Vietnamplus

Police have taken former vice chairman of the Ho Chi Minh City People’s Committee Nguyen Huu Tin, born in 1957, into custody over wrongdoings in the management and use of State assets.

The Investigation Police Agency under the Ministry of Public Security has begun criminal proceedings against the case of violating provisions on the management and use of State assets that causes losses and wastefulness, as well as a number of organisations and individuals in Ho Chi Minh City related to Phan Van Anh Vu (alias Vu Nhom).

State-owned businesses must undergo a review of their assets before they can be equitised over the next two years.

The 14th National Assembly adopted at its 5th session a resolution on continuing to improve and enforce policies and laws on the management and use of State capital and assets in enterprises and during the equitisation of State-owned enterprises (SOEs).

The Government Inspectorate has announced conclusion of its inspection of the acquisition of AVG by Mobifone and proposed starting legal proceedings and investigation into the case.

The Supreme People’s Procuracy has issued an indictment for its prosecution of Dinh La Thang and six accomplices accused of causing losses of 800 billion VND (35.2 million USD) of the Vietnam Oil and Gas Group PetroVietnam (PVN) as capital contribution to the Ocean Commercial Joint Stock Bank (OceanBank)

The Government plans to establish a special agency to act as the ownership representative of State capital at State-owned enterprises by 2018.

The Secretariat of the Party Central Committee on September 20 meted out punishment on two officials for their serious violations of Party rules and lax management resulting in great losses to State assets.

Individuals of State agencies and organisations should be banned from using vehicles and other assets that are presented or donated by organisations or individuals, the NA Standing Committee agreed.

Deputy Prime Minister Vuong Dinh Hue urged the State Capital Investment Corporation (SCIC) to strengthen operations for more effective use of State assets on April 26.