Viet A loses labor medal over Covid test kit scam
The State President on Thursday abolished his decision to award a third-class Labor Medal to Viet A Company due to its "serious violations of the law, causing public outcry".
In February 2020, amid the Covid-10 outbreak surge, the Ministry of Science and Technology approved a national project to research and manufacture RT-PCR and real-time RT-PCR biological kits to detect new coronavirus strains, to be implemented by Military Medical Academy.
Of the 17 project members, 14 were Military Medical Academy staff and four from Viet A Company.
A month later, the Covid-19 test kit of Viet A was licensed by the Ministry of Health for temporary circulation, and was officially circulated in December 2020.
Many individuals and groups were then awarded. Viet A Company received a third-class Labor Medal in March 2021. There are three Labor Medal levels, with third-class the lowest. Viet A test kits were since provided to many cities and provinces across the country.
Phan Quoc Viet, CEO of Viet A Company. Photo courtesy of the company.
Phan Quoc Viet, CEO of Viet A Company, was arrested in December 2021. He then admitted he had inflated the price of a Covid-19 test kit by 45% and given huge bribes to corporate partners and leaders of provincial and city centers for disease control (CDC) nationwide, asking them to distribute and use Covid-19 test kits provided by his company.
Lieutenant General To An Xo, chief of staff and spokesperson of the Ministry of Public Security, told a government meeting in early June that Viet A earned up to VND4,000 billion ($172.47 million) illicitly, of which VND800 billion was spent on bribes.
Many officials have been arrested for violations related to Viet A. Minister of Health Nguyen Thanh Long on June 7 was dismissed from his position for his involvement in the Viet A Covid test kit scam after being expelled from the Communist Party a day before.
Truong Quang Viet, Center for Diseases Control Hanoi (CDC Hanoi) chief, was detained on June 10 for wrongdoings in the scam, following the arrest of CDC leaders nationwide on the same charges.
- Related News
- Read More
Vietnam's manufacturing sector returns to growth after 4 months as new orders rise
Despite further export weakness due to U.S. tariffs, the Vietnamese manufacturing sector returned to growth in July as a renewed expansion in new orders supported a faster rise in production, according to S&P Global.
Economy - Sat, August 2, 2025 | 3:07 pm GMT+7
SCG-backed $5.4 bln petrochemical complex in southern Vietnam set to restart in late August
The $5.4 billion Long Son Petrochemicals Complex (LSP) in southern Vietnam may resume operations as early as late August or early September following a nearly one-year hiatus.
Industries - Sat, August 2, 2025 | 1:22 pm GMT+7
Draft resolution on piloting digital asset market in Vietnam to be submitted in August
A draft resolution on piloting Vietnam’s digital asset market is being finalized and expected to be submitted to the government within August, according to a State Securities Commission (SSC) official.
Finance - Sat, August 2, 2025 | 12:35 pm GMT+7
LNG, offshore wind power developers in Vietnam seek policy support to overcome obstacles
As the implementation of LNG and offshore wind power projects remains challenging while enormous investment capital is required, developers definitely need strong support policies and mechanisms, said insiders.
Energy - Sat, August 2, 2025 | 8:47 am GMT+7
US imposes 20% reciprocal tariffs on imports from Vietnam: trade ministry
U.S. President Donald Trump on Thursday signed an executive order imposing new reciprocal tariffs on imports from 69 countries and territories, with rates ranging from 10% to 41%. Vietnam was hit with a 20% levy.
Economy - Fri, August 1, 2025 | 5:47 pm GMT+7
Profit of Vietnam’s top construction contractor Coteccons hits 5-year high in fiscal year 2025
Ho Chi Minh City-headquartered construction giant Coteccons reported a post-tax profit of VND454 billion ($17.32 million) for the 2025 fiscal year (from Q3/2024 to Q2/2025), up 47% year-on-year.
Companies - Fri, August 1, 2025 | 4:58 pm GMT+7
Italian energy giant ENI eyes more bioenergy opportunities in Vietnam
Vietnam wishes to see Italian group ENI expand its investment and partnerships with domestic stakeholders in line with the country's green transition, particularly in the area of carbon capture, utilization and storage (CCUS), said Deputy Minister of Industry and Trade Nguyen Hoang Long.
Energy - Fri, August 1, 2025 | 1:50 pm GMT+7
Vietnam's tech heavyweight FPT exec dies at 57
Hoang Nam Tien, vice chairman of FPT University Council and former chairman of FPT Telecom and FPT Software, both under Vietnam's leading IT corporation FPT, died from a stroke on Thursday, aged 57.
Companies - Fri, August 1, 2025 | 11:21 am GMT+7
Vietnam Airlines’s 6-month profit surpasses full-year target by over 20%
After the first six months of the year, national flag carrier Vietnam Airlines had completed more than half of the year's revenue plan and exceeded the year's profit target by 20.3%.
Companies - Fri, August 1, 2025 | 11:10 am GMT+7
Vietnam's central bank raises credit growth quotas for lenders
Vietnam’s central bank has allowed credit institutions to expand their credit growth limits this year, allocating quotas based on each lender’s capacity, performance, and regulatory compliance.
Banking - Fri, August 1, 2025 | 9:20 am GMT+7
State-controlled VietinBank reports 80% profit surge in Q2, stock price rallies
VietinBank, one of Vietnam’s Big 4 banks, recorded a pre-tax profit of VND12.1 trillion ($462.08 million) and after-tax profit of VND9.75 trillion ($372.34 million) in the second quarter of 2025, up 79% and 80.29% year-on-year respectively.
Banking - Fri, August 1, 2025 | 8:00 am GMT+7
Vietnam conglomerate Vingroup’s H1 profit surges 120% on robust real estate, EV performance
Vingroup JSC (HoSE: VIC) reported a consolidated net profit of VND4,509 billion ($172.2 million) in the first half of 2025, up 120% year-on-year, driven by strong performance in real estate and electric vehicle segments.
Companies - Thu, July 31, 2025 | 9:22 pm GMT+7
Vietnam’s tech unicorn VNG returns to profit in Q2 on steady gaming growth
Vietnamese tech unicorn VNG Corp (UPCoM: VNZ) returned to the black in the second quarter of 2025, supported by robust gaming revenue and tighter cost management.
Companies - Thu, July 31, 2025 | 8:23 pm GMT+7
Southern Vietnam port partners with Chinese firms to expand logistics network
The Long An International Port in the southern province of Tay Ninh on Wednesday signed a cooperation agreement with SPG Bohaiwan Port and Bohwa Shipping Pte Ltd of China to expand its logistics network.
Companies - Thu, July 31, 2025 | 2:51 pm GMT+7
Consortium proposes $850 mln energy storage battery plant in southern Vietnam
A consortium of five international and Vietnamese companies has proposed investing in an energy storage battery plant in the Ho Chi Minh City-based Saigon High-Tech Park (SHTP), with total investment capital of $850 million.
Industries - Thu, July 31, 2025 | 2:35 pm GMT+7
World-class talent ‘absolutely central’ to success of Vietnam's international financial center ambition: Tony Blair Institute
Damian Hickey, regional director, South East Asia, Tony Blair Institute talks with The Investor on international investors’ interest in Vietnam’s dual-campus international financial center (IFC) model and suggests ways to attract world-class talent for the country’s IFC ambition.
Finance - Thu, July 31, 2025 | 10:53 am GMT+7
