Society

National warrant issued to former general director of PVTEX

The Ministry of Public Security’s Investigation Police Agency on June 26 issued a national warrant for Vu Dinh Duy, former General Director of PVTEX for alleged crimes related to economic management.
National warrant issued to former general director of PVTEX ảnh 1Vu Dinh Duy (Source: tuoitre.vn)
 
Hanoi (VNA) – The Ministry of Public Security’s Investigation Police Agencyon June 26 issued a national warrant for Vu Dinh Duy, former General Director ofPetrovietnam Petrochemical and Textile Fiber Joint Stock Company (PVTEX), for allegedcrimes related to economic management.

Duywas prosecuted for deliberately violating State regulations on economicmanagement causing serious losses at PVTEX in accordance with Article 165 ofthe Penal Code.

Priorto the prosecution, Duy fled from his residence on October 22, 2016.

Thewarrant stipulates that all citizens have the right to arrest and escort Duy tothe nearest police station, Procuracy or People’s Committee.

OnJune 20, the Investigation Police Agency decided to prosecute the criminal caseof deliberately violating State regulations on economic management, causingserious losses at PVTEX and Kinh Bac Petroleum Construction and InvestmentJoint Stock Company (PVC.KBC) and relevant units in accordance with Article 165of the Penal Code.

TheInvestigation Police Agency also began legal proceedings against Duy and fourothers, including Tran Trung Chi Hieu, former Chairman of the Board ofDirectors of PVTEX; Vu Phuong Nam, Chief Accountant of PVTEX; Dao Ngo Hoang,former chief of the contract trade division of PVTEX; and Do Van Hong, Chairmanof the Board of Directors and General Director of Kinh Bac PetroleumConstruction and Investment Joint Stock Company.

[Discipline proposed for former MoIT minister Vu Huy Hoang]

AccordingTuoi tre (Youth) newspaper, Duy led PVTEX, the operator of a 325 million USDDinh Vu yarn making plant in Hai Phong city between 2009 and 2014. Under hisleadership, the plant failed to turn a profit and incurred massive losses.

Bythe end of 2014, PVTEX had accumulated 1.08 trillion VND (47.5 million USD) inlosses. Deficits increased to 1.73 trillion VND (76.1 million USD) as of March31, 2015 when the plant had only managed to sell 23,000 out of the 32,000metric tons of yarn it produced.

Followinghis poor leadership between 2009 and 2014 that put the plant on verge ofbankruptcy, Duy was demoted to deputy general director, and later transferredto the Hai Phong Department of Industry and Trade, where he was appointeddeputy director.

Duywas later appointed deputy head of the agency in charge of industrial andenvironmental safety under the Ministry of Industry and Trade by then MinisterVu Huy Hoang. After spending a short time at the agency, he was againtransferred, this time to the Vietnam National Chemical Group.-VNA
VNA
#Investigation Police Agency #national warrant #Vu Dinh Duy #former General Director #PVTEX #economic management #economic losses #prosecution #Dinh Vu yarn making plant #Vietnamplus #Vietnam News
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