Deputy Minister of Trade and Industry receives warning

Update: August, 01/2017 - 09:54

HÀ NỘI – The Party Central Committee’s Inspection Commission has issued a warning against Deputy Minister of Trade and Industry Hồ Thị Kim Thoa for “serious violations” when she led the Điện Quang Lamp Company.

A warning is among four levels of punishment of the Communist Party of Việt Nam in handling members’ misconduct, which also include: reprimands, demotions and expulsions.

The commission also proposed Thoa be stripped of all current positions.

The decision was announced yesterday in the commission’s announcement of the results of its 16th meeting which took place from July 25-27.

Her violations had earlier been pointed out during a commission meeting late in June.

The commission said that while holding the position as Party Committee Secretary and Director of former State-owned Điện Quang Lamp Company (later Điện Quang Lamp Joint Stock Company), from January 2004 to May 2010, Thoa violated regulations and procedures on business equitisation, and wrongly handled loan interest  exempted by banks worth VNĐ6.7 billion (US$298,000).

She also violated State regulations on land management when the company signed a contract with another company to invest in land at No 12, Tôn Đản Street, in HCM City. She also failed to properly handle revenue of VNĐ30 billion ($1.3 million) from transferring the rights to exploit the land.

In the third violation, Thoa brought more shares than the permissible level and her transfer of shares violated the company’s regulations.

Besides the decision on Thoa, the commission also proposed discipline against the Steering Committee for Southwest Region, its former and current leaders; and the Party Committee’s Standing Board of the Vietnam National Chemical Group, its current and former leaders for violations in personnel and financial managements which resulted in losses of State money and properties. – VNS