Vinh Phuc province's former Party chief expelled from Communist Party
Vinh Phuc province's former Party chief Hoang Thi Thuy Lan has been removed from Vietnam's Communist Party for accepting bribes.
At an extraordinary meeting on Wednesday afternoon, the Party Central Committee assessed that Lan had shown deterioration in her political ideology, ethics and lifestyle. She seriously violated Party regulations and State laws while performing her duties and breached the Party members' code of conduct and responsibility to set a good example.
"Lan accepted bribes, causing very serious consequences which frustrated the public and negatively affected the reputation of Party organizations and the local government," the committee stated.
Lan, also a Party Central Committee member, was arrested on March 8 on charges of accepting bribes in a scandal linked to real estate firm Phuc Son Group. Chairman of Vinh Phuc province Le Duy Thanh was detained on the same day.
Lan had held the top position in Vinh Phuc since February 2015. She was also chairwoman of the People's Council of the province, an industrial hub in northern Vietnam with multinationals like Toyota, Honda, Piaggio, De Heus, Sojitz, and Haesung.
The arrests of Lan and Thanh are part of an ongoing investigation into “violations of accounting regulations causing serious consequences” at Vinh Phuc-headquartered Phuc Son Group JSC, Thang Long Real Estate and Trading Investment JSC, and related units.
The Ministry of Public Security's investigative agency on February 26 initiated criminal proceedings against Nguyen Van Hau (43), chairman of Phuc Son Group JSC, and five accomplices.
Related to this investigation, a number of former and sitting officials of Quang Ngai and Vinh Long provinces have been arrested. Among them are Cao Khoa, former chairman of Quang Ngai; Dang Van Minh, chairman of Quang Ngai and former director of this province’s Department of Transport; and other former officials of the department.
In early 2021, Lan got into trouble when her daughter Tran Huyen Trang, 31, was appointed deputy director of Vinh Phuc province's Department of Planning and Investment. After authorities discovered violations, Trang's appointment was revoked.
- Read More
Taiwan cooling solution firm AVC to spend $18 mln on building factory in Vietnam
Asia Vital Components (AVC), a Taiwan-based cooling solution provider, will spend VND457.1 billion ($18 million) on building a second phase factory in Vietnam.
Industries - Thu, November 14, 2024 | 11:07 am GMT+7
Vietnam stock market likely to face valuation discounts during Trump’s presidency: analysts
Emerging markets, including Vietnam, may face valuation discounts during President-elect Donald Trump’s second term, say analysts at Vietnam-focused fund management company Dragon Capital.
Finance - Thu, November 14, 2024 | 10:26 am GMT+7
Viettel launches world's first O-RAN 5G network using Qualcomm chipset platforms
Viettel has announced the commercial launch of its Open RAN (O-RAN) 5G Network, featuring key equipment developed in-house, marking the world's first O-RAN 5G network utilizing Qualcomm Technologies' 5G RAN platforms.
Companies - Thu, November 14, 2024 | 9:52 am GMT+7
Malaysia commits to net zero emissions by 2050
Malaysia has committed to achieving net-zero greenhouse gas emissions by 2050, positioning itself as a responsible global player in the fight against climate change despite contributing just 0.8% of global emissions.
Southeast Asia - Thu, November 14, 2024 | 8:25 am GMT+7
Thailand eyes congestion charges to ease capital traffic
The Thai Ministry of Transport said on Tuesday that it is exploring the implementation of a congestion charge program to alleviate chronic traffic problems in the capital city of Bangkok, improve air quality and promote the use of public transportation.
Southeast Asia - Thu, November 14, 2024 | 8:24 am GMT+7
Indonesia, Japan agree to reduce greenhouse gas emission
Indonesia and Japan on Tuesday agreed to start implementing the Mutual Recognition Arrangement (MRA) for the implementation of bilateral carbon trading cooperation.
Southeast Asia - Thu, November 14, 2024 | 8:22 am GMT+7
Thailand remains world's fourth biggest exporter of pet food
Thailand remains the world’s fourth largest pet food exporter, tapping into a booming global market valued at over $280 billion.
Southeast Asia - Thu, November 14, 2024 | 8:20 am GMT+7
Banking stocks to gain as Vietnam market nears status upgrade: experts
Banking stocks are set to benefit the most from the impending upgrade of Vietnam’s stock market to “emerging market” status, with an influx of foreign investment and heightened market activity in the near future, experts say.
Banking - Thu, November 14, 2024 | 8:00 am GMT+7
Vietnam faces complex challenge as counterfeits shift to cyberspace
Even as the prevalence of counterfeit goods in traditional markets has dropped significantly, their online presence has become a growing concern, says Nguyen Ngoc Ty, CEO of Non Son Fashion Company Limited, a company dedicated to producing and selling hats and helmets.
Economy - Wed, November 13, 2024 | 7:21 pm GMT+7
Japan food firm Kyokuyo completes $14 mln factory in southern Vietnam
Kyokuyo Vina Foods Co., Ltd., under Japan’s food firm Kyokuyo, has completed the construction of a JPY2.1 billion ($13.5 million) factory, its first facility in Vietnam.
Companies - Wed, November 13, 2024 | 4:23 pm GMT+7
StanChart arranges $100 million syndicated loan for Vietnam-based Stavian Chemical
Standard Chartered Vietnam has acted as the sole mandated lead arranger and bookrunner in a $100 million maiden offshore syndicated loan transaction for Stavian Chemical JSC.
Banking - Wed, November 13, 2024 | 4:19 pm GMT+7
Vietnam dong hits historic low
The Vietnamese dong (VND) has reached a historic low against the U.S. dollar (USD) as the greenback continues strengthening on the international market.
Banking - Wed, November 13, 2024 | 3:48 pm GMT+7
Vietnam gov't seeks parliamentary green light for colossal high-speed railway project
An ambitious plan to build a transnational high-speed railway route has been proposed to the Vietnamese parliament for approval amid concerns about the project’s financial feasibility.
Infrastructure - Wed, November 13, 2024 | 3:19 pm GMT+7
Climate change can cut Asia-Pacific GDP by 16.9%, Vietnam by 30%: ADB
By 2070, climate change under a high-end emissions scenario can cause a total loss of 16.9% of GDP across the Asia-Pacific region, the Asian Development Bank (ADB) has said in its “Asia-Pacific Climate Report 2024.”
Economy - Wed, November 13, 2024 | 3:11 pm GMT+7
Japan beverage maker Suntory sees Jan-Sept Vietnam revenue rise to $749 mln
Japan-based brewing and distilling firm Suntory, a partner in Vietnam-based Suntory PepsiCo Vietnam Beverage Co. Ltd., earned in-country revenues of JPY116 billion ($749.2 million) in the first nine months of this year.
Companies - Wed, November 13, 2024 | 2:18 pm GMT+7
EV maker VinFast secures extra $3.4 bln funding from founder, Vingroup
VinFast, the electric vehicle (EV) arm of Vietnam's private conglomerate Vingroup, is set to receive financial aids of VND85 trillion ($3.36 billion) from its parent firm and Vingroup chairman-founder Pham Nhat Vuong.
Companies - Wed, November 13, 2024 | 10:54 am GMT+7