Investigation into petrol firm losses
  • By Phuong Thao | | September 01, 2016 04:37 PM
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Prime Minister Nguyen Xuan Phuc has instructed the Government Inspectorate to work with ministries to investigate the gigantic loss of VND3.3 trillion (USD142 million) at PetroVietnam Construction Joint Stock Corporation (PVC) under the management of former chairman Trinh Xuan Thanh.

Speaking at the government’s regular meeting on August 31, the Minister-Chairman of Government Office Mai Tien Dung said the Government Inspectorate would co-operate with the Ministry of Public Security and the Ministry of Internal Affairs on the investigation.


Trinh Xuan Thanh when being Vice Chairman of Hau Giang Province People's Committee

Former of PVC chairman and former chairman of Hau Giang Province People’s Committee Trinh Xuan Thanh has been at the centre of media and public concern in recent months.

Before being assigned to his position in Hau Giang, Trinh Xuan Thanh was the chairman of PVC from 2007 to 2013. In 2012, the company reported surprise losses of VND293 billion (USD14 million). By the end of 2013, the company had total losses of VND3.3 trillion.

After that, Prime Minister Nguyen Tan Dung urged PetroVietnam to investigate the causes behind PVC’s losses and deal with the individuals involved and determine who was responsible. However, the file has yet to close on the investigation.

Between September 2013 and April 2015, Thanh was assigned to key positions at the Ministry of Industry and Trade’s office by former Minister Vu Huy Hoang. In May 2015, he became the vice chairman of Hau Giang Province People’s Committee.

Following the public concerns over the scandal, in June this year, when he ended his term of being Hau Giang Province People’s Committee chairman, Thanh did not stand for re-election.

The PM also ordered the Government Inspectorate and the ministries to investigate the appointment of Trinh Xuan Thanh for key positions at the Ministry of Industry and Trade and being the official of Hau Giang Province although, under his management, PVC made big losses.

It was recently rumoured on social networks that Trinh Xuan Thanh had been arrested as part of the investigation. However, the Minister of the Government Office Mai Tien Dung denied this was the case.

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