Dinh La Thang arrested and facing legal proceedings

Dinh La Thang, a member of the Party Central Committee and deputy chairman of the Party Central Committee’s Economic Commission

On the same day, the Politburo issued a decision on suspending Thang’s Party-related activities from December 8, 2017, and the 14^th National Assembly’s Standing Committee adopted a resolution suspending Thang’s status as a congressman.

Dinh La Thang is suspected of involvement in deliberate violations of state regulations on economic management, causing serious economic damages (Article 165 of the Penal Code), and abusing his position and authority to appropriate state property (Article 280 of the Penal Code), causing a loss of VND800 billion ($35.16 million) in PetroVietnam’s investment in OceanBank.

He is also accused of having a role in the economic mismanagement and embezzlement at PetroVietnam Construction Corporation related to the Thai Binh 2 thermal power project.

In April this year, the Party Central Committee’s Inspection Commission started considering taking disciplinary action against seven former top executives of PetroVietnam, including Dinh La Thang who was the secretary of the Party Committee and Chairman of the Board of PetroVietnam during 2009-2011.

The commission found that the group’s Party Committee Standing Board has been negligent in advising the PetroVietnam Party Committee on a 2009 resolution that approved illegal contract packages, and a 2011 resolution on investing in OceanBank, contrary to the Law on Credit Institutions, which resulted in a loss of VND900 billion ($39.56 million), including VND800 billion ($35.16 million) for OceanBank.

The commission requested to take quick disciplinary action against the PetroVietnam Party Committee Standing Board. It found that Thang bore the prime responsibility for the Party Committee Standing Board and the Member Council’s illegal resolutions and wrongdoings in the 2009-2011 period.

Thang was found to have violated regulations of the group’s board of directors by signing an agreement on contributing 20 per cent and more of OceanBank’s capital before getting approval from the board of directors.

Thang was also held responsible for the Member Council’s resolutions authorising bidding packages in violation of government decrees and advising the prime minister to approve many bidding packages that failed to meet legal regulations.

Besides, he has to bear responsibility for violations of the Law on Bidding after the bio-ethanol Dung Quat plant’s engineering, procurement, and construction contract, as well as low investment efficiency in a number of projects, including the Dinh Vu polyester manufacturing plant and several bio-fuel projects.

Previously in February 2016, Thang, then working as Minister of Transport, was appointed as Secretary of the Party Committee of Ho Chi Minh City.

On May 7, the 12^th Party Central Committee decided to give warning to and remove Thang from the Politburo due to past mismanagement of PetroVietnam. Two days later, he received the decision to be transferred from his current post as the Secretary of the Ho Chi Minh City Party Committee to the deputy chairman of the Party Central Committee’s Economic Commission.

PVN Deputy General Director arrested HÀ NỘI – Deputy General Director of Vietnam Oil and Gas Group (PVN) Ninh Văn Quỳnh was detained on Friday for “deliberately violating State regulations and causing serious consequences” for PVN.

Deposed Politburo member now Party Central Committee advisor Dinh La Thang, who was voted out of the Politburo on May 7 due to past mismanagement of state-owned Vietnam National Oil and Gas Group (PetroVietnam), has been appointed as a deputy chairman of the Party Central Committee’s Economic Commission.

Major communist party official charged with SOE mismanagement The Central Inspection Commission has just proposed that the Politburo and the Party Central Committee consider disciplinary actions against Dinh La Thang, currently Politburo member and Secretary of the Ho Chi Minh City Party Committee.

PetroVietnam causes $874 mln state budget loss The state-run Vietnam National Oil and Gas Group, or PetroVietnam (PVN), has made several wrongdoings in capital and asset management, as well as investing in non-core businesses, which cost the state budget a huge sum of VND18.2 trillion, or $873.6 million, the Vietnam State Inspectorate (VSI) told a press briefing yesterday.