Vietnam’s Ministry of Industry and Trade on Wednesday issued a resolution revoking multiple promotions made under its former Minister Vu Huy Hoang, citing the promotions as a violation of the country’s regulations.
The list includes several officials involved in recently unveiled scandals entailing huge losses to state-owned companies, namely:
Trinh Xuan Thanh, the former deputy chairman of Hau Giang Province’s administration.
Thanh has had an international notice out for his arrest since September 16 by Vietnamese police following his disappearance amidst a looming criminal investigation into the US$150 million in losses incurred by state-run PetroVietnam Construction JSC (PVC), where he served as chairman from 2009 to 2013.
Vu Quang Hai, former member of the board of directors at Vietnam’s leading brewer Sabeco.
In the two years Hai led Sabeco, the corporation suffered consecutive heavy losses - VND155 billion (US$6.92 million) in 2011 and VND67 billion ($3 million) in 2012.
Hai resigned from his post last week following disciplinary actions taken against his father, former Minister of Industry and Trade Vu Huy Hoang, who retired from politics in April.
Vu Dinh Duy, former general director of state-owned yarn manufacturer PVTex.
Under Duy’s leadership from 2009 to 2014, PVTex’s $325 million Dinh Vu yarn making plant in Hai Phong City failed to turn a profit, instead incurring massive losses totaling VND1.73 trillion ($77.23 million) by March 31, 2015.
Duy has been on sick leave since October and has likely traveled abroad for treatment despite a failure to acquire approval from the ministry.
Thanh, Hai, and Duy’s promotions to different positions in departments and firms under the trade ministry were found by the Central Inspection Committee to be in violation of the country’s regulations.
In addition, Trinh Xuan Thanh had been removed from the country’s position allocation plan for the title of Deputy Minister of Industry and Trade for the 2016-21 period, along with Nguyen Xuan Son and Vo Thanh Ha.
Nguyen Xuan Son is the former chairman of state-owned Vietnam National Oil and Gas Group, or PetroVietnam (PVN).
Son was arrested last July and charged with “negligence of responsibility, causing serious consequences,” and “abusing positions and powers to appropriate property” when he was CEO of Hanoi-based Dai Duong Commercial Joint Stock Bank (Ocean Bank) for two years beginning in 2008.
Vo Thanh Ha is the current chairman of Sabeco’s board of directors.