Vinh Phuc province vice chairman arrested for accepting Phuc Son Group bribes
Nguyen Van Khuoc, vice chairman of the Vinh Phuc People’s Committee and chairman of the province’s land price appraisal council, has been arrested for accepting bribes in the Phuc Son Group scam.
The Ministry of Public Security’s investigative agency has detained three officials of Vinh Phuc, namely Nguyen Van Khuoc and Chu Quoc Hai, former deputy directors of the provincial Department of Natural Resources and Environment; and Hoang Van Nhiem, deputy director of the provincial Department of Finance, for accepting bribes per the Penal Code, the ministry’s spokesman Lieutenant General To An Xo stated Tuesday.
Cao Dai Nghia, deputy head of the price division of the Department of Land Resources Planning and Development under the Ministry of Natural Resources and Environment, was arrested for abusing positions and power while on duty.
Legal proceedings were also launched against Nguyen Ngoc Huy, director of Nam Ha Price Appraisal Company; Dinh Thi Thu Huong, head of the land price for compensation and resettlement division under the provincial Department of Natural Resources and Environment’s land management agency, on the same charge. They were banned from leaving their residence.
According to investigation results, during the process of Thang Long Real Estate Company - a member unit of Phuc Son Group - executing the Vinh Tuong urban area and wholesale market project in Vinh Phuc province, Nguyen Van Hau (aka Hau Phao), chairman of Phuc Son Group, met several officials many times, giving money to them and asking them for help in calculating land use fees in favor of his company.
Khuoc, Hai, and Nhiem received money from Hau and directed Huong through Nghia and Huy to appraise land prices in favor of Thang Long Real Estate Company, causing more than VND200 billion ($7.86 million) in losses to the state budget.
Previously, on February 26, Nguyen Van Hau was detained for allegedly bribing many officials. Notably, Dang Trung Hoanh, chief of the Mang Thit district’s Party Committee Office in Vinh Long province received VND64 billion ($2.52 million).
The Ministry of Public Security assessed that this was a new type of crimes: taking advantage of close relationships with people at high positions to influence grassroots officials for personal gains.
Regarding the case that occurred at Phuc Son Group, in the past two months, many officials have been arrested. Among them were three high-ranking leaders of Vinh Phuc province, namely former provincial Party secretary Hoang Thi Thuy Lan, former standing deputy secretary Pham Hoang Anh, and former chairman of the province Le Duy Thanh. They have been investigated for receiving bribes.
In Quang Ngai, the investigative agency arrested provincial chairman Dang Van Minh, two former chairmen Cao Khoa and Le Viet Chu, and many others.
They have been investigated for receiving bribes or violating bidding regulations causing serious consequences.
Dang Trung Hoanh, chief of the Mang Thit district’s Party Committee Office in Vinh Long province, was charged with abusing his positions and power for personal gains.
- Read More
Shaping a waterway into a key shipping channel: Viconship gets dredging nod
A major dredging project will allow safer ship navigation and increased cargo transportation capacity on the Hai Phong shipping channel, thereby enhancing competitiveness of Vinconship’s port system, says the company.
Companies - Mon, November 18, 2024 | 7:08 pm GMT+7
Former assistant to State President appointed general director of state-owned financial firm HFIC
Truong Tuan Anh, an official at the State President Office and former assistant to a state president, has been appointed general director of Ho Chi Minh City Finance and Investment Stated-owned Company (HFIC).
Companies - Mon, November 18, 2024 | 5:35 pm GMT+7
MBBank’s takeover of weak OceanBank to have limited impact on its credit profile: Fitch
Military Commercial Joint Stock Bank's (MBBank) takeover of Ocean Commercial Bank Limited (OceanBank) will have limited financial impact on the former’s credit profile, Fitch Ratings said Monday.
Banking - Mon, November 18, 2024 | 5:06 pm GMT+7
Win-win philosophy indispensable for sustainable growth: Bamboo Capital founder
A win-win cooperation strategy is not just desirable, but a necessary condition for sustainable development, says Nguyen Ho Nam, founder of Vietnam’s private conglomerate Bamboo Capital Group.
