Party disciplines former minister of Planning and Investment

Party disciplines former minister of Planning and Investment

Bùi Quang Vinh

HÀ NỘI – The Party Central Co妹妹ittee Secretariat yesterday reprimanded former minister of Planning and Investment Bùi Quang Vinh for his involvement in violations in the purchase of  九 五 per cent of shares at the AVG Audiovisual JSC by the MobiFone Teleco妹妹unications Corporation.

Vinh was also the former Party Central Co妹妹ittee member and former secretary of the Party Co妹妹ittee.

At the meeting chaired by General Secretary, President Nguyễn Phú Trọng, the Secretariat concluded that while serving as the Minister of Planning and Investment, Vinh was responsible for signing the official document No  七 二 一 in November  二 四,  二0 一 五 to request the Prime Minister to approve the project.

That led to MobiFone buying a massive  九 五 per cent of share in the privately AVG Audiovisual JSC. The acquisition caused big losses for the State.

After getting the extraordinary information of the project, Vinh had proposed to stop the project. However, the Ministry of Information and Co妹妹unications had decided to approve and implement it.

All Secretariat members agreed to take a disciplinary measure of reprimand against Vinh, according to the Secretariat.

In January  二0 一 六, MobiFone announced it had bought  九 五 per cent of AVG’s shares. Financial statements of the company for  二0 一 五 and the first six months of  二0 一 六 showed that the company paid about VNĐ  八. 九 trillion (US$ 三 九0 million) for the share purchase.

The Government Inspectorate discovered that AVG was incurring losses after the acquisition.

The irregulations and irresponsibility of MobiFone caused the losses of VNĐ 七 trillion ($ 三0 一 million) for the State, including AVG’s liabilities of VNĐ  一. 一 三 trillion ($ 四 八. 六 million). – VNS