The Criminal Investigation Department of the Da Nang City Police is investigating alleged irregularities at seven prime land plots belonging to Da Nang Foodstuff Joint Stock Company.
The State Audit Office Region III has pointed out a series of violations by Da Nang Foodstuff Joint Stock Company in the use of 7 prime land plots and recommended an investigation to clarify and handle the matter according to regulations.
Following a petition from artists regarding the severely damaged condition of 300 films, the Inspectorate of the Ministry of Culture, Sports and Tourism has responded.
Nguyen Quang Trung (Trung "the Fire"), former General Director of Da Nang Housing Development Investment Joint Stock Company, and his subordinates are on trial for the second time for causing a loss of 65 billion VND.
The Deputy Prime Minister has just directed the Ministry of Construction to strictly handle the violations mentioned by the Government Inspectorate in its inspection report.
The Government Inspectorate has just pointed out numerous violations in the equitization process at Fico Corporation and its subsidiaries.
The Government Inspectorate has uncovered numerous violations in land management, use, and finance by several major players in the construction industry.
The appellate court accepted the appeal for a reduced sentence from defendant Nguyen Quang Trung, reducing his sentence from 5 years to 3 years and 6 months.
The Inspector General of the Government has just issued a decision to immediately establish an inspection team to examine the implementation of the inspection conclusions regarding the equitization of the Vietnam Feature Film Studio.
Causing losses exceeding 2,6 billion VND, the former General Director of Da Nang Housing Company and his subordinates were sentenced by the Da Nang City People's Court to a total of nearly 200 months in prison.
The former General Director of Da Nang Housing Development Investment Joint Stock Company and his subordinates are accused of violating regulations on the management and use of state assets, causing losses of billions of dong.
Mr. Bui Le Duy, Deputy General Director of Da Nang Housing Development Investment Joint Stock Company, was arrested for violating regulations on the management and use of state assets, causing losses and waste.
The Ministry of Construction is restructuring and divesting from Song Hong Corporation, Construction Machinery Corporation, and privatizing the Housing and Urban Development Corporation (HUD) and Vietnam Cement Corporation (VICEM).
Colonel Tran Van Chinh, Deputy Director of the Binh Duong Provincial Police, affirmed that to date there is no documentation proving that the police have any shares in the An Phu karaoke bar.
Mr. Nguyen Thanh Phong, Chairman of the People's Committee of Ho Chi Minh City, has just proposed two options to the Prime Minister for the equitization of Saigontourist Corporation (Saigontourist).
Large economic groups and corporations with complex financial situations, wide scope of operations, and extensive land ownership are one reason why privatization is slow.
The Housing and Urban Development Investment Corporation (HUD) and the Vietnam Cement Corporation (Vicem) underwent equitization in 2020.
It is strange that Huy Hung General Trading Company Limited did not purchase the Ban Co Hotel but was granted "private ownership rights".
Many state-owned enterprises in the central provinces have been found to have committed irregularities during the privatization process.
Many of Viglacera's land plots are valued based on provisional price lists, which do not reflect the actual market transfer value.
The slow pace of privatization, besides the confusion of the enterprises themselves, is also due to the fact that many want to sell shares but no one is buying them.
The Ministry of Finance has recently sent a document to the General Directors and Directors of enterprises regarding the determination of enterprise value for equitization.
Singapore was overtaken by Vietnam – a frontier market – in terms of the total value of IPOs in 2018.
Corporations under the Ho Chi Minh City People's Committee, such as Saigontourist, Satra, Samco, etc., are businesses with significant advantages in terms of market share, possessing enormous assets, and are all slated for equitization according to the 2019-2020 roadmap.
Sapulico, a state-owned enterprise that was once highly profitable, operated in a competitive sector, and owned many valuable real estate assets, has disappointed investors after privatization due to its dramatic decline.
Most recently, Uber was valued at $76 billion and could reach $120 billion in its initial public offering (IPO) documents.
"Anyone who earns 1 billion VND per year is automatically considered to have a high salary. The issue here is how much money they actually generate, not how much they earn," Mr. Nguyen Dinh Cung stated.
Since the beginning of 2018, numerous inspections and audits have uncovered land-related irregularities in the process of equitizing state-owned enterprises (SOEs).
Minister of Finance Dinh Tien Dung acknowledged that, during the equitization process of state-owned enterprises, there were cases where land was not auctioned, causing capital losses for the state.
Ho Chi Minh City leaders believe that the reason for the delay in the equitization process in the city is that the plan for restructuring and reforming state-owned enterprises (SOEs) has not yet been officially issued.
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