former Deputy Prime Minister Vu Van Ninh,disciplinary warning,divestment of State capital,restructuring of State-owned enterprises,administrative penalty,Vietnam Social Security

Former Deputy Prime Minister Vu Van Ninh

Earlier, the Politburo had decided to give the same disciplinary measure against him at a meeting chaired by General Secretary of the Party Central Committee and State President Nguyen Phu Trong in Hanoi on July 19.

At that meeting, the Politburo said as a member of the Party Central Committee, a member of the Government’s Party Civil Affairs Committee and the Deputy PM in charge of business innovation from August 2011 to April 2016, Ninh signed documents allowing the decrease and divestment of State capital from Quy Nhon Port JSC and Quang Ninh Port JSC.

He agreed in principle on the continuation of State capital divestment by the People’s Committee of Khanh Hoa province after this committee took over Nha Trang Port JSC. Ninh also gave green light to the plan to equitise the Airports Corporation of Vietnam and 10 inland waterways management units, which were not subject to equitisation.

These documents ran counter the Politburo’s conclusions and the Government’s decree on the equitisation and State capital divestment in the restructuring of State-owned enterprises.

According to the Politburo, as a member of the Party Central Committee, Secretary of the Party Civil Affairs Committee at the Ministry of Finance, Minister of Finance and Chairman of the Vietnam Social Security Management Council from July 2006 to 2011, Ninh lacked responsibility in leadership, direction, examination and supervision, and violated the Law on Social Insurance and the Government’s decree stipulating the functions, tasks, power and organisational structure of the Vietnam Social Security (VSS), enabling two VSS General Directors (in 2008 and 2009) to seriously violate legal regulations by signing contracts to lend 1.01 trillion VND (43.57 million USD at the current exchange rate) to Agribank Financial Leasing Company No. 2, a non-bank credit organisation.

 

This company’s bankruptcy resulted in a huge loss to the State. The two VSS leaders and many officials and Party members involved in the case also faced criminal proceedings.

The Politburo stated that Ninh’s violations were serious, caused a very big financial loss to the State, negatively affected the prestige of the Party organisation and himself, and stirred public concern, so he needs to be disciplined strictly in line with the Party’s regulations.

Ninh acknowledged his responsibility for the wrongdoings and shortcomings.

As such, the Politburo decided to give a warning against the former official. It also requested the competent authorities to issue an administrative penalty against him in proportion to the Party’s disciplinary act./. VNA

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