project in central Vietnam

Russia’s Gazprom has withdrawn from a planned $297 million gas-fired power plant in central Vietnam after more than five years of inactivity, prompting authorities to seek alternative investors to keep the project aligned with the country’s power development plan.

Energy - Fri, June 19, 2026 | 2:19 pm GMT+7

Vietnam’s Top 10 fund managers control 95% of industry assets

Vietnam’s Top 10 fund managers control 95% of industry assets

Vietnam’s fund management industry remains highly concentrated despite steady growth over the past decade, with the country’s 10 largest asset managers controlling 95% of total assets under management, according to Viet Wisdom Fund Management.

Finance - Fri, June 19, 2026 | 9:51 am GMT+7

Two converging trends continue to drive FDI into Vietnam

Two converging trends continue to drive FDI into Vietnam

Asian partners continue to dominate foreign direct investment (FDI) into Vietnam in the first five months of 2026, as both the wave of production diversification away from China and the ongoing restructuring of capital flows within ASEAN jointly generate additional momentum for investment inflows.

Investing - Fri, June 19, 2026 | 7:57 am GMT+7

Vingroup stocks surge as Vinhomes, Vincom Retail unveil 2025 dividend plans

Vingroup stocks surge as Vinhomes, Vincom Retail unveil 2025 dividend plans

Shares of companies affiliated with Vingroup rallied sharply on Thursday after Vinhomes and Vincom Retail announced plans to pay 2025 dividends, lifting the benchmark VN-Index despite broad weakness across the market.

Finance - Thu, June 18, 2026 | 9:09 pm GMT+7

SLP, J&T Express to develop automated logistics hub in southern Vietnam

SLP, J&T Express to develop automated logistics hub in southern Vietnam

Logistics infrastructure developer SLP Vietnam and courier company J&T Express have signed a strategic cooperation deal to jointly develop a large-scale automated sorting center in southern Vietnam, underscoring growing investment in logistics infrastructure as e-commerce demand accelerates.

Companies - Thu, June 18, 2026 | 4:54 pm GMT+7

Nearly 60 funds subscribe to Dien May Xanh IPO amid foreign investors' prolonged net selling

Nearly 60 funds subscribe to Dien May Xanh IPO amid foreign investors' prolonged net selling

Nearly 60 domestic and foreign investment funds have registered to buy 166 million shares in the initial public offering (IPO) of Dien May Xanh, the electronics retail chain of Mobile World Group (HoSE: MWG).

Companies - Thu, June 18, 2026 | 4:40 pm GMT+7

Half of Swedish businesses operating in Vietnam plan investment expansion

Half of Swedish businesses operating in Vietnam plan investment expansion

The fact that 50% of surveyed Swedish businesses plan to increase investment in Vietnam in 2026 demonstrates their firm long-term confidence in the Vietnamese market.

Industries - Thu, June 18, 2026 | 1:53 pm GMT+7

Vietnam seeks deeper nuclear cooperation with Russia's Rosatom

Vietnam seeks deeper nuclear cooperation with Russia's Rosatom

Vietnamese Prime Minister Le Minh Hung called for expanded cooperation in nuclear energy with Russia's Rosatom, including support for Vietnam's planned Ninh Thuan 1 nuclear power plant, at a meeting with CEO Alexey Likhachev on Wednesday.

Energy - Thu, June 18, 2026 | 1:38 pm GMT+7

Vietnam PM backs expanded energy cooperation with Russia's Zarubezhneft

Vietnam PM backs expanded energy cooperation with Russia's Zarubezhneft

Vietnamese Prime Minister Le Minh Hung met with Sergei Kudryashov, CEO of Russian state oil company Zarubezhneft, on Wednesday and expressed support for expanding bilateral cooperation in oil and gas, offshore wind power and other energy projects.

Energy - Thu, June 18, 2026 | 12:26 pm GMT+7

Vietnam central bank proposes easing limit on short-term funds for long-term lending

Vietnam central bank proposes easing limit on short-term funds for long-term lending

The State Bank of Vietnam has proposed raising the maximum ratio of short-term funding that commercial banks can use for medium- and long-term lending from 30% to 40%, marking a reversal of years of tightening aimed at reducing maturity mismatch risks.

Banking - Thu, June 18, 2026 | 11:16 am GMT+7

EVNGENCO3 completes over 50% of year's profit target, accelerates investment in new power projects

EVNGENCO3 completes over 50% of year's profit target, accelerates investment in new power projects

Vietnam's Power Generation Corporation 3 (EVNGENCO3) has completed nearly 55% of its full-year profit target after the first five months of 2026, supported by resilient electricity demand and stable system operations, while stepping up investments in LNG-fired power, battery energy storage systems (BESS) and renewable energy projects.

Investing - Thu, June 18, 2026 | 8:17 am GMT+7