Prime Minister disciplines Deputy Finance Minister Vo Thanh Hung, two former deputy ministers

Prime Minister Pham Minh Chinh on Wednesday reprimanded Deputy Minister of Finance Vo Thanh Hung, and issued warnings to former deputy finance ministers Huynh Quang Hai and Do Hoang Anh Tuan.

Hung, Hai and Tuan were found to have committed violations while on duty. They had been disciplined by the Communist Party.

Previously, the Central Inspection Committee concluded that the Ministry of Finance’s Party leaders violated the principle of democratic centralism and working regulations, lacked responsibility, and showed lax leadership and direction.

Their violations gave rise the finance ministry and a number of organizations and individuals breaching the Party’s regulations and State’s laws in state management and promulgating mechanisms and policies on issuing and trading private placement corporate bonds, including those of businesses under Van Thinh Phat Group and An Dong Group; and in state budget management related to AIC company and businesses in its ecosystem.

The violations caused serious consequences that are difficult to remedy, leading to risks of huge loss and waste of state budget and damage to bond investors.

They also adversely affected the business environment, social order and social safety, causing bad public opinions and undermining the reputation of Party organizations and State management agencies to the point that they must be disciplined.

The main responsibility for the violations belongs to the finance ministry’s Party leaders in the 2016-2021 term and Vo Thanh Hung, Huynh Quang Hai and Do Hoang Anh Tuan, the conclusion says.