Bamboo Capital - Mon, November 18, 2024 | 4:46 pm GMT+7
Vietnam central bank resumes selling gold after 1-month hiatus
The State Bank of Vietnam (SBV), the country's central bank, on Monday announced that it will reactivate the sale of SJC-branded gold bars to meet market demand.
Banking - Mon, November 18, 2024 | 4:02 pm GMT+7
Vietnam 2nd biggest market of Thai giant Central Retail in Jan-Sept
Thailand’s leading retailer Central Retail earned a revenue of THB37.99 billion ($1.09 billion) in Vietnam in the first nine months of this year, up 0.9% year-on-year.
Companies - Mon, November 18, 2024 | 4:00 pm GMT+7
Singapore firm to invest in $19.7 mln garment factory in central Vietnam
Singaporean-based HGQ ASIA Pte., Ltd will pour nearly VND500 billion ($19.7 million) into building a garment factory in the south-central province of Binh Dinh.
Industries - Mon, November 18, 2024 | 2:23 pm GMT+7
IP developer KBC to raise $236 mln to restructure debts, augment capital
Kinhbac City Development Holding Corporation (KBC), a leading industrial real estate developer in Vietnam, will offer 250 million shares to 11 investors for more than $6,000 trillion ($236.4 million) to restructure its debts.
Companies - Mon, November 18, 2024 | 2:17 pm GMT+7
Vietnam's chemical giant Vinachem targets $500 mln trade turnover with Brazil in 2030
Vietnam’s state-run chemical group Vinachem and Brazil’s major trading firm Oceanside One Trading LLC say they will strive to boost their bilateral trade to $500 million in 2030.
Companies - Mon, November 18, 2024 | 12:32 pm GMT+7
Vietnam may welcome more FDI from US allies in Trump 2.0: broker
More companies from U.S. allies and elsewhere may move more production facilities to Vietnam in the second term of Donald Trump as U.S. President, given the expected intensification of U.S-China trade tension, according to KB Securities Vietnam (KBSV).
Economy - Mon, November 18, 2024 | 12:19 pm GMT+7
Vietnam PM asks Brazil's aerospace giant Embraer to help with air logistics development
Vietnam seeks to build an air logistics center and plans to collaborate with Brazil’s aerospace giant Embraer for the task, says Prime Minister Pham Minh Chinh.
Companies - Mon, November 18, 2024 | 10:45 am GMT+7
Singapore-domiciled TAEL Two Partners struggles to divest from Vietnam taxi operator Vinasun at loss
Singapore-headquartered fund TAEL Two Partners has planned to divest entirely from Vietnamese taxi operator Vinasun at a heavy loss after more than a decade of investment.
Finance - Mon, November 18, 2024 | 10:19 am GMT+7
Vietnam's opportunity in a shifting global EVs market
The global electric vehicle boom presents numerous opportunities for Vietnam's economy, supported by leading technology suppliers like Bühler Group.
Companies - Mon, November 18, 2024 | 10:00 am GMT+7
Vietnam, Brazil elevate bilateral ties to strategic partnership
Vietnam and Brazil issued a joint statement on elevating their bilateral relations to a Strategic Partnership in Rio de Janeiro on Sunday (local time) on the occasion of Prime Minister Pham Minh Chinh’s ongoing trip to the Latin American nation to attend the G20 Summit and join bilateral activities.
Politics - Mon, November 18, 2024 | 8:11 am GMT+7
The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment
A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.
Economy - Mon, November 18, 2024 | 7:52 am GMT+7
State-owned housing developer HUD has new chairman
Dau Minh Thanh, chief of the Ministry of Construction (MoC) Office, has been appointed chairman of the ministry’s Housing and Urban Development Corporation (HUD).
Companies - Sun, November 17, 2024 | 9:34 pm GMT+7